Trend forecasting website WGSN will launch a new online analytics system to compare fashion retailers’ in-season stock.
WGSN INstock, which launches this month, will allow high street retailers to search and source market data across the UK and North America to better inform their buying and merchandising decisions.
WGSN INstock gives users the ecommerce product lines of retailers and allows them to filter this information by retailer and brand as well as price, date, colour and product category.
WGSN launched the WGSN INstock platform after research showed that 30% of buying and merchandising teams spend five or more days per month monitoring the market and sourcing comparative data which is often out of date by the time they get it.
WGSN said the platform would help retailers with in-season trading decisions as well as forward planning by giving them the ability to track new product, promotions and markdowns of other retailers’ product mix.
At launch, the system will have four weeks’ worth of data which amounts to 250,000 products on the site across 60 retailers from the UK and US, including Topshop, Coast and Matalan. The Comp Shop section is designed to look like a fashion retailer’s ecommerce site, which WGSN said would make it instinctively easy to use.
A Visual Data section also allows users to build bespoke colour mix, price architecture and product range graphics for core markets.
WGSN INstock will only be available to subscribers of WGSN and will not be sold as a standalone product.