The 90-store New Zealand-based homewares and sporting goods retailer will use the AI merchandising and supply chain platform to improve forecasting, inventory management and more
NEW YORK, Aug. 21, 2024 (GLOBE NEWSWIRE) — Impact Analytics™, the pioneer of AI-powered planning, merchandising and pricing solutions, today announced its partnership with Briscoe Group, a leading retail conglomerate in New Zealand that operates Briscoes Homewares and Rebel Sport. As part of the partnership, Briscoe Group will implement Impact Analytics’ AI merchandising and supply chain platform, including PlanSmart, AssortSmart, InventorySmart and AttributeSmart, to make data-driven decisions, improve forecast accuracy, optimize inventory management and ultimately deliver a superior customer experience.
“After carefully evaluating opportunities to integrate advanced AI capabilities into our operations, we chose Impact Analytics because of their exceptional retail-focused platform and experienced team of experts,” said Andrew Scott, COO of Briscoe Group. “The platform’s ability to quickly deliver value through dynamic module interaction and sophisticated AI predictions will future-proof our business and ensure we remain at the forefront 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 commitment 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 their merchandise financial planning and effectively manage open-to-buy budgets. It uses AI-driven forecasting to improve 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 overstocking or stockouts.
AssortSmart is an AI-powered assortment planning software that enables leading retailers like Briscoe to create customer-centric, profitable and localized assortments across multiple locations. By analyzing massive amounts of data and using advanced algorithms, it helps retailers make informed decisions to maximize sales, minimize markdowns and increase overall profitability.
InventorySmart is an AI-powered forecasting engine that enables retailers to accurately predict inventory needs and increase profitability by reducing excess inventory and optimizing assortment and distribution. By considering over 200 variables, InventorySmart provides decision makers with a comprehensive understanding of demand, ensuring informed inventory management and strategic planning.
AttributeSmart is an AI-powered automatic product labeling software that helps retailers improve the discoverability and merchandising of their products. It uses computer vision and machine learning to automatically generate accurate product labels from various sources such as images, text descriptions and customer reviews.
About the Briscoe Group
Briscoe Group is a leading retail group in New Zealand, operating 90 stores and two websites under the Briscoe Homewares and Rebel Sport brands. The company is committed to providing its 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 consumer goods industries. With tools for planning, forecasting, merchandising, and pricing, Impact Analytics enables companies to make smart, data-driven decisions instead of relying on last year’s numbers to forecast and plan this year’s business. The company also offers tools to automate functions that the industry has long managed manually via spreadsheets, and to unify and streamline reporting so executives can rely on a single source of truth to make their decisions. Impact Analytics was founded and is led by Prashant Agrawal, a former senior consultant at McKinsey and Boston Consulting Group and currently an adjunct professor at Columbia University teaching about the use of AI in retail.
For more information, see Impact analysis.
Media contact
For Impact Analytics:
Danielle Poggi
Berns Communications Group
[email protected]
