The future of eCommerce? London AI retail firms join forces
Posted on April 28, 2021 by Jonathan Symcox
Retail market intelligence firm EDITED has completed its acquisition of DynamicAction, an internal retail analytics company.
Described as the first fully integrated retail automation system, the London-based firms combine global market data alongside data from the supply chain ecosystem for rapid insights.
They say the combined platform will give customers such as Inditex and Columbia a holistic perspective to navigate retailing in a more profitable and coordinated way.
“Retail has experienced 10 years of e-commerce growth in the span of a year. It is the key channel for success,” said Geoff Watts, CEO and co-founder of EDITED.
“Our acquisition of DynamicAction marks a significant milestone in our mission to transform the future of eCommerce. Together we can leverage AI across all parts of a business, unlocking never before seen retail automation.
“This brings us one step closer to the industry’s objective of high-speed retailing.”
John Squire, CEO and co-founder of DynamicAction, added: “Data-driven decision making has always been our goal for retailers, and we’ve taken a big step forward to insight-driven action.
“With the backing of great investors and customers, we have focused hard to find faster, smarter ways to empower merchants, marketers and brand operating teams.
“Now, as part of EDITED, we’re thrilled to join Geoff and his team to deliver a market leading platform of deeply connected data, insight and actions that leading retailers and brands will adopt to thrive and succeed.”
For over a decade, EDITED has helped over 200+ leading retailers and brands, tracking over 2.5+ billion SKUs – stock-keeping units – every day; while DynamicAction has 150+ enterprise and cloud system data connectors.
Operating under the EDITED brand name, DynamicAction employees and leadership will merge into the new parent company.