LONDON — October 21, 2015 — EDITED, retail’s leading analytics software, is playing a powerful behind-the-scenes role in India’s e-commerce boom.
With online marketplaces like Flipkart, Myntra, Yepme and others forecasting record-breaking profits during the 2015 festive season stretching from October to December, real-time market data from EDITED has helped them perfect their offerings for consumers across the hard-to-pin-down Indian market.
“India is an extremely diverse country with an unbelievably wide range of customer choices and market trends. This is where EDITED data plays a crucial role for us in fashion,” says Rishi Vasudev, Vice President of Fashion at Flipkart.
Flipkart, one of India’s unicorn league e-commerce platforms, uses EDITED data, in part, to sustain the 12-15% month-on-month growth in its apparel category.
“Our focus is to build the largest and most relevant selection across all price points, and we rely heavily on data and technology to drive this,” says Vasudev. “EDITED tells us the latest trends across India and the globe. We use it to build a great selection and effectively merchandise our products so we remain the most relevant lifestyle destination in India.”
Anand Jadhav, President and co-founder of Yepme, India’s biggest online fast-fashion retailer, says his company uses the data it gets from EDITED to commercially assess assortments inside and outside of India to see what styles and items are working before it invests in them.
“Being a fast-fashion brand, we are constantly tracking brands and emerging trends in different markets. With EDITED, the data we get on products across many brands and retailers is very rich and helps us reduce our margin of error on the product side,” says Jadhav. “It helps us strengthen current products and plan for expected trends in the near future, thereby making our inventory far more efficient and reducing our financial risks.”
Mobile-only retailer Myntra also uses EDITED to keep an eye on competitors and, according to Vice President of International Business Shifali Singh, the company looks for opportunities within India’s broad range of market segments.
“With the rise of mobile-internet users, our demand for correct and accurate data becomes paramount. Hence, EDITED is very handy and helps our business manifold,” says Singh. “EDITED gives us a clear indication of the entry and exit price points of our competitors and enables us to sharpen our pricing strategy effectively. It helps us identify price gaps and provide a competitive MRP to our customers.”
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.