Global fashion forecaster specialising in consumer, fashion and design trends, WGSN has included Indian retailers and e-tailers on INstock.
WGSN INstock is an online retail analytics system that provides fashion retailers with fast, in-market intelligence to inform business-critical buying and merchandising decisions. The system tracks more than 40 million products from 12,000 retailers in UK, US, Australia and Spain and will also include retailers from India starting April 2015. The first retailer to be added to WGSN INstock is YepMe, an online shopping company.
“The US$ 585 billion Indian retail market is expected to become worth US$ 1 trillion by 2020, out of which, approximately 10 per cent is fashion and apparel retail alone. This exponential growth of retail in India makes it one of the most important markets for WGSN INstock. With WGSN INstock, retailers gain the much needed insight into their business and global trends, which is essential to survive competition and customer’s expectations in today’s fashion world,” said Dan Cotton, Executive Vice President, WGSN Asia-Pacific.
“As fast-fashion becomes ever faster, the need for on-demand data to be in the hands of decision makers becomes ever more critical. Therefore, WGSN is essential for retailers to make intelligent business decisions with accurate data and respond quickly to mark-down opportunities. It helps retailers to capture market share by identifying future best-sellers, opportunities in pricing architecture and time your product drops to maximise revenue. WGSN INstock also helps retailers in benchmarking the financial health of their competitors,” added Cotton.
WGSN INstock provides fashion retailers with fast, in-market intelligence to inform business-critical buying and merchandising decisions. The system is intuitive to use and has been designed to dovetail exactly into the workflows of buyers, merchandisers as well as designers, marketers and C-suite.
The taxonomy and interface has been built by WGSN experts, many of whom were former senior buyers and merchandisers at large retailers. The service is intended to be used in conjunction with WGSN’s trend forecasting service.
“We are delighted to be associated with WGSN INstock and are confident that their real time data insights from 4 continents and analysis will help us create successful retail market strategies”, said Anand Jadhav, President, YepMe.
WGSN INstock is part of WGSN Limited, comprising of market-leading products including WGSN, WGSN Lifestyle & Interiors and WGSN Mindset our bespoke consultancy services.
The tool is designed to provide contextual data and insight for a range of job functions within the retail industry including buyers, merchandisers and C-level executives. WGSN INstock uses advanced data science to enable fashion companies to make better buying decisions.