In today’s highly competitive retail market, businesses need to make data-driven decisions to stay ahead of the curve. This is where InovRetail comes in, a Portugal-based predictive analytics company focused on helping retailers predict promotional impact, stockouts, and sales baselines. Their cutting-edge technology has been a game-changer for players like Levi’s, Nike, and many others.
Predicting Sales Baselines and Promotional Impact
One of InovRetail’s primary offerings is predicting the sales baseline and promotional impact for fashion retailers. Using their state-of-the-art predictive analytics tools, they isolate what share of the sales is due to promotions in place, weather conditions, specific holidays, and even local football games. In some cases, the difference between predictions and real observations is less than 2%, which is truly remarkable.
This level of accuracy enables fashion retailers to plan promotions more effectively, optimize their inventory, and improve their overall sales performance. InovRetail’s technology can also help retailers make better decisions about where to allocate resources, whether it’s adjusting their marketing campaigns or stocking up on certain items.
Predicting Churn Patterns
Another critical aspect of InovRetail’s offering is predicting churn patterns for fashion retailers’ clients. Their predictive analytics tools allow them to identify which customers are more likely to churn and take action before it’s too late. By predicting churn patterns, fashion retailers can target specific customers with tailored promotions or communication, helping to increase customer loyalty and retention.
Predicting Stockouts
InovRetail’s technology is also being used to predict the products most likely to be out-of-stock and in what locations. This optimization of logistics and operations by several orders of magnitude is particularly useful for fashion, food, and sports retailers. By anticipating which products are likely to run out of stock, retailers can adjust their inventory levels, improve supply chain management, and enhance the overall customer experience.
InovRetail’s sophisticated algorithms and predictive models have a proven track record of success, enabling retailers to make data-driven decisions that drive sales and enhance customer loyalty.
Conclusion
InovRetail is revolutionizing retail predictive analytics, providing retailers with the tools they need to stay ahead of the competition. Their predictive models are highly accurate, providing retailers with critical insights into promotional impact, sales baselines, churn patterns, and stockouts. With a customer base that includes Levi’s, Nike, and many others, InovRetail is poised for continued growth and success.
Website: https://www.inovretail.com/
Twitter: https://twitter.com/inovretail
LinkedIn: https://www.linkedin.com/company/inovretail/
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