Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by teens and pre-teens. Currently operating over 1,800 stores in the United States, Five Below is focused on growth. To support its goals, the retailer needed an inventory optimization solution that could account for its diverse product categories and inventory management objectives. Five Below selected invent.ai’s retail planning suite, an AI-driven platform that automates forecasting and decision-making processes to help large retailers optimize inventory levels and maximize profitability.
“Invent.ai has been a game-changer for our operations, helping streamline replenishment processes across a wide range of product categories and a large store network,” said Graham Poliner, Chief Strategy and Analytics Officer at Five Below. “We expect invent.ai’s algorithms to continue to help us optimize inventory levels, reduce stockouts and overstocking while ensuring that each location has the right products at the right time. The invent.ai team has been an exceptional partner, working closely with Five Below to tailor the capabilities to our unique needs.”
Five Below now utilizes invent.ai’s retail planning platform to position the right inventory at the right locations, in the right quantities, on a daily basis. Key capabilities include:
Notably, invent.ai and Five Below implemented a pilot in just three months across several categories and subsequently expanded to all categories of the business. The partnership will continue beyond implementation through invent.ai’s “Hub Model.” Five Below will now work with a dedicated team of invent.ai’s experts on an ongoing basis to identify opportunities on the scalable profit-optimizing platform.
“AI is completely reshaping how the retail industry approaches inventory management, and early adopters will be well positioned for financial success. At invent.ai, we’re excited to partner with innovative retailers, like Five Below, and help them leverage our platform to drive profitable growth for years to come,” said Gurhan Kok, Founder and CEO of invent.ai.
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Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by teens and pre-teens. We believe life is better when customers are free to "let go & have fun" in an amazing experience filled with unlimited possibilities. With most items priced between $1 and $5, and some extreme value items priced beyond $5, Five Below makes it easy to say YES! to the newest, coolest stuff across eight awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy and New & Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has over 1,800 stores in 44 states. For more information, please visit www.fivebelow.com or find Five Below on Instagram, TikTok, and Facebook @FiveBelow.
Invent.ai is a pioneering AI-decisioning platform that gives retailers superpowers to make the best planning and operational decisions to grow sales, revenue and margin dollars. Delivering fast, measurable value through its technology solutions, invent.ai brings together retail planning data, predicts outcomes, and optimizes inventory, pricing and merchandising.