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Leading fashion e-commerce retailer taps Oracle's AI-enabled Retail solutions to enhance its merchandise financial planning and support international growth
Premium fashion e-commerce retailer Answear.com is modernizing its planning processes with Oracle Retail Merchandise Financial Planning and Oracle Retail AI Foundation. With the automated platform, the retailer will now have the tools and intelligence to better manage the complexities of its multi-brand, multi-country operations, adjust to the diverse fashion trends across markets, and support its continued international expansion.
Answear.com is an online store operating in 12 European markets with over 200,000 selected premium products and limited collections from over 700 high-end global brands.
"Our rapid expansion into international markets, coupled with a growing assortment of brands and product groups, demanded a more sophisticated planning solution," said Magdalena Dąbrowska, Board Member, Answear.com. "Oracle's Retail Cloud solutions provide the flexibility and scalability we need to optimize our planning processes, react quickly to customer trends, and ultimately deliver a better product offering to our customers."
Operating on a modern retail merchandising platform will help enable Answear.com to increase planning precision through better accounting for seasonality, old stock, and e-commerce specific performance indicators such as customer traffic. The platform will also provide the retailer with the intelligence needed to help reduce markdowns by better aligning product offerings with customer demand and minimizing end-of-season stock through enhanced inventory management and forecasting.
The implementation was led by Oracle Retail partner Spyrosoft.
"It was truly exciting to work on a project for such a renowned and fast-growing company," said Łukasz Szała, principal, Oracle Retail Planning, Spyrosoft. "Answear.com has an excellent planning team with a clear vision for the future and a strong track record of success, with Oracle solutions aligning seamlessly with their goals."
"With Oracle's cloud-based retail platform and AI Foundation, Answear.com can strengthen its move from product-centric to customer-focused planning," said Alex Alt, executive vice president and general manager, Oracle Consumer Industries. "This transformation can help drive more profitable inventory investments that foster customer affinity, while reducing costly markdown and overstock challenges."
Learn more about Oracle market leading assortment planning solutions at: https://www.oracle.com/retail/planning-optimization/
About Answear.com
Answear.com is a place where fashion and lifestyle meet in the most inspiring way. Operating in 12 European markets, the online store offers an incredible selection of over 500 global brands - from classic style icons such as Michael Kors, Calvin Klein, Furla or Polo Ralph Lauren to modern, designer proposals from All Saints, Victoria Beckham, Tory Burch or Swarovski. With Answear.com you discover fashion anew, creating styles that reflect your personality.
Beyond fashion, Answear.com offers designer home decor to help bring personal style into living spaces. The HOME section is a creative hub filled with carefully curated decorations, accessories, and unique gift ideas.
About Oracle
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SOURCE Oracle
