Through these services, the retailer can collect customer preferences and purchase habits. This data can then be analysed and translated into strategic actions to increase loyalty.
PRADA Group aims to combine its physical and digital offerings and use data to deliver a personalised consumer experience.
Prada Group marketing director Lorenzo Bertelli commented: “Understanding our customers and their journey is critical to our success. Technology can help with that and allow us to innovate faster, to drive value and ultimately growth.”
Oracle senior vice-president Mike Webster added: “A global player like the Prada Group takes the time to understand the data around its customers, including attributes, behaviour and preferences. The marriage of planning and analytics with the customer experience technology allows a retailer to predict, personalise and deliver on its brand promise.”
Recently, Prada also deployed Oracle’s retail cloud services for merchandise financial planning, assortment and item planning to optimise its merchandising process. This includes sales and forecasts, performance analysis, inventory management and allocation.
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With this data, the Prada Group aims to better understand its operations process and scenario plan more effectively to react more quickly as the retail market evolves.
In the next phase, Prada Group will deploy Oracle’s retail demand forecasting cloud service. This provides analytical insights to drive planning, buying, moving and selling decisions.
Earlier this month, Oracle’s AI-powered retail cloud platform was selected by WHSmith North America for its US and Canada stores.