Karen Moon runs New York-based Trendalytics, a software platform that measures consumer engagement with merchandise trends for retailers. Moon has worked in the retail industry, including a stint at Gap Inc., as an investment banker at Goldman Sachs and with retail portfolio companies at the private equity firm Goode Partners.
Q. WHAT IS TRENDALYTICS AND WHY DO RETAILERS NEED YOUR HELP?
Trendalytics is a visual data platform that analyzes consumer engagement patterns with product styles such as “boyfriend jeans” or “combat boots” across social chatter, search behavior and shared images.
Why is this relevant to brands and retailers? Fashion companies need to make decisions on which products to focus their investments, where to allocate (those products) and when to time deliveries and markdowns. Currently, most companies rely primarily on prior-year performance to forecast the future, often in isolation because they have limited access to data on how consumers are engaging with products across the industry and how trends are evolving. However, historical performance does not take into account changing consumer preferences or missed opportunities, which many retailers say are the greatest challenges to driving consistent growth in their businesses. Trendalytics empowers its clients to stay ahead of consumers and the competition by providing actionable insights on consumer adoption of product trends, regional demand and online shopping behaviors.