New app to boost profitability

Mallzee aids retailers with forecast tool

Cally Russell 4Personalised shopping app Mallzee has launched a forecasting tool that helps maximise profitability for fashion retailers by pointing them towards the best selling items.

Product Intelligence gives retailers predictive insights on trends so they can make better stock purchasing decisions.

It is estimated that billions of pounds are lost in the fashion industry every year as a result of poor discounting and stock ordering.

They are also suffering from rising costs and levies, together with falling disposable income among consumers as inflation rises.

Cally Russell (pictured), founder and chief executive of Mallzee, said: “We developed Mallzee to make it easy for consumers to find and buy high street fashion via their mobiles.

“We realised that if we could harness real time consumer data we could make a difference to profitability for our partners.”

A recent McKinsey report revealed that simply changing pricing strategy by 1% can increase profitability by 8.75%.

David Lonsdale, director of the Scottish Retail Consortium, said: “The success of retailers in this fast changing world will be down to their ability to evolve and adapt. As in all industries knowledge is key, which is why technology will drive success in 2017 for retailers.”

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.