December 4, 2014. Today, EDITD, the world leader in real-time market data and analytics for the fashion and apparel industry, announces the release of over 30 new product features.
EDITD is already the go-to place for buyers and merchandisers to track their competitors and have the right product, at the right price, at the right time. New Price Index, Color Analysis and Product Assortment Breakdown features make it even easier to stay competitive on any market.
Retailers increasingly have nimble supply chains, and many can take a product from concept to store in as little as three weeks. Discounting and pricing are also very fluid and less cyclical than before, particularly in end-of-year peak trading periods.
That means real-time information is more important than ever. There is tangible demand in the fashion industry for market analytics, and a serious threat of being left behind in the market without tools such as EDITD.
Many of the features in this Q4 2014 release are designed to help retailers do better in such a market.
“Every time you see a product on discount, it’s because the wrong decisions were made”, says Julia Fowler, EDITD co-founder. “Buyers and merchandizers, who use EDITD, have an innate understanding of their brand’s customer, so having access to this information helps speed up their processes – turning activities which used to be carried out monthly or yearly, such as comp-shopping, into a real-time experience. This means they don’t miss any opportunities, have a much wider visibility, and can make well-informed decisions.”
EDITD has more than 53 billion datapoints on the fashion industry, dating back more than 4 years, and covers over 1000 retailers globally.
Key major features in our Q4 ‘14 update:
- Index prices across retailers. The Price Index feature lets customers easily compare retailers against one another, across any product type. Compare prices, or entire ranges – either against entry price, average or max price, and see it indexed, or as the original price. This kind of shopping bag analysis would have taken tens of hours to prepare, and been against a sample that was up to weeks old. But now it’s available instantly, on real-time data.
- Analyse product performance by color. Color Analysis means EDITD customers can see which colors are performing best. They can see which colors were most popular last season, or a couple of seasons back, and understand the latest arrivals into store. It’s simple to break down competitor’s assortment to understand which colors they back, and spot opportunities in the market. With the holiday season coming up, it’s easy now to have the best selling colors covered.
- Stock the right products with EDITD Assortment Breakdown. When retailers are building new season product mix, real-time assortment insights are so crucial. You want to make sure that you have the right product, across categories, and that you’re in-line with the competition. EDITD customers also use Assortment Breakdown at strategic level, understanding how a competitor weights their offering, and how that changes between seasons and across time. Planners and merchandisers can identify weaknesses in competitors’ offerings and optimize their own strengths.
- Easy to use Filter Panel offers customisable insights for as many as 1,000 users at any level. Most of our customers use EDITD across their entire business – strategic people right through to BAAs. Using our Filter Panel, customers can adjust their preferences by selecting and removing product filters. It’s completely intuitive – new users have been able to access deep insight within clicks.
All new features are available to EDITD customers. To request an EDITD demo, contact us at firstname.lastname@example.org.
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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.