Answear.com Embraces Oracle Cloud to Transform Retail Planning

In a strategic move to bolster its international growth and refine its merchandise financial planning, Answear.com, a leading fashion e-commerce retailer, has partnered with Oracle Cloud. This collaboration aims to modernize Answear.com’s retail planning processes using Oracle’s AI-enabled Retail solutions, according to oracle.com.

Enhancing Planning Precision

Answear.com operates across 12 European markets, offering over 200,000 premium products from more than 700 global brands. The retailer’s rapid expansion necessitated a sophisticated planning solution to manage its diverse and extensive product range. By integrating Oracle Retail Merchandise Financial Planning and Oracle Retail AI Foundation, Answear.com seeks to improve its management of multi-brand and multi-country operations. This integration will allow for better alignment with seasonal trends and customer demands, ultimately reducing markdowns and optimizing inventory management.

Oracle’s Role in International Expansion

Magdalena Dąbrowska, Board Member at Answear.com, emphasized the need for flexibility and scalability in their planning processes to quickly adapt to customer trends. She noted that Oracle’s Retail Cloud solutions offer the necessary tools to enhance their product offerings and customer experience. The implementation, led by Oracle Retail partner Spyrosoft, aims to provide Answear.com with the intelligence needed to minimize end-of-season stock and improve customer traffic metrics.

Strategic Benefits of AI Integration

The use of Oracle’s cloud-based retail platform and AI Foundation marks a significant shift from product-centric to customer-focused planning for Answear.com. According to Alex Alt, Executive Vice President and General Manager of Oracle Consumer Industries, this transformation is expected to drive more profitable inventory investments and reduce costly markdowns. The collaboration is poised to strengthen Answear.com’s market position by fostering customer affinity and enhancing inventory efficiency.

The integration of advanced AI technologies in retail planning is becoming increasingly critical as e-commerce platforms expand globally. By leveraging Oracle’s solutions, Answear.com aims to remain competitive and responsive to the dynamic fashion retail landscape.

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