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30 to 50 percent of promotions have no positive impact on sales and margins. Even worse, many of them reduce profits without leading to additional sales
NEW YORK, NY, June 01, 2017 /24-7PressRelease/ -- StyleSage, a retail analytics and market intelligence platform, has just released a new tool that tracks exactly what's happening in the promotions world: the volume, the frequency, and the messaging being used to reach today's inundated consumers.
If you've paid even the slightest attention to the headlines over the past few months, you know that the retail industry is in the throes of major crisis. While there is no shortage of speculation around what's causing the upheaval, without a doubt, one of the factors in the mix is retailers' heavy reliance on promotions to drive sales. But aside from your exploding inbox as anecdotal evidence that it's out-of-control, what's really happening?
The tool was developed to streamline the traditionally manual and time-intensive process of aggregating promotional data. With this tool, retailers can index in- and post-season promotional activity, with customized real-time alerts, so that brands can avoid the margin attrition that occurs when over-promoting.
Key Product Features Include:
1. Real-time tracking of promotional volumes and amounts by gender and product category.
2. Aggregated data from more than 200 of the most promotionally-active retailers in the market.
3. Extraction of visuals and specific promotional messaging on retailers' home pages and email campaigns captured via best-in-class image recognition technology.
4. Real-time alerts of promotional movements by competitive set.
5. Detailed timeline views of promotion type, amount, and category.
Need help deciphering the promotions landscape? Find out more information here or get in touch.
StyleSage is a retail analytics company that was built by and for the fashion industry. Supported by best-in-class image recognition and machine learning technology, its platform enables fashion brands to make proactive and profit-maximizing e-commerce decisions, by monitoring competitor's assortment, pricing, and promotion movements, daily collection of millions of social media and e-commerce data points. Learn more here.
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