E-commerce market Verishop purchased knowledge analytics agency Trendalytics in a money and fairness deal that closed in March, the corporate confirmed to Enterprise of Vogue. Monetary phrases of the deal weren’t disclosed.
Trendalytics, which offers search and development forecasting knowledge to corporations like Ulta and Macy’s, will give the small manufacturers that promote on Verishop insights to assist them curate their product picks to raised cater to well timed model tendencies. Verishop expects this to spice up gross sales throughout all its manufacturers as extra customers store primarily based on breakneck web tendencies.
Trendalytics will stay a standalone enterprise underneath the Verishop umbrella. The info platform was beforehand owned by model incubator HatchBeauty Manufacturers, which acquired it in 2021. Final yr Trendalytics started discussions with Verishop, for which it shares an investor Lion Capital, after initially courting {the marketplace} as a possible consumer.
The acquisition is Verishop’s newest transfer to increase past its unique market mannequin. The corporate, now known as Verishop Group, additionally helps unbiased labels safe model partnerships. The addition of Trendalytics will beef up Verishop’s advertising and merchandising knowledge analytics companies, as extra manufacturers search higher knowledge to grasp and reply to shifting client behaviour.
“We see this as the flexibility for [brands] to make higher choices round advertising, planning [and] product growth,” stated Cate Khan, co-founder and chief govt of Verishop Group. “Their success on our platform, and even off our platform, means increased engagement with Verishop Group and extra gross sales. It’s feeding that flywheel in order that all of us will be profitable collectively.”
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Case Examine | Flip Information Into Significant Buyer Connections
Earlier than vogue companies can put synthetic intelligence to work or goal the precise consumers on-line, they want good knowledge and a deep understanding of who their clients are and what they need. This case research provides a information for manufacturers that wish to really know their buyer, permitting them to make smarter choices that serve consumers and drive outcomes.
