Data and analytics have become essential tools for retailers and brands to stay competitive. In this Q&A, Jay Hakami, president and chief executive officer of Skypad, shares how the company empowers businesses to leverage data insights for smarter inventory management, demand forecasting and sales optimization.
WWD: As we head into the peak holiday shopping season, what do retailers and brands need to do to control inventory and maximize sales and profits?
Jay Hakami: The holiday shopping season is a make-or-break period for retailers and brands, with fluctuating demand and tighter margins.
Real-time visibility into sales trends, stock levels and customer demand is crucial. Skypad provides a centralized view of sales and inventory data across multiple channels, enabling smarter, data-driven decisions. For retailers, it’s about having the right products at the right time and in the right quantities — minimizing stock-outs while avoiding excess inventory.
For brands, this means aligning inventory with retailer demand, optimizing product mix and meeting retailer expectations in real-time.
Skypad’s automation capabilities allow both sides to act proactively, identifying slow-moving stock early and making adjustments on the fly to prevent overstock or missed replenishment opportunities.
WWD: How can they better use data and analytics to sharpen their strategy?
J.H.: Data and analytics are the backbone of informed decision-making. Moving beyond basic reporting, Skypad enables brands and retailers to leverage advanced insights to drive strategic action. Detailed sales and inventory metrics at the sku level provide a granular view of performance across products, regions and sales channels.
With comprehensive data, brands and retailers can identify emerging trends, forecast future demand more accurately, and spot long-term patterns. Aligning inventory with real-time demand minimizes out-of-stocks and reduces markdowns, driving both sales and profitability.
WWD: Can you explain how you work with brands and retailers?
J.H.: Collaboration is key at Skypad. We offer tailored solutions for both retailers and brands.
For retailers, Skypad centralizes data across various partners and channels, streamlining communication and enabling shared insights with brand partners. For brands, we automate data collection and reporting from multiple sources, consolidating information into one unified dashboard. This enables brands to access up-to-date, actionable insights to refine product offerings and improve stock allocation.
Skypad eliminates inefficiencies of manual reporting, empowering both retailers and brands to make data-driven decisions that optimize sales and enhance profitability.
WWD: What is the value proposition of your solution for brands? And for retailers?
J.H.: For brands, Skypad automates data collection and provides deeper insights into performance across all retail partners and sales channels. This leads to better decisions about product assortment, stock levels and promotions, improving inventory optimization and customer satisfaction.
For retailers, Skypad offers a white-labeled Vendor Analytics Portal, providing a consolidated view of vendor performance across multiple channels. This helps retailers identify trends, optimize inventory, and reduce out-of-stocks, improving collaboration with brands and maximizing sales and profitability.
WWD: What trends do you see emerging as we head into the new year? What do brands and retailers need to keep an eye out for?
J.H.: Localization and value focus: Brands will localize models and broaden price ranges to meet demand for value. Resale and off-price segments will expand, pushing premium brands to justify higher prices.
Technological innovation and agility: Outdated strategies will give way to new methods for differentiation and growth. Identifying emerging opportunities across regions and tech will be vital for success. Data-driven decision-making will continue to be paramount. Retailers and brands that leverage accurate data to predict consumer demand and manage inventory will gain a competitive edge.
Supply chain reconfiguration: Nearshoring and sourcing from aligned countries will increase. Agility in supply chains, with better inventory management, will be crucial.
Adapting to consumer behavior: In-store shopping is recovering; brands must enhance experiences with empowered staff. E-commerce will focus on smarter product discovery through AI-driven tools.
Consumer demographics: The over-50s “Silver Generation” is becoming a key market with rising spending power.
Sustainability: Sustainability remains essential, despite challenges in consumer willingness to pay more. Consumers are making purchasing decisions based on environmental impact. Reduce waste by aligning inventory with demand, minimizing overstock and contributing to sustainability efforts.
