Saks Fifth Avenue is upgrading its buying process and merchandising approach.
The high-end department store chain has teamed up with wholesale e-commerce platform NuOrder, whose technology would allow the retailer to forecast trends, curate them online and deliver fresh apparel, footwear and accessories products to customers.
Through NuOrder, buyers are able to browse products, plan their assortments and make their purchases in real-time. The website’s system — which it said presents a full seasonal market buy in a “visually compelling” and “easy-to-use” presentation — would allow Saks to more efficiently identify merchandise that aligns with seasonal trends and customer expectations.
“To maintain our leadership in luxury retail, we have been evolving our merchandise strategy to continually deliver the best edit for our customers, when and where they want it,” Saks Fifth Avenue chief merchant Tracy Margolies said in a statement. “While these efforts have been underway for some time, the current environment has given us the opportunity to accelerate our plans.”
The New York-based company added that it would use NuOrder’s data-driven platform to better collaborate with its vendor partners, as well as improve inventory efficiency and ensure that merchandise sells through all of its channels. It announced plans to use the technology across its buying, planning, digital and marketing functions, including product decision-making and performance analytics.
What’s more, Saks vendors will be able to use centralized digital linesheets and catalogs through the use of the program, which would help them collaborate in real time and subsequently streamline their selling experience.
“Now more than ever, the industry needs to evolve how it’s doing business, and Saks is at the forefront of driving innovative change at a time the industry needs it the most,” said NuOrder co-founder and co-CEO Olivia Skuza. “By adopting technology to visualize the product assortment right down to the store level, it will help push Saks and their vendor partners forward.”