Department store John Lewis Group using new market insight technology to keep track of competitor pricing in fashion
The retailer has signed a contract with EDITED to help it to check pricing, discounting, assortment and marketing strategies across apparel, footwear and accessories ranges against the retail market.
EDITED’s platform and technology will help the retailer use data to support decisions related to buying and stocking all fashion lines, as well as children’s wear, shoes and accessories.
By using artificial intelligence and natural language processing, EDITED is providing real-time data to the retailer’s buyers and merchandisers, ensuring the department store is buying the right amount of stock for its customers; choosing the
most appealing fabrics, colours and sizes; and make pricing decisions informed by the market.
Christine Kasoulis, fashion buying director at John Lewis
, said the new technology would help provide its buying teams with rich data to inform decision about the products it offers customers.
She said: “The data provided by EDITED
helps us keep pace with what our customers are looking for across the whole market, informing the decisions we make about how we can deliver on this ambition. We chose EDITED because we were looking for a tool that could support our own sourcing and pricing strategies, while also identifying new opportunities.”