Access to real-time competitive pricing and product intelligence behind Halloween retail success
OTTAWA – November 11, 2015 – 360pi, the leader in pricing and product intelligence, is pleased to announce BuySeasons, Inc. as the latest addition to their circle of innovative retail clients. BuySeasons, Inc. operates three of the world’s largest online retail costume and party supply brands, and is best recognized for its online costume business through BuyCostumes.com and CostumeExpress.com. Value pricing, assortment diversity, and customer service are among the key differentiators that make the costume brands of BuySeasons, Inc. widely recognized by costume shoppers.
Seasonality matters in the costume business, and Halloween is BuySeasons’ equivalent of the fourth quarter holiday shopping season. This year, the National Retail Federation estimated that 157 million US shoppers would celebrate Halloween, spending an average of $74 per person, or $6.9 billion in total, with over a third of that spend on costumes alone.¹
“In recognition of the strategic value of competitive product and pricing intelligence on key seasonal dates, we made the decision to partner with 360pi in advance of Halloween – our single largest shopping holiday,” said Eric Kirkhofer, COO, BuySeasons, Inc. “We joined forces with 360pi to help us access incremental market opportunity in costumes while maintaining our competitive shopping advantage over other retailers. As well, the competitive data from 360pi is now providing crucial planning insights into our 2016 pricing and assortment strategies.”
Armed with this insight from 360pi, BuySeasons’ merchandising team is now able to:
- Significantly increase inventory turns and increase profits;
- Identify where inventory is under- and over-priced and take effective corrective action to optimize margins in a situation which initially applied to 70% of its assortment;
- Make more effective assortment and promotional decisions with early insight into which products are currently trending up and down in their space through 360pi’s Best Sellers Reports²;
- Better understand its competitive position in the market with in-depth insight into the pricing and assortment of its true competitive set.
“In order to make the most profitable pricing moves for your assortment, time-sensitive data, especially for key shopping events like Halloween, needs to be collected and analyzed expeditiously,” said Alexander Rink, CEO, 360pi. “We are honored that BuySeasons, Inc. selected us to power both their seasonal and long-term pricing and product strategy, and look forward to further driving their revenue and margin growth.”
360pi derives profitable insights from product and pricing big data to help leading omnichannel retailers, etailers, and brand manufacturers compete and win with shoppers. 360pi’s customer base accounts for over $US200 billion in annual product sales and includes Ace Hardware, Build.com, and Overstock.com, along with several Fortune 500 consumer products companies. With the majority of in-store purchases being influenced online, 360pi helps retailers and brands successfully navigate the multi-channel landscape with real-time insight into who is selling what, where, when, and for how much. Ultimately, 360pi customers make smarter decisions faster to drive increased revenues and margins across all channels.
About BuySeasons, Inc.
Founded in 1999, BuySeasons, Inc. is a leading online retailer of costumes, accessories, party décor and supplies for year-round celebrations and entertaining. BuySeasons, Inc. owns and operates BuyCostumes.com, BirthdayExpress.com, and CostumeExpress.com. BuySeasons, Inc. is a subsidiary of Liberty Interactive. For more information on BuySeasons, Inc. and its brands, visit http://www.BuySeasons.com.
Ketner Group PR + Marketing (for 360pi)
(613) 562-2525 x 544
² An exclusive report produced by 360pi that indicates the products that made it onto category-specific best seller lists on Amazon.com (or Amazon.ca), matched to the customer’s assortment. This report reflects immediate opportunities and gaps in product strategy.