London, 30 January 2014 EDITD, the world’s largest apparel data warehouse, are proud to announce that ASOS, one of the world’s largest fashion retailers, has redoubled their commitment.
ASOS continues to outperform, their clever trading resulted in 37 per cent revenue increase in the four months to December 2013 and sales advanced by 33% as a result of investment in pricing architecture, a particular strength of EDITD. Having used EDITD over 12 months, ASOS have now given more than 200 of their staff everyday access over the web.
In 2014, buyers and merchandisers hold the key to increasing profit, market share and value inside fashion businesses. With the advent of globalisation, the breakdown in traditional fashion seasonality and the internet, new competitors, brands and trends can emerge from anywhere and blindside a traditional buying and merchandising approach. That’s why retailers are turning to EDITD, the inventors of real time data technology for buying and merchandising teams, to help them understand and optimise for demand, trends, products, price architecture and regional differences. Basing decisions on data and facts means that retailers can confidently price products and buy into the trends their consumers want and reduce poorly bought stock, which would have otherwise ended up discounted or in disposal.
Maria Hollins, ASOS Retail Director says, “At ASOS, being first for fashion means being always competitive and having just the right assortment. We’re using EDITD every day to help us make critical buying and trading decisions”.
Rosalind Moralee, a Retail Systems Trainer at ASOS adds: “With new competitors joining the online arena every day it’s getting more challenging than ever to make sure we have the right product, at the right price at the right time. EDITD does a lot of the hard work for us and means we can get the latest information on multiple competitors with just a few clicks.”
Success in the massively competitive fashion business needs accurate and ontime market information. Julia Fowler, EDITD cofounder says: “ASOS is a perfect example of how to make the most out of realtime data. It not only helps them understand everchanging demand, but they can now significantly reduce wastage by making less mistakes in pricing and assortment, and therefore maintaining and accelerating their growth and overseas expansion”.
ASOS is taking their trading seriously. With data, and innovative products like EDITD, ASOS are ontrack to perfect the art of retail using science.
Anthony Benham, Business Change Manager at ASOS says: “In today’s fast paced environment, buyers and merchandisers are under pressure to know every datapoint that affects their world, but can’t possibly have time to do it all themselves. Critical decisions around pricing, assortment and discounting, and keeping an eye on what’s going on across markets is a full time job. EDITD lightens the workload for these people by letting them do all of that without having to travel. Also, EDITD is giving them brand new information about what’s happening on the market that is affecting their business, making their Monday morning trading meetings way more efficient.”
With apparel retail measurement becoming an integral part of how the most successful brands approach their commercial decisions, EDITD unlocks a unique ability for an entire company of multiple branded teams to collaborate and achieve world class performance.
For more information about EDITD, visit www.editd.com.
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.