Success in traditional department and specialty stores is a fine balance of inventory management, staffing, and marketing. In the past, getting accurate POS data in a timely manner and then making it actionable has been a time-consuming challenge for brands, regardless of size. While technology has been a focus on the front end of the retail equation to activate the consumer experience, finally we’re seeing a focus on the invisible technology enhancing the operational back end. Collaboration on POS data is a win-win.
Sky IT Group, a global leader in retail business intelligence solutions, announced a partnership with Saks Fifth Avenue that will improve the vendor’s selling data distribution processes for Saks, while empowering its brand partners with timely and consistent visibility into selling activity data. Both merchants and brands will have access to product-level insights within a self-serve and collaborative reporting platform.
“We are continuously looking at ways in which we can drive productivity, enhance collaboration, and strengthen business insights,” said Tracy Margolies, Chief Merchant, Saks Fifth Avenue. “The data that SKYPAD’s platform delivers will enable our merchants to connect with our vendor-partners in a more efficient manner, helping us to better meet our ultimate goal of delivering our customers an unparalleled shopping experience.”
“SKYPAD has partnered with some of the most forward-thinking luxury retailers in the world, such as Saks Fifth Avenue, who appreciate the value [of] collaborative analytics,” stated Jay Hakami, President & CEO of Sky IT Group. “With SKYPAD, the conversation between buyer and seller is based on the accurate insights, trends, and ‘one vision of the truth’ that will drive increased profitability for the retailer and supplier.”
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