Tech Tuesdays: Edited Adds New Interface + More News
Edited is making retail insights more personal. The global retail intelligence platform has launched MyEdited, which the company says is “drawing on the expertise of merchandisers, buyers and retail strategists from the world’s biggest brands.” The platform’s new feature has a Q&A interface and is designed to “quickly and efficiently supply retail professionals with key insights into their business performance powered by both internal and market data,” the company said in a statement.
The company is calling it a game-changer.
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Doug Kofoid, CEO of Edited, said the company believes this new interface “will be a game-changer for retailers. Merchandisers, buyers and planners will no longer have to dig through multiple data sources to surface valuable insights. MyEdited will not only supply them with the right questions they should be asking, but also combine both their internal data and competitor market data in one simple dashboard.”
The upgrade was created by a team at Edited led by its chief product officer, Brian Tomz, along with members of the firm’s advisory board, including executives from Puma, PVH and Coach New York.
The company said MyEdited interface “answers some of the most common questions asked by [its] customer base, including, ‘Which products are price increase candidates?’ and, ‘What are the assortment gaps?’”
In the fintech space, Splitit, the buy now, pay later solution provider, said it is expanding its partnership with AliExpress to expand into the U.S. with its “pay after delivery” service.
The “pay after delivery” service by Splitit allows shoppers to start paying for their products after delivery is complete via a custom-branded experience embedded into the AliExpress checkout. Splitit’s technology will allow AliExpress shoppers to pay for their purchases with their existing credit cards.
This follows a successful rollout in countries such as Germany, Spain, France, Italy, the Netherlands, the U.K. and Australia. In Spain and Germany, Splitit has implemented its payment solution of paying by installments using existing credit for customers to pay over three or six months for AliExpress.
Mirakl’s latest industry report reveals insights into online marketplaces. The company noted that, in 2022, “platform business models like drop shipping and digital marketplaces grew at six times the overall e-commerce rate. Both marketplace operators and third-party sellers alike are flocking to these platforms in order to take advantage of growing customer demand and profitable adjacent opportunities.”
Researchers at Mirakl said the growth is driven by “the millions of individual businesses selling on those platforms. Brands and retailers recognize the opportunities offered by platform business models, as they can join forces with other retailers and reach new audiences in a matter of weeks — in some cases, businesses can begin selling on marketplaces in just four days.”
The drop-ship model is ideal for small businesses in particular as they don’t have to worry about inventory. Other findings from the report include that the number of businesses that began selling on marketplaces in 2022 “increased by 31 percent over the previous year, demonstrating a surge of interest in the platform economy.”
The report also showed that 53 percent of marketplace sellers surveyed “are selling on more marketplaces than they were a year ago, and 62 percent expect to expand across additional marketplaces in the next 12 months.”
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