Asos increased sales by 33% in the four months to December 2013 using real-time pricing software that pulls in data from across the web to inform buying and merchandising decisions.
The software tracks competitors’ prices and other market data to help buyers and merchandisers make better informed decisions on what products to stock, how to price them and when and how much to discount by.
The fashion retailer started using the software 12 months ago and has recently rolled it out to more than 200 staff who now access the system over the web.
It says it has increased revenue by 37% in the four months to December 2013, while sales grew 33%. The retailer is working with data firm Editd.
Anthony Benham, business change manager at Asos said: “In today’s fast paced environment, buyers and merchandisers are under pressure to know every datapoint that affects their world, but can’t possibly have time to do it all themselves.
“Critical decisions around pricing, assortment and discounting, and keeping an eye on what’s going on across markets is a full time job. Editd lightens the workload for these people by letting them do all of that without having to travel. Also, Editd is giving them brand new information about what’s happening on the market that is affecting their business, making their Monday morning trading meetings way more efficient.”
Asos retail director Maria Hollins added: “At Asos, being first for fashion means being always competitive and having just the right assortment. We’re using this software every day to help us make critical buying and trading decisions”.