Washington, D.C. (PRWEB) June 25, 2015
Applied Predictive Technologies (APT) announced today that VF Outlet, a leading retailer of clothing for Women, Men, Kids, and Baby with 80 outlet locations across the country, has licensed APT’s software platforms including Category Management Insights and Market Basket Analyzer. With the new partnership, VF Outlet joins nearly half of the National Retail Federation (NRF) top 100 U.S. retailers that currently license APT software. VF Outlet will leverage APT to enable data-driven decisions across a variety of functional areas including promotional strategy and pricing.
VF Outlet will use APT’s Category Management Insights to refine promotional planning across departments. VF Outlet VP-GM Rick Ott explained, “We’ve already utilized Category Management Insights to better understand the impact of several key initiatives like our 'Super Wow Promotions,' tent sales, ongoing promotions, pricing, and new product introductions. For example, with CMI we were able to isolate the sales lift we got from our Men’s Performance Tees pricing change despite concurrent new brand introductions within that category. We were able to determine that the adjusted pricing was attracting new customers who were generating larger transactions, improving the economics of the initiative versus what was previously apparent. Further, we could understand which items were being purchased together in those baskets, which may allow us to tailor future promotions”
He went on to explain, “The software’s ease of use and flexibility provides our merchants with rapid insights that used to take days or even weeks to reach. CMI’s insights equip merchants with transparency into category performance and facilitate a centralized means of communicating and understanding results across our organization.”
Ott also discussed how VF Outlet is using Market Basket Analyzer to streamline and improve promotional design. He stated, “Traditionally much of our promotional planning has been founded in what we did at the same time last year or guided by ‘gut feel.’ By using MBA to understand a new offer structure for our annual Holiday Promotion, we learned that the offer we were planning to run was going to give away more in margin than we could make up through increased traffic. Avoiding that particular sale saved us significant margin dollars.”
APT Vice President, Sarah Hinkfuss Zampardo, commented that “Many of the nation’s leading apparel retailers are using APT’s software to not only measure the incremental profit impact of their key initiatives, but also to understand the dynamics of customer behavior at a basket level to improve areas like promotional design and pricing strategy. We’re thrilled that APT’s software is providing data-driven insights to VF Outlet as they continuously refine their marketing, promotional, pricing, and merchandising strategies.”
About VF Outlet
Founded in 1972 in Reading PA as the original outlet store, VF Outlet today is a dynamic value retailer with over 80 locations in the U.S. Our mission is to deliver great value to our customers every single day. Our stores offer a broad assortment of great national brands such as: Lee, Wrangler, Jansport, Vanity Fair and many more. We offer our customers the convenience of a one-stop solution by featuring quality apparel for the entire family. VF Outlet is a wholly owned subsidiary of Greensboro NC-based VF Corp.
APT is a leading cloud-based analytics software company that enables organizations to rapidly and precisely measure cause-and-effect relationships between business initiatives and outcomes to generate economic value. Our intuitive and proprietary Test & Learn® software utilizes sophisticated algorithms to analyze large amounts of data, enabling business leaders to conduct experiments and allowing them to make optimal decisions and implement business initiatives at scale. We also offer products that support decision-making for specific business needs including transaction analysis, space planning, category management and location selection. APT’s client portfolio features some of the world’s best known brands, including Walmart, Starbucks, Coca-Cola, Victoria’s Secret, American Family, Hilton Hotels, SUBWAY, TD Bank, T-Mobile, and others. APT has offices in Washington, D.C., San Francisco, London, Bentonville, Taipei, Tokyo, Sydney, and Chicago. Visit http://www.predictivetechnologies.com to learn more.