Welcome to the first post on our brand new Mallzee Insights blog, where we will be sharing analysis, opinions and actionable insights on the apparel industry. With Mallzee generating over 20m customer opinions every month we’re uniquely positioned to help brands and retailers grow using data and this new blog is the start of our journey to do just that.
Mallzee Insights - optimising profits and predicting the future...
For many brands and retailers November should be one of the most positive months, it’s the start of peak trading and some companies can expect to see 50% of revenue generated in just two months, but this year the mood, for most, is far from positive. BDO have just announced the biggest drop in high street sales since their price tracker started, with a 5.2% drop since October last year. New Look have one of the major retailers hit with this and just reported a crash in their profits in Q3 with a 8.3% fall in sales to September.
With Amazon announcing their intention to launch an aggressive pre-Christmas push of their fashion lines in Australia, it cannot be long before the online behemoth starts to do the same in the UK as well, just adding to the woes of everyone.
The opportunities in retail are bountiful and online is multiplying these at an unprecedented rate, but the gulf between those getting it right and growing and those who aren’t, has never been so obvious.
This was the driving force behind Mallzee Insights, our offering to brands and retailers of all sizes harnessing the unique data our 20m customer opinions generated each month by our award winning shopping app.
It is also the reason why we decided to start our new content programme that will see us share data, knowledge and actionable insights from our work with brands and retailers across the UK and US, including our views on emerging trends in the industry and opinion around how data holds the key to unlocking profitable performance even in these difficult trading conditions.
The data element to us is the most interesting, with over 450m customer opinions generated on products in the last 3 years we now sit on a treasure trove of unique information about what works and what doesn’t for companies of all sizes.
This insight helps us tackle what we consider the two most damaging problems in retail today, over and under stock. Every company no matter their size is effected by one of these problems yet it is an area often neglected or overlooked. Assumed that it’s just one of those things that can’t really be improved. In reality with the right data and customer insight it’s an the area that can drive significant improvement to trading and overall financial performance. It’s what Product Future by Mallzee focuses on entirely and what our Retail Insights Managers talk to partners about every day.
So, come with us on a data led journey to improve performance and we will share the insights and lessons we learn along the way.