Photo: NuOrder
TECHNOLOGY
Saks Fifth Avenue to Use NuOrder Tech
Luxury department store Saks Fifth Avenue recently announced that it will employ technology produced by NuOrder, a Los Angeles-headquartered business-to-business e-commerce platform.
The NuOrder program will help Saks’ buying team make decisions enabled by a data driven approach in forecasting and performance analytics, said Tracy Margolies, Saks Fifth Avenue’s chief merchant. She noted that the prominent luxury department store has been looking for new ways to hone its buying strategy.
“While these efforts have been underway for some time, the current environment has given us the opportunity to accelerate our plans,” Margolies said. “Our adoption of NuOrder’s data-driven platform is an important step in our strategy, enabling us to better collaborate with our vendor partners, drive inventory efficiency and ensure merchandise effectiveness across all touchpoints."
NuOrder’s technology will help Saks’s buying team to more efficiently earmark and develop merchandising opportunities that are in sync with seasonal trends and customer expectations, according to a NuOrder statement. A strength of the tech company’s program is its presentation abilities, which can show the buy from a full season’s market with a user friendly presentation, according to a NuOrder statement.
Olivia Skuza, NuOrder’s cofounder and co-chief executive officer, said that her company would help Saks Fifth Avenue innovate.
“By adopting technology to visualize the product assortment right down to the store level, it will help push Saks and their vendor partners forward," Skuza said.
NuOrder started business in 2011. It also has worked with retailers such as Nordstrom and Bloomingdale’s along with brands such as Vince, Theory and Lacoste. Its programs offers features such as a product gallery informed by details such as delivery dates for inventory. It also can recommend specific product to a buyer.
The past month has been a busy time for NuOrder. In May, the tech company announced that it would produce digital trade shows with Informa Markets Fashion, the producer of the sprawling MAGIC trade shows.
