Become more profitable with the help of competitors and partners in the industry

Become more profitable with the help of competitors and partners in the industry

Data sharing has become the new recipe for success for many retail industries. The fashion industry, on the other hand, could have paid even better attention. Here, Front Systems can help its customers gain a better understanding of the industry, using the unique analysis tool Purply.

The fashion world has a ton of data, but very little is taken care of and used to develop the business. Front Systems works actively to help its customers become more data-driven, so that they can streamline their business, sell more and become more profitable. As part of this work, we have entered into an agreement with the analysis company Purply. For the stores, it's a good deal; it's free to join, and the model is built up so that the stores get a share of Purply's revenue. At the same time, Front Systems and Purply take care of everything. In other words, it will not entail additional work for the business.

"The stores can of course see their own figures, but the unique thing is that you can compare yourself with the entire industry via an index. Then you can partly keep track of which brands or product groups you are good at, while gaining insight into trends and tendencies throughout the industry," says Gaute Green-Stensrud in Purply.

Purply takes care of the stores' data and harmonizes and sends back in a simple and clear form. At the same time, the stores are compared with each other in an anonymous way in an index. One of the companies that uses Purply is Bogart. They see a big upside in that they can compare themselves to the rest of the industry every week.

"We hope that Purply will give us advantages in the future. Sharing data does not feel strange, it is anonymized so we risk nothing," says Silje Terjesen at Bogart.


Suppliers are also involved
Suppliers, agents and distributors also get involved. In their case, it is enough to participate, and they get access to their own and colleagues' data via the same index as the stores. Some brands that have already joined are Tommy Hilfiger and Gant.
Bogart leads several of the big brands already working with Purply, and sees clear benefits ahead:
"This is the future, we need to get better at taking care of data in order to buy better and sell more," says Silje Terjesen.
The entire Nordic region
Purply is not only available in Norway, but also throughout the Nordic region. This means that an ordinary store here at home can measure up to and gain insight into the Nordic market, or for example specifically in Sweden, Finland and Denmark. And for Bogart, it is exciting to look for upcoming brands in the index.
"I think it's interesting to compare yourself and share relevant insights from the rest of the industry. This means that we can find new gold nuggets," says Silje Terjesen.
Comparing yourself to others brings many benefits. You can of course compete against others and you can gain deeper insight into where you have potential and where you may need to do campaigns, but there is also great value in being able to see that you are actually doing the right things.

"We get access to data that we otherwise wouldn't have access to. It makes us improve every day, regardless of whether we do right or wrong today. We are a company that constantly strives to do better, says Silje Terjesen in Bogart.

Big ambitions with Purply
In enlargement with upcoming EU requirements in the area of sustainability, data sharing is required. Purply and Front Systems are already making it possible to use data in a new way.
"We have big ambitions with Purply. Our hope is to connect not only the fashion industry, but also the sports, beauty and do-it-yourself industry in the near future. But then we have to get the stores on board. Sharing data is part of the recipe for success of the future," concludes Gaute Green-Stensrud at Purply.

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