Retailers Adapt to Massive Changes in Consumer Shopping with Oracle

Rhea-AI Summary

Oracle's Retail Merchandising Cloud Service is gaining significant traction among retailers to adapt to changing consumer shopping behaviors due to the pandemic. Key customers include Gap, Inc., Giant Eagle, Mr Price Group, and Poundland. The service, leveraging Oracle Cloud Infrastructure, helps retailers manage essential merchandising activities efficiently. Oracle has been recognized as a leader in the IDC MarketScape for its innovative solutions and embedded AI capabilities that enhance merchandising operations. Retailers are reporting faster realization of benefits from these solutions during challenging times.

Positive

• New customer acquisitions include Gap, Inc., Giant Eagle, Mr Price Group, and Poundland.
• Oracle named a leader in the IDC MarketScape for retail merchandise solutions.
• Retail Merchandising Cloud Service supports essential activities for retailers, improving efficiency.
• Reported faster benefits realization from merchandising solutions amid challenging retail conditions.

Negative

• None.

AUSTIN, Texas, Feb. 4, 2021 /PRNewswire/ -- The pandemic has changed the way people shop, making it critical for retailers to better understand demand and move merchandise accordingly. To meet these challenges, retailers across sectors are putting their trust in Oracle Retail Merchandising Cloud Service. Recent new customer wins and implementations include Gap, Inc, Giant Eagle, Mr Price, Poundland, and more.

"The new developments in the Oracle Retail Merchandising SaaS solution inspired us to reconsider the cloud for our transformational journey," said Kim Sim, chief information officer, Mr Price Group. "Merchandising provides a sustainable, stable foundation for our high-volume processes. And in the future, the cloud provides us the flexibility to add additional modules as the business needs arise."

Running on Oracle Cloud Infrastructure, Oracle Merchandising Cloud Service provides retailers a unified foundation to manage and control critical merchandising activities, such as purchasing and distributing goods, fulfilling orders, and processing and closing out invoices to help ensure accurate financial data.

Oracle was also recently named a leader in the IDC MarketScape: Worldwide Retail Merchandise Operations Management Solutions 2020-2021 Vendor Assessment¹.The report highlighted Oracle's strength in supporting retail merchandising scale and complexity, as well as expansion of embedded artificial intelligence (AI) and machine learning capabilities that are driving toward automated merchandising. Get an excerpt of the report here.

"Modern merchandise operations management solutions are purpose built for the analytical and experiential requirements of today and have the flexibility to expand on and enhance those capabilities in the future," says Jon Duke, vice president of research for IDC Retail Insights. "And there is clear differentiation among vendors' ability to meet the challenging demands of retailers."

Recent grocery, fashion, hardline (offering a mix of non-fashion goods), and specialty retailers adopting Oracle Retail Merchandising Cloud Service include:

• Gap, Inc., the global fashion retailer is now running on a single, high-performance instance of Oracle Retail Merchandising Cloud Service in North America for its GAP, Old Navy, Athleta, Banana Republic, Intermix, and Hill City brands.
• Giant Eagle, the North American grocer selected Oracle Retail Merchandising Cloud Service, Oracle Retail Store Inventory Operations Cloud Services, and Oracle Retail Advanced Science Engine to help manage approximately 100,000 products across every store and optimize millions of customer transactions each week.
• Mr Price Group, a leading omnichannel, fashion-value retailer in South Africa is implementing Oracle Retail Merchandising Cloud Service to support its transformation journey and growth.
• Poundland, a leading value retailer in the United Kingdom is implementing Oracle Retail Merchandising Cloud Service to create a single, consolidated foundation to manage merchandise across its three brands: Pep&Co, Poundland, and Dealz.

"The past year has been one of the most challenging in retail history. Retailers had to throw out the playbook and adapt to everything from complete in-person shutdowns to unexpected surges in certain products," said Lara Livgard, senior director merchandising, analytics, and enterprise, Oracle Retail. "Seeing our customers realize the benefits of our merchandising solutions faster than ever in this environment is validation of the innovations we are delivering in the cloud."

1. IDC MarketScape: Worldwide Retail Merchandise Operations Management Solutions 2020–2021 Vendor Assessment (doc #US47029020), December 2020.
    
   Get your complimentary excerpt copy of the IDC MarketScape report here for a limited time.

About Oracle Retail
Oracle is the platform for modern retail. Oracle provides retailers with a complete, open, and integrated platform for leading retail solutions, cloud services, and hardware that are engineered to work together. Innovative retailers use Oracle solutions to pivot to customer and to drive agility across the business. Oracle Retail customers can deliver an authentic customer experience while protecting their people, processes, brand, and customers. For more information, visit our website www.oracle.com/retail.

About Oracle
Oracle offers suites of integrated applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at oracle.com.

About IDC MarketScape: IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

Trademarks
Oracle and Java are registered trademarks of Oracle Corporation.

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SOURCE Oracle

FAQ

What is Oracle Retail Merchandising Cloud Service?

Oracle Retail Merchandising Cloud Service is a platform designed to help retailers manage critical merchandising activities efficiently.

Who are the new customers of Oracle Retail Merchandising Cloud Service?

Recent customers include Gap, Inc., Giant Eagle, Mr Price Group, and Poundland.

What recognition did Oracle receive regarding its retail solutions?

Oracle was recognized as a leader in the IDC MarketScape for Worldwide Retail Merchandise Operations Management Solutions.

How does Oracle's solution help retailers?

The solution aids retailers in purchasing, distributing goods, fulfilling orders, and managing invoices, leading to improved financial data accuracy.

What benefits are retailers seeing from Oracle's cloud solutions?

Retailers are experiencing faster realization of benefits from Oracle's merchandising solutions during challenging market conditions.

What infrastructure does Oracle Retail Merchandising Cloud Service run on?

The service operates on Oracle Cloud Infrastructure.