Online Marketplace Verishop Acquires Data Firm Trendalytics

E-commerce market Verishop purchased information analytics agency Trendalytics in a money and fairness deal that closed in March, the corporate confirmed to Enterprise of Trend. Monetary phrases of the deal weren’t disclosed.

Trendalytics, which supplies search and pattern forecasting information to firms like Ulta and Macy’s, will give the small manufacturers that promote on Verishop insights to assist them curate their product alternatives to higher cater to well timed fashion tendencies. Verishop expects this to spice up gross sales throughout all its manufacturers as extra shoppers store primarily based on breakneck web tendencies.

Trendalytics will stay a standalone enterprise underneath the Verishop umbrella. The info platform was beforehand owned by model incubator HatchBeauty Manufacturers, which acquired it in 2021. Final yr Trendalytics started discussions with Verishop, for which it shares an investor Lion Capital, after initially courting {the marketplace} as a possible shopper.

The acquisition is Verishop’s newest transfer to broaden past its authentic market mannequin. The corporate, now referred to as Verishop Group, additionally helps impartial labels safe model partnerships. The addition of Trendalytics will beef up Verishop’s advertising and marketing and merchandising information analytics companies, as extra manufacturers search better data to know and reply to shifting client behaviour.

“We see this as the power for [brands] to make higher choices round advertising and marketing, planning [and] product growth,” mentioned Cate Khan, co-founder and chief govt of Verishop Group. “Their success on our platform, and even off our platform, means larger engagement with Verishop Group and extra gross sales. It’s feeding that flywheel in order that all of us will be profitable collectively.”

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Case Study | How to Turn Data Into Meaningful Customer Connections

Earlier than trend companies can put synthetic intelligence to work or goal the correct customers on-line, they want good information and a deep understanding of who their clients are and what they need. This case research provides a information for manufacturers that need to actually know their buyer, permitting them to make smarter choices that serve customers and drive outcomes.