Vera Bradley, a leading American iconic lifestyle brand, has partnered with Impact Analytics, a provider of AI driven unified retail solutions, to provide a unified retail planning platform to optimize their decisions across merchandise financial planning, assortment planning, pricing, allocation, and replenishment.
Read More: Media And Entertainment Giant Significantly Expands Darktrace Coverage Across Its Business
Best known for its innovative designs, unique patterns and brilliant colors, Vera Bradley offers a wide range of styles and print options in bags, luggage, backpacks, and a myriad of other goods. Ensuring the brand stays at the forefront of its customer’s desires, Vera Bradley launches new collections throughout the year. Prior to choosing Impact Analytics, many of Vera Bradley’s planning, assortment and allocation processes were somewhat disconnected and required manual work. Vera Bradley sought a scalable platform that leverages artificial intelligence algorithms to drive data-driven and more automated decisions.
Impact Analytics will service Vera Bradley’s full-price stores, factory stores, ecommerce, and wholesale business. By implementing Impact Analytics solutions, Vera Bradley will have the opportunity to optimize omni-channel decisions through accurate, machine-learning generated forecasts and recommendations leading to improved revenue and profits.
“We are excited to partner with Impact Analytics in deploying their unified Merchandise Platform at Vera Bradley,” said Daren Hull, Vera Bradley Brand President. “Impact Analytics’ unified solution will help enhance decision making. By leveraging machine learning, our teams will be able to uncover opportunities that traditionally were a challenge to find, opportunities that can make a bottom-line impact.”
Vera Bradley’s VP of Planning, Dave Farrell, said, “Impact Analytics stood out as an innovative and highly-collaborative partner during our evaluation process. The Impact Analytics team brings a wealth of data science and retail knowledge to the table for a successful implementation. We believe their integrated solutions will provide improved efficiencies and enhance our technology capabilities at Vera Bradley.”
“We are delighted to have been chosen as a vendor of choice by the Vera Bradley team. Our A.I. based solutions for retailers are cutting edge and help drive immediate margin impact for our clients, and we are confident of delivering significant value for Vera Bradley,” said Prashant Agrawal, CEO of Impact Analytics.