4 Reasons Fashion Retailers Need to Embrace Digital Transformation

The fashion world today is incredibly complex and fast-moving, with the only constant being change. One of the most important questions brands and retailers must ask themselves is "how can we adapt to this constant change?"

For many of the world’s leading brands, retailers and manufacturers the only way is to embrace digital transformation. With powerful AI-driven solutions, teams can communicate seamlessly across departments, overcome complex supply chains, track sustainability efforts, cut production costs, understand what products customers want, keep on top of trends and optimize pricing and allocation for every SKU in every channel in every location.

Join the upcoming digital event ‘How to Plan, Execute & Price a Customer-Centric Assortmen’ and discover the solutions that together on 1 state-of-the-art platform enable teams across product development, planning and pricing lifecycles to design, develop, source, produce, plan, merchandise, assort, price, allocate, replenish and re-order seamlessly.

Save Time and Money During Product Development

Unreliable and scattered data, supply chain complexity and siloed working can quickly cause low productivity and slow time to market. Investing in a market-leading Product Lifecycle Management (PLM) solution drives collaboration, processes, decision making, transparency and automation so brands and retailers can harmonize product data, speed time to market and maximize margins.

Develop Merchandise Plans within Financial Targets

Stop wasting weeks of time developing a merchandise financial plan for hundreds of product SKUs across categories and locations, in spreadsheets. Move towards a retail planning solution to distill enormous amounts of data into clear and accurate patterns and forecasts that can then be cascaded down into sales and channel plans. Further develop more granular range and assortment plans using accurate and up-to-date data.

Create Assortments Customers Want

Having access to 360° market intelligence is crucial for staying ahead of competitors as companies fight to remain relevant. Know what competitors are selling, when they’re discounting, what colors and styles they’re investing their inventory in and what consumers are searching for. These valuable insights enable merchandisers to discover gaps in their assortments, pinpoint trends and white space opportunities and develop assortments that their customers want.

Influence and Fulfil Customer Demand

Now you have the products your customers want, brought to market on time and cost-effectively, it’s crucial to price optimally and place them where customers expect. AI-driven tools drive optimized pricing for every product across the various stages of the retail lifecycle along with initial inventory allocation, replenishment and re-ordering. Reduce overstocks and stockouts, decrease heavy discounting, sell more products closer to full price and maximize efficiency, margins and revenue.

Explore Centric Software’s AI-Driven Solutions

Until now, there hasn’t been an end-to-end solution that provides both the intelligence needed to drive pricing and style-related decisions while optimizing factors impacting consumer experience such as product availability, time to market and quality.

Centric Software’s updated suite of solutions offers just that. Join the upcoming digital event and discover why 770+ market-leading brands and retailers partner with Centric to help build a solid digital foundation for growth.