Global luxury retailer focuses on customer with cloud migration (BY DAN BERTHIAUME, sourced from Chain Store Age)
The Prada Group is adopting cloud solutions to better understand what customers want and to serve them better.
Prada is rolling out Oracle Retail Cloud Services merchandise financial planning, assortment, and item planning modules. In addition, the omnichannel vertical luxury retailer is deploying the Oracle Retail Customer Engagement Cloud Service and Oracle Retail Xstore Point of Service solutions.
Leveraging Oracle’s cloud-based merchandising applications, Prada will analyze historical data and current market demands across its global retail network of 634 stores, intending to enhance business decisions and provide a unique customer experience.
In addition, Prada seeks to optimize its entire merchandising process. This includes sales and forecasts, performance analysis, margin, open to buy, inventory management, supply chain, and inventory allocation. Prada expects this optimization to lead to a more informed analysis of its merchandising key performance indicators and a greater ability to set new targets and allocate more precise budgets.
Utilizing its new cloud-based customer engagement and POS solutions, Prada will obtain real-time visibility into all customer-related details across every touchpoint, enabling the retailer to offer customers a personalized shopping experience.
"By integrating Oracle’s advanced digital technologies with our operations, we will be able to unlock increasing value within our business and offer further opportunities to our global customer base,” said Lorenzo Bertelli, Prada Group head of marketing and communication. “Our collaboration with Oracle is part of our wider strategy focused on enhancing our group with a strong investment in technology to boost operational efficiency and effectiveness."
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