Level 1 Sponsor
Nextail helps commerce to better align supply and demand through a cloud-based platform that automates and enhances decision making, thus helping consumers find and buy products. By combining the power of prescriptive analytics and Artificial Intelligence, Nextail helps omnichannel retailers with inventory optimisation and allocation, improving retail operations. Our product is democratizing the operational practices of fast-fashion by making them available to ANY retailer. It is what we call the agile retail revolution.
The results? Retailers using the platform typically see the impact being delivered after a few weeks, specifically with stock outs reduced by more than 60%, stock coverage reduced by up to 40% and sales increased by up to 5%. The final result is an increase in the return on inventory investment with the retailer selling more at full price and minimizing end of season leftovers.
Our product currently has four modules:
• Buy - Nextail applies predictive analytics to help a retailer buy the right amount of a new product. Nextail recommendations are coupled with the intuition of buyers thay can introduce their bets.
• First Product Allocation – Nextail optimize how many units to send initially to the stores, by identifying demand patterns on similar products found through computer vision techniques.
• Dynamic Replenishment – Nextail optimization algorithms calculates daily replenishment to the stores to maximize sales probability across the network.
• Store Transfer: Nextail predicts non-replenishable out-of stocks and rebalance stock among the stores of a region to boost sales at the end of the life-cycle of each product. We call it the Robin Hood approach, taking overstock from non-efficient stores and giving it to those stores in need.
Additionally, our Smart Business Intelligence transforms the way retailers deal with data and KPIs and our Store Mobile App acts as a bidirectional communication channel to seamlessly gather feedback from the field and empower Store Managers.
Finally, as a company that preaches about agility, our integrations couldn’t be anything but superfast. Our record is set at 1 week and our average integration takes around 3 weeks.
Nextail operates in Spain, Italy, Russia, Brazil and the UK. The clients are leading fashion and cosmetics retailers including Kiko Milano, Twinset, Stefanel and Melon Fashion Group.
Founded by Joaquin Villalba and Carlos Miragall, after two years it made it onto the CB Insights list of startups transforming retail. At South Summit 2017, the leading startup conference in Europe, Nextail won two awards; Best Lifestyle & Fashion Startup in the 100 most disruptive startups list, and Best Startup Team.