NEW YORK & LONDON--(BUSINESS WIRE)--EDITED, the leading global retail intelligence platform, is excited to announce the release of enhanced functionality within its Beauty vertical solution, with a focus on cosmetics and personal care items.
In the ever-evolving beauty industry that welcomes both established brands and emerging direct-to-consumer players, maintaining relevance has become a significant challenge. The industry's accessibility has led to a surge in new entrants, intensifying the competition among market participants.
EDITED's Retail Intelligence platform takes a significant step in providing the most comprehensive beauty market data insights to help retailers thrive. These enhancements include more accurate classifiers, now tracking over 3,000 retailers that carry beauty.
The enhanced functionality in the platform offers a holistic business perspective by covering:
- Pricing dynamics to increase profit margin
- Promotional strategies that target the highest-value customer profiles
- Trend tracking for future assortments and planning
- Competitor data to identify whitespace opportunities
From product preferences and marketing touchpoints to location preferences, costs, returns, reviews, shopping behavior, loyalty, and profitability, EDITED ensures a thorough understanding of the beauty market landscape through its robust technology.
Retailers are able to strategically analyze anything from pricing structure, assortment, color, discounting, and more in various markets they’re already in or planning to enter. Merchandisers and buyers can then make better-informed decisions based on data to generate a competitive advantage, resulting in higher revenues and reduced discounting rates.
"Our dedicated retail team understands firsthand the challenges businesses face in an increasingly competitive beauty landscape. With EDITED’s enhanced functionality, our platform facilitates data-driven decision-making, enabling businesses to drive localization, personalize strategies, and implement profit-driving actions for their beauty brands."
- Brian Tomz, Chief Product Officer at EDITED
As the beauty industry continues to grow and evolve, EDITED remains committed to delivering innovative solutions that empower businesses to navigate challenges successfully. The enhanced functionality within the Beauty vertical is a testament to EDITED's dedication to providing cutting-edge retail intelligence for the benefit of its clients.
About EDITED:
EDITED is the world’s leading AI-driven retail intelligence platform that empowers brands and retailers with real-time decision making power that drives profit and inspires customers. We help retailers increase margins, generate more sales, and drive better business outcomes through AI-powered market and enterprise intelligence that fuels automation. By connecting business analytics and external market data, the world’s most successful brands and retailers use EDITED’s platform to get closer to their best customers and future-proof their business.
