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Inventorying new arrivals is essential to avoid missing out on emerging trends and business opportunities. Fashion Benchmarking enables you to evaluate the strengths and weaknesses of your collections, as well as the comparative advantages of rival brands.

This visibility makes it possible to adjust collections and apply relevant best practices. By identifying and comparing key market metrics that pinpoint the chief differences between your collection assortment and that of your competitors, you can better differentiate your offering.

Why perform automated fashion benchmarking?

Automated competitive analysis solutions give you the real-time visibility you need to release the most successful collections at the right price. In particular, they let you:

• Monitor the competition faster and more cost-efficiently.
• Get greater returns from your company’s time and resources.
• Improve product mix and planning with real-time market insight.
• Achieve the perfect price model with the right price positioning.
• Accelerate time to market to produce and deliver styles on trend.
• Ease cash flow by cutting costs and reducing unsold stock.
• Increase your profitability by releasing the designs consumers want.

• Compare competitor collections in a few clicks.
• Graphically chart price change patterns.
• Stay on trend by quickly changing your product mix.
• Set up dashboards to track performance over time.
• Know when the time is right to discount goods.
• Spot assortment opportunities and improve categories.

With the benefit of an accurate, real-time competitive benchmarking tool, your fashion company can better track existing and emerging trends, quickly assess your product mix and adjust collection assortment to remain relevant and competitive.

Across multiple countries, you can use real-time data to compare your international positioning to that of local competitors. This visibility and the responsiveness it enables allow you to improve your brand positioning across product categories and borders.

Benchmark your brand's positioning

Understanding rival companies’ pricing and assortment are key to determining which competitors have the strongest brand presence. Automated fashion benchmarking lets you see precisely what your competitors have on offer and at what price point.

By gaining insight into their brand positioning, you can also develop a better grasp of their brand strategy. This is especially helpful in improving your own brand strategy. A clearer view of your brand’s place in the competitor landscape allows you to better adjust and differentiate your product offering.

See how to best position your brand for growth

Your brand’s unique value proposition sets you apart from your competitors. It attracts your ideal customer demographic by aligning your designs and collections with your target market's desires.

When consumers can readily recognize the value of your differentiated product offering over that of rival brands, it becomes simpler to win them over. Your marketing efforts can be focused on attracting the shoppers most likely to make a purchase.

By analyzing your customers' purchasing data, you can better understand their needs and adjust your offerings accordingly. This will create growth opportunities, increase revenue, and improve overall profitability.