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?
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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.