Retail analytics gets a new edge

WGSN recently announced the inclusion of India retailers and e-tailers on WGSN INstock.
 Retail analytics gets a new edge
WGSN, global foresight business specialising in consumer, fashion and design trends, recently announced the inclusion of India retailers and e-tailers on WGSN 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. WGSN INstock 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.
Dan Cotton, Executive Vice President, WGSN Asia-Pacific stated, “The US$ 585 billion Indian retail market is expected to become worth US$ 1 trillion by 2020, out of which approximately 10 percent 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.”
“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 maximize revenue. WGSN INstock also helps retailers in benchmarking the financial health of their competitors.” he further added.
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.
According to Anand Jadhav, President, YepMe, “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.”
WGSN’s Influence extends beyond fashion & beauty to interiors, home, FMCG, automotive, leisure, branding and telecoms. The company has a customer base of over 75,000 users across 4,000 global businesses including M&S, Next, Topman, H&M, Puma, Primark, Asda George, Mr Price (South Africa), Woolworths (South Africa), Schuh, Sweaty Betty, Ted Baker, John Lewis, Dorothy Perkins, Nike, Adidas, Gap, Club Monaco, Lee, Levis, Coach, Kate Spade, Victoria’s Secret, Apple, Samsung, P&G, Coca Cola, Starbucks and Diageo.
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