Peak’s actionable pricing recommendations deployed within a six-week timeframe

MANCHESTER, UNITED KINGDOM, November 27, 2024 /EINPresswire.com/ -- As retailers continue to look for new revenue streams amid a challenging economic backdrop, Peak, the AI platform that optimises product inventory and pricing, has partnered with retailer Boden to optimise the trading capability of merchandisers.

Boden has undergone an ambitious modernisation process over the last ten years, with its team continually looking for ways to build and maintain a best-in-class tech ecosystem. As such, Boden turned to Peak to analyse its pricing structure, specifically selecting Peak due to the speed of integration and its ability to go to market immediately given their proven integration with Snowflake.

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.”

“With economic hardship, global supply chain issues, and changing customer habits, retailers are having to tackle multiple challenges,” Richard Potter, Peak CEO, added. “AI has a huge role to play in facilitating fast decision making at scale to alleviate these challenges. It’s what we help retailers to do day in day out: boost margins whilst delivering great deals for customers.”

To learn more about Peak, visit the website here.

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About Peak

Peak’s AI platform optimises inventories and pricing for global industry leaders including Nike, Molson Coors, Marshalls and Eurocell. With a core belief that businesses need their own AI – built for their business, with their data – Peak’s pre-built AI products can be configured to fit unique requirements.

From a decade of successful AI deployments, Peak has a proven track record of delivering rapid performance gains for its customers helping to increase their revenues, profits and efficiency.

Founded in 2015, Peak has raised $119m funding to date with its most recent Series C funding round led by SoftBank’s Vision Fund II. Key partnerships with AWS, Snowflake, UiPath and SAP enable Peak to further accelerate AI adoption across industry.

For more information about Peak, visit https://peak.ai/

Leah Jones
CommsCo
ljones@thecommsco.com

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