Silicon Valley, CA— April 6, 2016—Bluefly, a pioneer in ecommerce and leading online fashion destination with over 2,500 brands, has partnered with DynamicAction to invest in the SaaS technology solution to further its transition into a pure-play marketplace model. DynamicAction will analyze data from across Bluefly’s organization and prescribe profit-ranked business changes that will improve operations and maximize sales for top designer brands.
Unlike any reporting or analytics solution to-date, DynamicAction will instantly collect, integrate and analyze hundreds of data sources—ranging from third-party media, analytics and attribution data, to Bluefly’s own inventory systems and ecommerce platform data, offering a single view of profit to Bluefly across its entire business. The software will prescribe actions to take across merchandising, ecommerce, marketing and operations to improve Bluefly’s business performance; rank those actions by business impact; and then act as collaboration software to enable rapid, profitable action. As a leading fashion marketplace, this technology will allow Bluefly to continue offering an exceptional experience to their discerning customers and brand partners as well.
The company has undergone a considerable evolution since its acquisition by investment powerhouse Clearlake Capital in 2013, and in the last year has expanded its offerings to beauty, home and children’s categories. As the company has reached its business goals and expanded brand partnerships, global reach and category depth, the number of variables impacting profit has increased exponentially.
“It was imperative to employ technology solutions that are uniquely poised to solve fashion retail issues, and find a partner who could seamlessly integrate, uncover and improve all aspects of our operations. I truly believe DynamicAction will help Bluefly complete our business transition,” says Carly Rosenberg, General Manager and Chief Marketing Officer at Bluefly. “We will now be able to both analyze our data in a historical mindset and solve immediate needs to capitalize on future opportunities; continuing to build our business as the leading fashion marketplace.”
“As we continue to aggressively optimize our marketplace business model, we needed action-oriented technology that provides business-building solutions,” says Rosenberg. “So often, the most challenging aspect of retail success is grasping what happened in the business today, yesterday or last week, understanding exactly why it happened, while simultaneously offering immediate actions to improve performance and customer experience. This is precisely what DynamicAction will offer our team.”
In 2016 (and beyond) retail success hinges on decision makers asking the right questions, understanding the new metrics that drive success, and putting in place the people, process and technology to transform their teams into Merchant Scientists.
“The speed, the ease and the perfection demanded by today’s consumer requires a new balance of art and science in retailing. It means having connected data that drives merchandising decisions, marketing spend tradeoffs and new operational strategies. The retail landscape is more complex—and more exciting—than ever,” said John Squire, CEO of DynamicAction. “We are thrilled to partner with an innovative brand like Bluefly, which has long been a frontrunner in fashion technology. As they seek to fully transition to a marketplace model, they’ll have the prescribed actions and data understanding at their fingertips to make decisions differently, run their organization more holistically and truly leverage their knowledge to expand their brand partners’ businesses rapidly.”
About Bluefly:
For more information, visit www.bluefly.com.Bluefly is the largest online fashion destination offering access to over 2,500 brands. Founded in 1998, we were the first to break the barriers to high style – and today we still lead the way with fashion that doesn’t feel exclusive in price point or attitude, from trendsetters like Prada, Gucci and Vince to vintage Chanel. Find what you seek at Bluefly.
About DynamicAction:
Better decisions. Faster action. DynamicAction is the most advanced analytics solution specifically built for retail merchandising teams.
Connecting and analyzing millions of data points from every part of a retail organization, DynamicAction uses more than 600 proprietary algorithms that encapsulate hundreds of collective years of retail knowledge to pinpoint margin-eating disconnects in the business, prescribe the precise actions to take and accurately rank those actions by financial impact. Merchandising and eCommerce teams run more efficient organizations, sell more at full price, mitigate markdowns, capitalize on demand and increase profit.
Retailers across the globe, including Brooks Brothers, Sur la Table, El Corte Ingles, Tesco, T.M. Lewin, Nine West and Cole Haan, rely on DynamicAction to make better and more profitable decisions in order to get to action, faster.
Leading analyst firm Frost & Sullivan recently declared, “DynamicAction has Moneyballed retail. There’s a new way to run retail organizations—with a clear understanding of data and immediate actions to improve performance.”
Headquartered in Silicon Valley, DynamicAction has offices in London and Dallas. Connect with us at www.DynamicAction.com and @Retail_DnA on Twitter.
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