With more fashion retailers moving into homeware, EDITED’s new feature maps out their positioning in the market to compete against existing home retail giants.
NEW YORK, NY – September 11, 2019 – Trendy home decor is becoming a must-have lifestyle aesthetic consumers are showing off. So more retailers are trying to figure out ways to penetrate the market against existing homeware companies.
Today, EDITED, the retail decision platform, is expanding its data collection to include homeware, in order to aid retailers in navigating this lucrative market. The retail decision platform helps retailers eliminate any guesswork and accurately plan out their home related collections with instant information of brands and retailers assortment and pricing activity.
For the past decade, EDITED has helped apparel retailers make better decisions based on data. Leading businesses like the Otto Group have achieved 1.8 billion euros in revenue using the platform. Now, brands will have the real-time data needed to achieve similar results in the homeware market.
According to Tobias Caldeweyher, Head of E-commerce Analytics for Otto Group, “Otto Group has continued to partner with EDITED over the past four years because we’ve seen clear results. From repositioning a brand’s pricing and assortment strategy to entering untapped markets, EDITED is used to support many of our critical assortment decisions.”
By using EDITED’s analytic software for homeware, apparel retailers can easily move into this sector and become a one-stop lifestyle shop for people. Doing so strengthens brand loyalty amongst existing customers and increases brand awareness to homeware enthusiasts.
More importantly, the rise of ‘Generation Rent’ and lifestyle culture through social media means people want the latest interior design trends at an affordable price. With EDITED, retailers will be able to ensure they are supplying the right products at the right price for this growing demographic.
Since 2009, EDITED has used artificial intelligence, sophisticated analytics and image and text recognition to understand pricing, discounts, assortments and trends in real-time across the retail industry. EDITED’s software is built by a team of world class data scientists and engineers working alongside former buyers and merchandisers from global brands and retailers.
EDITED helps the world’s best retailers drive sales by eliminating guesswork. The Retail Decision Platform uses A.I. to optimize buying and merchandising decisions, ensuring retailers get their product and prices right every time. This is how the world’s most innovative retailers stay ahead of the competition; including PUMA, Tommy Hilfiger, Diesel, Ann Taylor and the Arcadia Group. For more information, visit www.edited.com.
Phone: +1 (646) 606-2790