Luxury department store retailer co-develops merchandise buying app
Neiman Marcus is digitizing its inventory sourcing process through a mobile solution it co-created.
The luxury department store retailer teamed up with the digital wholesale marketplace, Joor, to co-develop a mobile, iPad-specific app designed to support retail buyers transacting on the wholesale platform. The solution digitizes all buying processes, which helps retailers reduce labor and errors.
The buying process is typically very manual, paper-driven, time-consuming, and sometimes error-prone due to reliance on disparate systems. In addition to providing disjointed views of brands’ collections, disparate systems also limit buyers’ abilities to plan assortments efficiently across many brands, and lack visibility into what others across their retail organization are purchasing.
The new mobile platform centralizes data, creating a digital hub. Now buyers can view all of their brands’ complete collections; create merchandised looks, plan assortments, and purchase merchandise. A budget tracker tool provides a unified view of all planned purchases, and delivers real-time insights on where a buyer stands versus their budget. Members across the buying team can also communicate in-app, a move that helps create more synergistic purchases across departments and locations.
Since using the app, Neiman Marcus’ retail buyers reported a 40% increase in productivity, and 30% reduction in appointment times, according to the company.
“Collaborating with Joor to modernize the team’s approach to market aligns with Neiman Marcus’ long-standing tradition of innovation and retail leadership,” stated Nathan Johnson, senior VP, merchandise planning, Neiman Marcus Group.
“We see Joor as an important tool to reduce friction in the purchase order process, freeing up merchant time to focus on driving assortment differentiation,” he added. “When this increased efficiency is coupled with improved real-time visibility into buying decisions, we believe there is tremendous potential to not only improve sales and margins, but more importantly, to improve the customer experience.”
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