In today's challenging retail environment retailers are taking less risks on stock and are becoming ever more data driven, fuelled by discount rates that are now approaching 50 per cent and fears of stockout on the best performing products. The partnership with Mallzee Insights will provide in-depth customer insights on exhibitor’s products designed to help drive sales, support opinions on products with hard data, whilst providing insights to retail partners that will improve full price sales through improved merchandising and targeted marketing, said Jacket Required in a press release.
Jacket Required exhibitors will receive a free trial with the opportunity to put forward 10 products generating thousands of consumer opinions. The best performing products will be highlighted at the show and discussed in a dedicated session at the show on July 24.
“We currently work with a range of fashion retailers helping them optimise their product ranges and improve margins using our unique pre-release product testing solution - Product Future. Partnering with tradeshow visionaries, Jacket Required enables us to deliver the first ever fully personalised interactive data driven tradeshow, generating over 38,000 customer opinions on the actual products being showcased at the show rather than just talking about data! Exhibitors can then benefit first-hand from receiving authentic customer opinion and insights on their products, said Cally Russell, founder and CEO Mallzee Insights.
“The retail market is tough and with consumer behaviours evolving more rapidly than ever before, the ability to add customer opinion on products into the decision making process helps protect retailers against over and under stock positions which crucify margins.”
“It is our combined vision to make retail better and more efficient, helping brands and retailers bring the right products to market, empowering buying teams with compelling data driven insights over ‘gut’ decisions, and move away from financially unsustainable strategies. Pre-release product testing solutions is also another important tool in enabling designers and brands to create less unwanted stock and reduce waste in their journey to becoming more sustainable,” said Adam Gough, event director at Jacket Required. (PC)
Fibre2Fashion News Desk – India
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