Market Insights Made Easy for Speed and Precision

Market Insights Made Easy for Speed and Precision

Written by OmnilyticsApril 29, 2021

Market Insights Made Easy for Speed and Precision

With the recent mass digitisation of fashion retail due to the pandemic, merchandisers, buyers, and designers are increasingly relying on insights to power decision-making.

The need to move away from gut feel to actionable insights is becoming more urgent given the high level of competition in online trading. For many brands and retailers new to external market insights, the sheer volume of online information can be overwhelming.

As a fashion market insights platform, we are deeply invested in innovation and continue to find ways to help our customers to excel in this transformation. Our goal is to ensure that the products we create are not just simple to use, easy to understand and visually appealing, but ultimately solve the problems faced by retailers today.

We are very excited to unveil a new module specific to help everyone in eCommerce optimise data analytics to bolster decision-making. The new Trade Insights module focuses on providing an enhanced user experience, especially for those new to fashion retail data analytics.

Many of the core features of Competitor Benchmarking and Trend Performance modules were adapted for this lighter version yet packed with smart and actionable insights. The new module also facilitates the decision-making thought process by providing chart highlights and framing questions to guide you in formulating next action step(s).

Ease of Navigation

With three easy-to-use navigation panels on the homepage, users can:

  • Monitor Competition & Spot Opportunities
  • Optimise Pricing Strategy
  • Validate Trend Performance

A simple step-by-step guide accompanies each navigation panel. Click on the “Start here” button and select the market, brand, gender and date range of your choice and proceed to hit the “Continue” button on the bottom right to get started.

Why our customers love it: For merchandisers, buyers and designers who are new to data analytics, the sheer volume of data can seem quite daunting. With the step-by-step guide, you are empowered to turn market data into insights with just a few clicks.

Key Insights

Every chart is equipped with a “Key Insights” section highlighting important market performance indicators and main findings. We achieved this by utilising artificial intelligence (AI) and statistical analysis over large datasets to determine outliers and areas of interest at a scale a single user cannot.

With actionable key insights, you can make informed decisions on pursuing new opportunities, changing pricing and stocking in-demand products.

Why customers love it: With greater visibility on key insights, you can quickly grasp the main points in your analysis. Increasing analytics adoption across departments is no longer a daunting task because now anyone can understand and use data in seconds.

Points to Consider

Reading the key insights but unsure of how to adapt to your own business? No worries, we got you covered. Every chart also comes with framing questions to guide thought processes leading to tangible actions that will bring you closer to your business goals.

Why customers love it: You can now confidently build justifications to support your decisions and next action steps.

Generate your very own insights report

Another new exciting feature is insights report generation with just a few clicks. With this feature, you no longer have to spend long hours creating a PowerPoint or document to consolidate the critical insights from your analysis. Instead, you can now add notes to each chart when analysing and directly export the report to PDF.

You can also share your report by simply clicking on “Share” at the bottom right corner to email the PDF to a team member.

Need to retrieve or edit your report? You can save, access, and edit all saved reports at any time by clicking on “My Trade Report” on the Trade Insights homepage. For easy access and retrieval, ensure you click on the header of your report to personalise the title before saving it.

Why our customers love it: With enhanced visualisation, actionable insights and notes on further findings and next steps all in one place, you save valuable time from the tediousness of data gathering, massaging and tabulation. By sharing the generated reports with your team members ahead, meetings are more productive as the team shows up informed and prepared with clear action plans. 

Stay tuned for more!

Save time on a hassle-free solution that will provide you with quality data and visuals to grow your business. The Trade Insights module is just the first step of an integrated solution to support your retail strategies through a seamless process, so stay tuned for more updates!

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