Nextail, the smart platform for retail merchandising, has today announced that it has been recognized in The Retail Planning Platforms Landscape, Q3 2023 from global analyst firm Forrester Research.
Retailers face the complex challenge of effectively handling various constraints including lead time, transportation, space, and costs. Equally vital is synchronizing product availability with marketing initiatives. To mitigate these challenges, retailers can make use of retail planning platforms. These technical solutions best apply a blend of data, analytics, machine learning, AI, and human intuition to predict demand and curate localized assortments and campaigns. Moreover, retail planning platforms can improve product availability, increase inventory turnover, and safeguard profit margins by making more informed stock and assortment decisions.
“We are excited to have been included in this Forrester report,” said Juan Avedillo, Co-CEO of Nextail. “Creating and offering assortments that anticipate demand and ensure profitability require the right blend of data, analytics, machine learning, AI, and intuition. We believe our inclusion in the Forrester report validates the Nextail mission of enabling brands and retailers to meet evolving demand while maximizing full-price sales across points of sale.”
Retail planning platforms, once isolated and ad hoc analytics projects, are evolving into enterprise-level collaboration platforms. The Nextail platform challenges the idea of planning and execution as two distinct functions. By connecting the entire merchandising lifecycle, from planning, to buying and distribution, retailers can adapt more rapidly to changing market conditions through data, automation, cross-functional coordination, and localized decision-making that is connected to real demand.
The report is available online to Forrester customers or for purchase here.
Nextail was also recently recognized by Gartner in the 2022 Market Guide for Retail Forecasting, Allocation and Replenishment Solutions as well as in the 2022 Market Guide for Retail Assortment Management Applications: Short Life Cycle Products. Global fashion and home variety retailers value Nextail for the power and accuracy of its demand forecasting and the way it enables them to enhance merchandising planning strategies, improve operational efficiency, and curate more profitable assortments in a single platform, all while benefiting from fast implementation, scalable architecture, and dedicated support.
