Global retail intelligence platform Edited has launched myEdited, a new merchandising experience feature that provides “an easy-to-use question-and-answer interface”.
Drawing on the expertise of merchandisers, buyers, and retail strategists from the world’s biggest brands, the update promises to “more quickly and efficiently supply retail professionals with key insights into their business performance powered by both internal and market data”.
The questions and corresponding insights have been devised by a team led by Brian Tomz and and Victoria Giles, Edited’s respective Chief Product Officer and Senior Director of Product Marketing, formerly a senior buyer for the UK fashion brand Miss Selfridge.
Devising the interface involved surveying the platform’s User Advisory Board – comprising Puma, PVH, and Coach New York along with other existing customers.
The myEdited interface answers some of the most common questions, including: “Which products are price increase candidates?” and “What are the assortment gaps?”
Example insights that cover an array of business performance areas include, “Product profit per units sold” to “Average discount across a particular sector” during a specified time period.
The questions and insights cover a number of themes, including assortment, pricing and inventory strategy, “which are a central focus of Edited’s customers”.
Doug Kofoid, Edited CEO, said: “We believe this new interface will be a game-changer for retailers. Merchandisers, buyers, and planners will no longer have to dig through multiple data sources to surface valuable insights.”
The launch follows an investment of $15 million in the business by US venture capital firm Delta-v Capital in March and the recent launch of Edited’s Merchandising Experience Index, “a benchmarking tool to help retailers transform their merchandising from product-centric to customer-centric”.
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