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Answear.com Upgrades Its Retail Planning with Oracle Cloud

Answear.com, a distinguished name in premium fashion e-commerce, is embarking on an essential transformation of its retail planning processes through the adoption of Oracle's advanced cloud-based solutions. This strategic move aims to fortify their operational framework as they expand across various international markets.

Operating in 12 European countries, Answear.com boasts a diverse portfolio of over 200,000 premium products from more than 700 globally recognized brands. As their product assortment grows alongside an expanding customer base, there was a need for more sophisticated planning mechanisms to navigate the complexities of international retail dynamics.

The Need for Upgraded Solutions

Magdalena Dąbrowska, a board member at Answear.com, highlighted the company's rapid international expansion and the increasing variety of brands as primary motivations for modernizing their planning systems. She stated, "Our rapid expansion into international markets, coupled with a growing assortment of brands and product groups, demanded a more sophisticated planning solution."

By integrating Oracle Retail Merchandise Financial Planning and Oracle Retail AI Foundation into their operations, Answear.com aims to achieve greater flexibility and scalability. This upgrade will enable the retailer to optimize planning processes and respond more effectively to shifts in customer trends, ultimately benefiting their product offerings.

Enhanced Operations with Oracle Cloud

The new, automated platform enables Answear.com to enhance planning precision by taking into account seasonal changes, old stock situations, and vital e-commerce performance indicators such as customer traffic.

With these capabilities, the brand anticipates a noticeable reduction in markdowns by aligning product selections more closely with customer demand. Better inventory management and forecasting practices will also help mitigate excessive end-of-season stock, which is a common challenge in the fashion industry.

Teamwork for Successful Implementation

The implementation of Oracle's solutions was led by Spyrosoft, a trusted partner in retail planning. Łukasz Szała, a principal at Oracle Retail Planning with Spyrosoft, expressed excitement about collaborating with Answear.com, emphasizing that the company's solid planning team possesses a clear vision that aligns well with Oracle's innovative solutions.

Shifting Focus to Customer-Centric Planning

According to Alex Alt, executive vice president and general manager of Oracle's Consumer Industries division, the partnership facilitates a critical shift from product-centric planning to a more customer-focused approach. Such a transformation is vital in fostering profitable inventory investments that align with customer preferences while curbing issues related to markdowns and overstock.

The Broader Spectrum of Answear.com

Beyond just fashion, Answear.com extends its offerings to include high-quality home decor items, helping customers personalize their living spaces. This breadth of offerings solidifies Answear.com's position as a holistic lifestyle destination where fashion meets functional design.

In a landscape where customer expectations and fashion trends are constantly evolving, the integration of Oracle's cloud-based solutions signifies Answear.com's commitment to innovation, excellence, and customer satisfaction.

As the retail landscape continues to change, the steps taken by Answear.com not only prepare them for immediate challenges but also position them for sustainable growth and success in the future. For more information on Oracle’s retail planning solutions, visit Oracle Retail.