90-Store New Zealand-Based Home Goods and Sporting Goods Retailer Will Use the AI-Merchandising & Supply Chain Platform to Enhance Forecasting, Inventory Management and More
NEW YORK, Aug. 21, 2024 (GLOBE NEWSWIRE) - Impact Analytics™, the pioneer in AI-powered planning, merchandising and pricing solutions, today announced it has partnered with Briscoe Group, a leading retail conglomerate in New Zealand which operates Briscoes Homewares and Rebel Sport. Under the terms of the partnership, Briscoe Group will implement the Impact Analytics AI-Merchandising & Supply Chain platform, including PlanSmart, AssortSmart, InventorySmart, and AttributeSmart, to make data-driven decisions, improve forecasting accuracy, enhance inventory management, and ultimately deliver a superior customer experience.
“After thoroughly evaluating opportunities to integrate advanced AI capabilities into our operations, we selected Impact Analytics for their exceptional retail-focused platform and team of seasoned experts,” said Andrew Scott, COO of Briscoe Group. “The platform's ability to deliver rapid value through dynamic module interaction and sophisticated AI forecasting will future-proof our business, ensuring we remain at the cutting edge of retail innovation."
"We are proud to partner with Briscoe Group on this incredible business transformation,” said Prashant Agrawal, CEO of Impact Analytics. “The Briscoe group team's dedication to retail excellence and innovation is truly inspiring. We are confident that our AI-powered platform will enable them to achieve their strategic goals and drive sustainable growth."
The Impact Analytics PlanSmart module is designed to help retailers optimize merchandise financial planning and manage open-to-buy budgets effectively. It leverages AI-driven forecasting to enhance the accuracy of financial plans, ensures better alignment with demand and inventory needs, and helps retailers make data-driven decisions to improve profitability and reduce the risk of overstock or stockouts.
AssortSmart is an AI-powered assortment planning software that enables leading retail companies like Briscoe to create customer-centric, profitable, and localized assortments across multiple locations. By analyzing vast amounts of data and using advanced algorithms, it helps retailers make informed decisions to maximize sales, minimize markdowns, and enhance overall profitability.
InventorySmart is an AI-powered forecasting engine that enables retailers to accurately predict inventory needs and drive profitability by reducing overstocks and optimizing assortments and distribution. By considering over 200 variables, InventorySmart provides decision-makers with a comprehensive understanding of demand, ensuring well-informed inventory management and strategic planning.
AttributeSmart is an AI-powered automated product tagging software that helps retailers improve product discoverability and merchandising. It uses computer vision and machine learning to automatically generate accurate product tags from various sources including images, text descriptions, and customer reviews.
About Briscoe Group
Briscoe Group is a leading retail conglomerate in New Zealand, operating 90 stores and two websites across the Briscoe Homewares and Rebel Sport brand. The company is committed to providing customers with quality products, exceptional service, and a seamless shopping experience.
ABOUT IMPACT ANALYTICS
Impact Analytics offers a holistic suite of AI-powered solutions to help brands future-proof their businesses using predictive analytics. The company has been pioneering and perfecting the use of AI in forecasting, planning and operations for nearly a decade, serving the retail, grocery, manufacturing and CPG industries. With tools for planning, forecasting, merchandising and pricing, Impact Analytics enables companies to make smart, data-based decisions rather than relying on last year’s figures to forecast and plan this year’s business. The company also offers tools to automate functions the industry has long managed manually by spreadsheet and to unify and streamline reporting, so executives can rely on a single source of truth when making decisions. Impact Analytics was founded and is led by Prashant Agrawal, a former senior consultant at McKinsey and Boston Consulting Group and current Adjunct Professor at Columbia University who teaches about the use of AI in retail.
To learn more, visit Impact Analytics.
Media Contact
For Impact Analytics:
Danielle Poggi
Berns Communications Group
dpoggi@bcg-pr.com