At the outset, 2020 was shaping up to be a good year for retail, buoyed by low unemployment and a strong consumer base.
However, the COVID-19 coronavirus became a global pandemic, forcing thousands of businesses to close and endangering the existence of high debt, low profitability retailers.
As part of the development, Trendalytics CEO Cecile Lee, alongside COO Jennifer Chang, spoke with Benzinga regarding the use of alternative data in reducing investment portfolio risk amid prolonged retail sector turmoil.
Trendalytics is a subscription-based, product intelligence company that empowers decision making with data and analytics.
Think of the company’s insights as a crystal ball for retailers to know exactly which trends to buy more of and which ones are on their way out.
“We’re mainly focused on the fashion and apparel space,” Lee said. “You would use our platform as a buyer, a product developer, or merchandiser,