SAN FRANCISCO, Calif., Feb. 8, 2016 /PRNewswire/ -- With Fashion Week in sight and online shopping forecast to reach $327 billion this year (Forrester Research, Inc., US Online Retail Forecast, 2011 To 2016), apparel retailers' profitability hinges on their ability to stock just the right quantity of the latest trends and quickly fulfill orders across channels. In the past 6 months, more than 20 fast-growing independent fashion and apparel merchants have enlisted Brightpearl to manage their business, streamline operations, and ensure customer satisfaction to produce greater profits – driving commerce acceleration across channels.
With total luxury goods spend at $78 billion for 2015 and a value share of almost 40%, the U.S. remains by far the biggest luxury goods market in the world. The U.S. is set to grow by an additional $15 billion in the next five years, fuelled by burgeoning demand for affordable (and mid-market) designer apparel, luxury accessories, luxury leather goods, and jewelry. (Euromonitor International)
Brightpearl equips more than 1,400 small-to-medium size multichannel and ecommerce retailers and wholesalers selling luxury goods and myriad other products with innovative technology for purchasing, inventory management, CRM, order processing, accounting, and fulfillment. Also driving growth are investments in web site and service improvements, and new tools that improve the shopping experience (color swatches, zoom, etc.).
U.S.-based Jules Smith and Naked Wardrobe and UK-based Hill & Friends, The Fold and Timothy Everest are among the latest retailers in the fashion and apparel segment to use Brightpearl solutions. The companies join an extensive list of apparel retailers, including Campus Classics, Cristina Sabatini, Cuyana, Oaklandish, and Skunkfunk, already leveraging Brightpearl's cloud-based inventory management and retail business platform for commerce acceleration.
According to Gina Nigrelli-Smith, owner, Jules Smith, "Building brand loyalty and meeting customer expectations drive success in today's hyper-competitive fashion industry. We selected Brightpearl in order to better anticipate and meet customer demand, as well as offer immediate access to accessories that reflect current market trends."
"In the fashion and apparel industry success during key events such as Fashion Week, when design trends may last only one season, as well as year round, depends on savvy buying and having just enough stock on hand to avoid stock outs," said James Scott, president, Brightpearl USA. "Those retailers that pride themselves on offering consumers the latest fashion apparel view Brightpearl as a vital tool to effectively manage inventory and to manage all critical aspects of their business operations, including top-notch customer services across their sales channels."
Brightpearl Enables 3X YoY Growth, Moves $2 Billion in Gross Merchandise Value
Merchants using Brightpearl grow three times faster year-over-year than the average retailer. The platform currently handles more than $2 billion in gross merchandise value annually, and processes an average of 850,000 orders each month.
Brightpearl supports true multichannel retail operations by connecting physical storefronts with a retailer's ecommerce store and online marketplaces. The web-based services enable retailers to:
- manage inventory, orders, customers and finances in a single system
- easily see what products are selling where and when to re-order stock
- leverage customizable sales analysis reports and full order history to better understand their customers and discover important customer segments
- access real-time cash flow analysis to understand profitability across channels, products and customers, and to determine the current cash position and where operations can improve
- Press release: Independent Retailers Using Brightpearl Inventory and Retail Management Software Enjoy 26% Annual Growth; Exceed $2 Billion Annual Sales
- Guide: The Guide to Mastering Multichannel Retail
- White papers:
Warehouse Inventory Optimisation: Assortment Strategy for Fashion Retailers
How Fashion Brands Can Optimize Inventory Season to Season
- Customer case studies: https://www.brightpearl.com/resources/customer-stories
Brightpearl is a powerful-yet-simple retail and inventory management software that helps small- and medium-size retailers and wholesalers expand and compete with larger rivals by streamlining sales and supply chain functions across multiple online and offline channels. Brightpearl's cloud-based software and services enable multichannel merchants to manage the heart of their business by combining purchasing, inventory management, CRM, order processing, accounting, fulfillment, and reporting into a single reliable platform. Founded in 2007 with offices in the U.S. and UK, Brightpearl is used by more than 1,400 merchants around the world. For more information, visit www.brightpearl.com or @BrightpearlHQ.
Lauren Curley (U.S.)