The Challenge
MANGO began by opening their first store in Barcelona in 1984, and expanded quickly throughout Spain, all the while refining their product offerings and store concept. International growth followed as MANGO entered Portugal in 1992, and from then on, progress was swift as MANGO took their Mediterranean-inspired flair to over 50 countries. “Our customers want to be able to buy high quality clothing at affordable prices, and to find a better-quality product than the other brands at a competitive price.” — Marta Setien, Director of Pricing at MANGO
MANGO’s growth has been supported by their focus on using data to determine the right products for each market as well as guide their pricing policies. Using the EDITED data trove covering more than 4 billion products, MANGO can see what their international competitors are stocking and how products are being priced and discounted. They can also pinpoint what trends are selling where, shedding light on local customer buying patterns. EDITED global data from the EDITED Retail Market Intelligence Platform gives retailers such as MANGO insight into new regions of the world, complementing the data their merchandisers use every day.
MANGO must constantly fine-tune their product for each market. “MANGO must have a global and local vision of the company’s positioning in each market to execute on our strategy, said Marta Setien, Director of Pricing at MANGO. “We have different competitors around the globe and MANGO must adapt products and prices to the customer’s needs in each country.” EDITED’s Market Analytics assortment and options tools support MANGO in understanding what products will work best in a specific region. EDITED helps MANGO identify white space in both local players’ assortments and in other global retailers to uncover expansion opportunities.
EDITED Market Intelligence data helps MANGO localize pricing across multiple regions and countries, ensuring pricing is right for that specific market. Using EDITED data, MANGO can get a view of the market landscape unique to each country they operate in, so MANGO can quickly adjust the product mix and country-specific pricing to meet local market conditions. “EDITED data lets us react quickly to any movements the competition is making in a particular country, commented Sergio Domenech, Pricing Markup Analytics at MANGO. “For example, if a country’s exchange rate has devalued significantly, and the competitor has adjusted pricing, we can adapt to maintain market position. But, if the competitor has done nothing, we can anticipate them and improve our market positioning.”
“Before EDITED, we needed at least two to three hours to perform manual scraping of each competitor’s website to gather pricing and discounting activity. Using EDITED Market Intelligence tools, we have saved multiple hours per country.”
The Solution
MANGO partnered with EDITED in 2017 to keep track of all of the different brands and retailers in their markets around the globe. MANGO constantly gathers information to set the right price in each market. “EDITED data allows us to see where we are out of position on price in respect to our competitors. EDITED helps us to detect in which categories and in what countries the quality to price ratio is not aligned with our customers’ needs,” commented Marta Sola, Pricing Markdown Analytics at MANGO. “We adapt collections and prices to each country in order to satisfy the end-customer expectations as much as possible.” EDITED’s Market Analytics price architecture and options tools support MANGO in understanding pricing architecture in the region or product category they’re entering.
MANGO uses EDITED’s Market Intelligence Visual Merchandising tool to get visibility on discounting activity across the markets where MANGO operates. “EDITED provides us with very useful tools that help us in monitoring what our competitors are doing in terms of markdown strategy,” said Sergio Domenech, Pricing Markup Analytics at MANGO. “In terms of pricing we use EDITED data retroactively to see in detail what communications our competitors have used in specific promotions.”
MANGO has saved time and money by using EDITED’s AI engine to gather data. “Before EDITED, we needed at least two to three hours to perform manual scraping of each competitor’s website to gather pricing and discounting activity,” added Sergio Domenech, Pricing Markup Analytics at MANGO. “That could take a long time, depending upon the number of competitors. We would aggregate all of that data, and then spend about an hour analyzing the data. Using EDITED Market Intelligence tools, we have saved multiple hours per country.”
During the Covid-19 pandemic many MANGO stores closed due to countrywide lockdowns, as customers pivoted to digital commerce. Supply chain and inventory issues compounded the challenges the retailer faced. Using EDITED’s Market Intelligence tools, MANGO was able to move swiftly to heighten customer interest with new product lines to keep customers loyal. Purchasing teams at MANGO launched new collections (Comfy) and changed existing collection structures to meet customer needs.
“EDITED helps us make business decisions based on real-time information and gives us the ability to react more quickly. In 2020, with our stores in lockdown, we could move fast to meet customer demand. This speed and responsiveness has been key to gain 900,000 new online customers. We now have over 6 million active ecommerce customers. In 2020, our online gross revenue grew almost 50%.” — Marta Setien, Director of Pricing at MANGO
