With retailers constantly seeking new revenue streams amid a challenging economic backdrop, Peak, the AI platform that optimises product inventory and pricing, has partnered with Boden to optimise the trading capability of its merchandisers.
Boden has undergone an ambitious modernisation process over the last ten years, with its team looking for ways to build and maintain a best-in-class tech ecosystem. Boden has now turned to Peak to analyse its pricing structure, specifically selecting Peak’s platform due to the speed of integration and its ability to go to market immediately through 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, its senior sirector of technology. “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.”
Richard Potter, Peak CEO, added: “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.”
