Boden partners with Peak for AI to help merchandisers make real-time margin and value decisions
By Peak on November 27, 2024Peak is delighted to announce an exciting new partnership with leading retailer Boden.
As retailers continue to look for new revenue streams amid a challenging economic backdrop, Peak, the AI platform that optimizes product inventory and pricing, has partnered with Boden to optimize 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 analyze 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.
Boden has undergone significant modernization over the last five years. Having modernized 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.
Alexander Ives
Senior Director of Technology of Boden
Over a six-week period, Peak’s AI platform scrutinized 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, optimizing broader merchandising decisions as the landscape continues to shift for retailers.
With economic hardship, global supply chain issues and changing customer habits, retailers are having to tackle multiple challenges. 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.
Richard Potter
CEO and co-founder at Peak
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