At Omnilytics, we are constantly looking to improve our product and services to power retailers’ decision-making with actionable insights. To develop and innovate our technology, we rely on our customers’ feedback to understand the problems they are trying to solve and what features they want more of.
The reviews Omnilytics get on G2 - a software and services review site - is a great way to grasp how we are empowering brands and retailers!
Here’s what our customers are getting insights on and enjoying the most on Omnilytics.
Validated Trend Performance
When asked what they liked best about using Omnilytics, most of our customers brought up the ability to better understand demand. Trends are moving faster than ever in fashion, which is why having real-time market data is instrumental in identifying what actually sells.
There are also variations of fashion trends - from categories, silhouettes, colours and patterns. It’s not enough to know that crop tops are trending, you also need granular data to make informed decisions in curating your assortment with the best-selling colours and patterns.
“Omnilytics's edge is in competitor or product analysis. The details are granular with insights on fashion categories, patterns, colour, sizes, sales channel and more.” - Michael B
Omnilytics launched the Trade Insights module this year, which generates smart insights on market trends, trade performance, and pricing strategy across competitors with just a few clicks. The Trade Insights module helps brands and retailers easily make sense of the data and provides relevant points for them to consider in optimising their assortment.
By validating trends with sell-out performance, brands and retailers are empowered to confidently decide on the right assortment to produce and minimise the risks of producing short-lived fads while maximising profitability.
“I am able to make well-informed design decisions with the help of Omnilytics. It provides me with an idea on what fashion is trending in a market.” - Sin Yi S
Optimised Pricing Startegy
An effective pricing strategy is the key to standing out in a saturated retail landscape. With so many brands and products retailing in the market, you can maximise margins by competitively pricing your products. This is where Omnilytics comes in to give brands and retailers a competitive edge.
“Omnilytics helps me to better identify what consumers want as well as the ideal price points that we should sell them at.” - Si H
Our competitor benchmarking module provides an in-depth breakdown of the pricing architecture by market, down to the subcategory level. With deeper insights, retailers can better understand consumer perceived value at the click of a button and price optimally to trade better at full price.
Consistently keeping track of your closest competitors’ actions is also important to adjust your own strategies in a timely manner. The latest Trade Insights module helps our customers counter their competitors’ tactics with better prices from the instant insights generated for brands to take away and action upon.
“I use Omnilytics to perform price comparison to understand my brand’s positioning vs a competitor and activate more competitive pricing to my target customers”. - Jessie Y
Monitoring Markdown Strategies
Markdowns are a critical part of retail. Done right, markdowns can drive sales while still keeping your margins in check. Our customers understand this and use Omnilytics to map out their discounting strategies.
“I use the dashboard to understand the average discounts provided by our competitors and to monitor their fresh launches.” - Samantha A
When it comes to markdowns, acting in a timely manner is crucial to draw customers away from the competitors. In Q3 of 2021, Omnilytics launched email notifications for weekly new-in and weekly discount changes to keep our customers up to date on their competitors’ promotional activities. This way, we can assist retailers in strategising their markdowns to discount optimally and at the right time.
Remote Comp Shopping
“I enjoy the ability to analyse the market, perform competitor benchmarking and analysis without having to go to the real store.” - Ivan K
Physical comp shopping is an age-old retail practice that is both costly and time-consuming. This is a major pain point that our customers have credited Omnilytics with addressing. With greater market visibility, retailers can comp shop from the comforts of their desks and have time to focus on other important tasks.
“Data provided on the dashboard allows me to have a better understanding of the current competitive landscape.” - Karina V
To successfully penetrate a new market, brands and retailers have to understand the competitive landscape and use a localised approach based on the consumer demand. Going the traditional route with physical comp shopping is not only tedious, it’s also become nearly impossible with the travel restrictions during Covid-19.
“Prior to the pandemic, we had to go to the stores for competitor checking. The dashboard allows us to do all of these in the comfort of our own homes which makes our work efficient. We can make an analysis using the dashboard.” - Danielle S
Our dashboard allows you to view several markets simultaneously to understand demand and spot opportunities across different channels.
“The dashboard gives an omni-view of the retail landscape. The consolidated macro to micro view of your peers and competitors enables efficient competitor benchmarking.” - Tze Fung Z
In-Depth Marketplace Analysis
Marketplaces are a great way for brands to expand their reach online. However, the highly competitive and oversaturated e-commerce landscape can make it difficult for brands to stand out.
Brands that are looking to expand their distribution by listing on marketplaces use Omnilytics to perform an in-depth analysis. Information on the assortment mix and pricing strategies help brands spot gaps and choose the right marketplace to go into.
“We get more understanding and insight into the marketplace our company is doing business with.” - Esty H
Once a brand lists on a marketplace, it must consistently adapt to stay ahead of the competition. Our customers credit the dashboard and the trade reports we provide on a regular basis with helping them stay on top of changes in their competitors’ strategies.
“Omnilytics is helping us solve business questions or problems such as why our competitor brands are ahead of our managed accounts in marketplace rankings.” - Sara A
Diverse Customer Support
Our goal is to support our customers through every step of the retail journey and they’ve voiced their appreciation.
“Aside from being a game-changing tool, the support and education was plenty. Our client manager took initiative and was detailed in her explanation, with purposeful questions to help clients drill down to what those numbers mean (and where to find them)” - Michael B
We have a dedicated team at the ready to support clients in navigating the dashboard and getting valuable retail insights that they need. A live chat feature is available on the dashboard, along with use cases, blog posts, industry reports and more to keep our customers up to date on key fashion events and get the most out of our product.
“The academy, fashion journey and industry reports are great resources for me to deep-dive into the fashion industry.” - Si H
With the launch of phase two of the Trade Insights module, our customers can also download data, save reports and access key insights on dashboard filters for easy reference. Customers can also choose to get weekly emails for saved reports, which helps them trade more efficiently.
“Weekly emails and tips from the active Client Success Team support are helpful to me. The ability to save filters and retrieve them easily also makes navigating the dashboard much easier.”
Omnilytics also maintained dashboard uptime and accessibility at 98% to ensure a seamless experience for our customers.
We Want to Hear More From You
Omnilytics has come a long way but we believe there is always room for improvement. For this reason, we welcome your thoughts on how we can help you solve problems and sell smarter with retail insights.
You can read our customer reviews on our G2 page here and feel free to leave your own feedback too while you’re there!
About the Author
Aqilah Zailan
Before her current fashion content writer role at Omnilytics, Aqilah Zailan was already decoding trends in the retail space. She now produces articles for Omnilytics’ blog and continues to keep a keen eye on shifting trends in the fashion industry.
