What are some of the big stories, new trends, and exciting innovations you’re seeing in the market?
Fashion and collection-based retailers are investing heavily in omnichannel to offer optimal customer experience and deliver strategic top-line impact. However, by doing so they expose their back-office organization to more varied consumption patterns, on top of the traditional yet already complex to manage multi-store, multi-product merchandising equation.
With inflation further squeezing shopper spending, plus heightened volatility from supply chains and logistics, retailers need to accelerate and digitalize decision-making in order to achieve the business agility required to survive. In its recent ‘State of Fashion Technology Report’, McKinsey found that fashion companies that now embed AI into their business models could see a 118 percent cumulative increase in cash flow by 2030.
What are the characteristics of your solution and who is it for?
Born from the initiative of retailers and aimed at meeting the needs of retailers, Nextail has developed a smart platform for merchandising that powers data-driven, customer-centric decisions to meet the requirements of new, nimble, omnichannel shopping experiences. Leveraging advanced analytics and AI, retailers can sell more with less stock through hyper-local demand forecasting and agile process automation.
Customers using Nextail typically see 30% lower coverage levels, and 60% fewer stockouts in addition to being able to increase the sustainability of their operations by reducing leftovers and overproduction. Nextail works with more than 60 global brands, including River Island, Versace, and Pepe Jeans.
Nextail’s modular SaaS platform covers the end-to-end merchandising process from assortment, buy, allocation to replenishment and markdown, and is designed to work within a retailer’s existing technology ecosystem and to go live quickly, for maximum ROI in terms of additional sales, improved margins, cash, as well as operational efficiencies.
This year, what will the Paris Retail Week event represent for your business?
We are keen to meet with retail decision makers and ecommerce leaders to learn how supply chain disruption and evolving shopper demand are being tackled. And share how Nextail is working with retailers to digitally transform their merchandising processes and build better businesses, more resilient in the face of disruption.
Join the Nextail workshop: Thursday 22 septembre 2022 - 14:00 15:00 - Room 3
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