What is EDITD? Besides the fact that it is a company that I just invested in, EDITD is a pioneer in taking real time data and using technological analysis for the apparel market to predict trends.
My first career out of college was at Macys where I went through the training program to end up on the other end in a series of jobs that eventually got you be a buyer. Being a buyer is not only analytical it is also trying to figure out what the next trends will be. You certainly get help from your vendors as they are showing you the lines that they believe will be what the customer is going to want but they aren't always right.
When I was at Macys we manufactured a lot of private label overseas. That merchandise was planned out in advance and sometimes when it hit the stores it didn't move off the shelves. Othertimes, the merchandise flew of the shelves and we had to figure out how to get back into it as quickly as possible.
With the beauty of ecommerce as well as companies like Moda Operandi where customers are literally buying things when models of major fashion houses walk down the runway for a fashion show, there is data to be captured. If the data is telling you that blue is the next color of the season and there is an overwhelming response to tailored jackets then wouldn't you want that information? If I was in retail or wholesale, I certainly would.
If you had access to information that would allow you to optimize sales, develop better products and think more intelligently about your marketing strategy with actual data…wouldn't you buy it?
The couple behind EDITD are fantastic. I highly recommend reading the blog. Julia is an amazing fashion forecaster and Geoff is a brilliant programmer. I loved what they are doing immediately. I admit, I still have a big place in my heart for the world of retail and wholesale. Maybe one day I will return. We will see. For now, I am going to work with EDITD. Oh and there are a few others that might be coming my way.