January 25th, 2024

Everlane Uses Centric Market Intelligence to Validate Pricing and Launch New Categories

An apparel company with a sustainability focus selects Centric Market Intelligence for competitive pricing analysis and access to historical price data

CAMPBELL, Calif., January 25, 2024 – Centric Software® is delighted to announce the release of a success story about its customer, Everlane.

Founded in 2011 and headquartered in San Francisco, Everlane makes apparel with a focus on sustainability and a philosophy of ‘radical transparency’—letting the consumer know how much it costs to make an item and what the markup is, along with environmental information like CO2 emissions and where the garment is made.

In looking to introduce new products, Everlane was gathering information manually, doing web crawling and monitoring competitor websites and compiling information bit by bit. It wasn’t efficient and also took time away from staff who could be doing more value-added work.

The desire to work smarter not harder sparked the search for a platform that would allow them to determine optimal prices based on publicly available information from the competitive market. Instead of dropping entire collections at one time, Everlane takes an item-by-item approach. Kelly Wang, Director of Merchandising at Everlane says, “We really look at when is the exact right time for this specific item to launch in our assortment—when consumers want it.” Having information as to when certain pieces are being purchased throughout the year gives Everlane the confidence to pinpoint a date on which to release a product.

Besides getting comprehensive pricing and promotional information on the market for each category that Everlane is interested in, historical data gathering gives the power to go back and look for information that they need today. Another main benefit is time savings for team members, consensus on ease of use and price validation. Wang says, “We don’t use Centric Market Intelligence to direct our strategy, but to validate it.”

Read the full story to find out how Centric Market Intelligence keeps Everlane on top of the market to balance the offer and what Wang has to say about the vital role that the platform has come to play on their teams.

Read the full story.

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Everlane (www.everlane.com)

At Everlane, we want the right choice to be as easy as putting on a great T-shirt. That’s why we partner with the best, ethical factories around the world. Source only the finest materials. And share those stories with you—down to the true cost of every product we make. It’s a new way of doing things. We call it Radical Transparency.

We spend months finding the best factories around the world—the same ones that produce your favorite designer labels. We visit them often and build strong personal relationships with the owners. Each factory is given a compliance audit to evaluate factors like fair wages, reasonable hours, and environment. Our goal? A score of 90 or above for every factory.

At Everlane, we want you to wear our pieces for years, even decades, to come. That’s why we source the finest materials and factories for our timeless products— like our Grade-A cashmere sweaters, Italian shoes, and Peruvian Pima tees.

Our prices are radically transparent. We believe our customers have a right to know how much their clothes cost to make. We reveal the true costs behind all of our products—from materials to labor to transportation—then offer them to you, minus the traditional retail markup.

Centric Software® (www.centricsoftware.com)

From its headquarters in Silicon Valley, Centric Software provides an innovative and AI-enabled product concept-to-replenishment platform for retailers, brands and manufacturers of all sizes. As experts in consumer goods like fashion, outdoor, luxury, home, multi-category retail, grocery, food & beverage, cosmetics & personal care and consumer electronics, Centric Software delivers best-of-breed solutions to plan, design, develop, source, buy, make, price, allocate, sell and replenish products.

· Centric PLM™, the leading PLM solution for consumer goods, optimizes product execution from ideation to development, sourcing and manufacture, realizing up to 50% improvement in productivity.

· Centric Planning™ is an innovative, cloud-native, AI solution delivering end-to-end planning capabilities to maximize retail and wholesale business performance resulting in a 110% increase in margin.

· Centric Pricing & Inventory™ leverages AI to drive margins and boost revenues by up to 18% via price and inventory optimization from pre-season to in-season to season completion.

· Centric Market Intelligence™ is an AI-driven platform giving insights into consumer trends, competitor offers and pricing to boost competitivity and get closer to the consumer, with a proven 12% increase in average initial price point.

· Centric Visual Boards™ pivot actionable data in a visual-first orientation to ensure robust, consumer-right assortments and product offers, increasing product portfolios by up to 90% using the same resources.

Centric Software’s market-driven solutions have the highest user adoption rate, customer satisfaction rate and fastest time to value in the industry. Centric Software has received multiple industry awards and recognition appears regularly in world-leading analyst reports and research.