Message from CEO Ilya Shurov: Aetheriq’s Innovative Platform is Transforming How Retailers Purchase and Manage Inventory
Spain, 15th Nov 2024 – As CEO of Aetheriq, I’m excited to share the significant strides our company is making in revolutionizing inventory management for clothing and footwear retailers. At Aetheriq, we are on a mission to solve a problem that has plagued the retail industry for decades: helping stores purchase the optimal range of goods to minimize overstock while avoiding costly stockouts.
A Critical Solution to a $500 Billion Problem
Right now, an estimated $500 billion worth of unsold goods sit idle in warehouses across the retail sector, freezing up capital and forcing stores to resort to heavy discounting. At Aetheriq, we believe that outdated forecasting methods are at the heart of this issue. Our platform is designed to help retailers make smarter purchasing decisions by accurately forecasting future sales, ensuring they order only what they can sell at regular prices.
With Aetheriq, our clients have seen tangible results: a 10% increase in full-price sales and an 80% reduction in lost sales due to stockouts. We’re proud to provide a solution that helps stores avoid both overstock and stockouts, ultimately driving better financial outcomes.
Innovative Forecasting That Adapts to Retail Realities
What sets Aetheriq apart is our ability to integrate seamlessly with major sales management platforms like Oracle NetSuite, SAP, Salesforce, and Shopify. We don’t just rely on historical sales data; our forecasts are enriched with insights from external factors like weather changes, holidays, and social media trends. This comprehensive approach enables us to deliver more precise predictions — down to specific product types, sizes, and colors.
We understand the complexities of retail purchasing, where every store has its own preferences and constraints. That’s why our platform is built to accommodate additional rules and considerations set by the buying team. The flexibility of Aetheriq allows our clients to receive tailored recommendations that align with their unique strategies.
Rapid Integration and Proven Results
Implementing Aetheriq takes only 3-4 weeks, and our team supports clients every step of the way to ensure a smooth integration. Once live, the platform continuously monitors sales dynamics and inventory levels, issuing timely purchasing recommendations. What’s more, our AI learns from every decision made by the buying team, improving its recommendations over time.
The results speak for themselves. Our clients have successfully reduced warehouse balances by 2% and generated over $10 million in additional revenue. Today, Aetheriq manages more than $500 million in inventory across 1,3 million store-product combinations— and this number continues to grow.
Looking Ahead
At Aetheriq, we see a future where platforms like ours become an industry standard. The most challenging aspect of forecasting in retail is accounting for variations in style, size, and color — a task that traditional methods simply cannot handle. We’ve solved this problem with AI, delivering efficiency improvements of up to 46% for our clients.
As the market continues to grow, I am confident that our technology and approach will set a new benchmark in the industry. Retailers need accurate, data-driven insights, and Aetheriq is here to provide exactly that.
About Aetheriq
Aetheriq is an advanced AI platform designed to help apparel and footwear retailers optimize their purchasing strategies. By integrating with leading sales management systems and using a wide array of data inputs, Aetheriq delivers actionable insights that minimize overstock, prevent stockouts, and enhance profitability. Since our launch three years ago, we have rapidly expanded our client base and continue to deliver substantial value to brands worldwide.
For media inquiries, please contact via contact form on our website: https://aetheriq.cc .
Media Contact
Organization: Aetheriq
Contact Person: Ilya Shurov
Website: https://aetheriq.cc
Email: Send Email
Country: Spain
Release Id: 15112420032