Harrods, the world's most prestigious department store, is implementing a series of Merchandise Planning applications from Predictix. The software is being rolled out for Harrods' Knightsbridge store as well as its airport locations and online site.
Harrods is the world's most prestigious department store, with more than 360 departments spread over seven floors of its iconic Knightsbridge building. The store's vast selection of merchandise ranges from international haute couture to cutting-edge technology, as well as an unrivalled choice of exquisite food and drink in the world-famous Food Halls.
Harrods recognised a need to upgrade its current planning system to allow for more in-depth and more efficient forecasting processes. Rupert Symes, Merchandise Director, said, “The Predictix application was very flexible in presenting information to the users, and it provided detailed forecasts by season and merchandise class, with far more measures than before.”
Harrods can set financial performance goals prior to each fashion season, adjust budget parameters, and then buy according to the plan. The Predictix software then gives Harrods the agility to review critical performance data each week, determine what adjustments are needed in order to meet financial targets, and instantly adjust the merchandise forecast.
“Harrods is an iconic luxury brand that combines one of the most prestigious retail properties in the world with best-in-class financial performance,” said Molham Aref, CEO Predictix. “It is an honour to be working with Harrods, and we look forward to bringing a new level of effectiveness and efficiency to their merchandising processes.”