A fast-fashion brand with strong presence throughout Asia, selling both women’s and menswear with products ranging from apparel to footwear, bags and accessories.
Fast-fashion moves incredibly quickly, from identifying a trend to being on the racks within 2-3 weeks. In this highly competitive market, brands that fail to keep up and deliver frequent launches will lose their customers to their competitors. Comp shopping is crucial is helping brands understand what their competitors are doing: what’s selling well and what isn’t, what prices or discounts they’re offering, what visual merchandising approach they’re taking. This process is an incredibly laborious one, involving many hours and manpower. The client was looking for a way to speed up the comp shopping process and channel resources into sales-driven activities.
The client began utilising Omnilytics’ Competitor Benchmarking solution to streamline their comp shopping process. What used to take 8 staff 7 days to complete, now took only 1 staff and half a day. Through the dashboard, they were able to analyse their competitors’ full range of products and stock movements, validate top performing trends and identify key colours, prints or sizes they were missing out on; all in real-time.
“Before Omnilytics, the process was a lot more manual, time consuming and prone to human error. Our team is so much more confident with the accuracy of the data we obtain through the Dashboard. We now channel the time saved into other productive activities that have contributed to our 30% sales growth this quarter.” – Merchandising Manager.
Omnilytics has also made collaborative work more efficient between teams. Data obtained by the merchandisers are easily and quickly shared with the buyers. The granularity of the data on the dashboard means that recommendations can be provided down to the level of materials, colour shades, sizes and prints; something that would not be possible through manual comp shopping.
The client understands the value of real-time data in a highly competitive and fast-paced industry. Using Omnilytics has provided them with the ability to react quickly and with confidence, knowing that their decisions are backed by data.