As part of its on going modernisation plans, British lifestyle brand Boden has introduced an AI platform to optimises product inventory and pricing.
Over a six-week period, Peak’s AI platform scrutinised Boden’s historic pricing and customer spending habits to pinpoint where the retailer could adjust to increase sales. Implemented alongside the retailer’s planned sale moments – the brand uses markdown to clear seasonal lines through which it typically clears 10% of its stock – pricing recommendations resulted in margin gains and directly impacted profitability.
The intention is for Boden to adopt Peak’s AI platform more broadly as a key part of its integrated tech stack, optimising broader merchandising decisions as the landscape continues to shift for retailers.
“Boden has undergone significant modernisation over the last five years,” said Alexander Ives, senior director of technology of Boden.
“Having modernised our core platforms we are now looking for opportunities where we can invest in providers that are quick to implement, low-risk, and deliver high impact. Peak has proven to do exactly that, with its AI-powered insights helping us during critical sales moments. It’s an excellent tool in our arsenal and one we’re already starting to use for future sales moments.”
A company profile in the RetailX UK Top500 looks at how Boden’s emphasis is on quality and on sustainability. The brand is ranked Top50 in the UK Top500.
Last year Boden’s strategy, sustainability and operations director, Ben Dreyer, told DeliveryX how the British clothing retailer is putting its sustainability achievements “front and centre”.
Read the full Boden company spotlight, which is one of eight retailer case studies, in the RetailX UK Top500. Download the full report for a look at Amazon, Ikea, Next, Asda, Dunelm, Richer Sounds & Very. The research measures performance according to how retailers, brands and marketplaces add value to their businesses through the Customer, Product, Operations and Capital Value Chains.
Stay informed
Our editor carefully curates two newsletters a week filled with up-to-date news, analysis and research, click here to subscribe to the FREE newsletter sent straight to your inbox and why not follow us on LinkedIn to receive the latest updates on our research and analysis.
