Case Studies Empowering Performance through Data and Shopper Insights

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	Empowering Performance through Data and Shopper Insights

Empowering Performance through Data and Shopper Insights

Technology Category	Analytics & Modeling - Predictive Analytics Functional Applications - Remote Monitoring & Control Systems
Applicable Industries	Retail
Applicable Functions	Business Operation Sales & Marketing
Use Cases	Retail Store Automation Track & Trace of Assets
Services	Data Science Services System Integration
Challenge	The Art of Shaving wanted to compare store performance across its retail locations but lacked an accurate entrance traffic solution and access to the key metrics and data necessary to build upon its limited set of key performance indicators (KPIs). The company needed a reliable method to review detailed metrics and analyze conversion rates by store, so it could identify norms, trends, and outliers. Read More
About Customer	Founded in 1996, The Art of Shaving™ is the world’s leading premium shaving brand offering aromatherapy-based grooming products, high-end shaving instruments, and a retail chain dedicated to men’s shaving. The company has more than 100 retail shops across the United States. Read More
Solution	The Art of Shaving deployed RetailNext’s entrance traffic counting and conversion solution across all of its stores to gain the most accurate and reliable traffic count possible. The retailer also integrated its Point-of-Sale data into the RetailNext solution. RetailNext helped the retailer to achieve industry-leading accuracy of traffic counts, access customized reports quickly and easily via web and email, review video for any store in real time or over any time period, analyze detailed metrics and conversion rates by store over any time period, establish store benchmarks with automatically calculated conversion rates, identify high-performing stores and analyze for best practices, uncover low-performing stores and target for training and support, and accurately measure performance metrics. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Functional Applications - Remote Monitoring & Control Systems

Applicable Industries

Retail

Applicable Functions

Business Operation

Sales & Marketing

Use Cases

Retail Store Automation

Track & Trace of Assets

Services

Data Science Services

System Integration

Challenge

The Art of Shaving wanted to compare store performance across its retail locations but lacked an accurate entrance traffic solution and access to the key metrics and data necessary to build upon its limited set of key performance indicators (KPIs). The company needed a reliable method to review detailed metrics and analyze conversion rates by store, so it could identify norms, trends, and outliers.

About Customer

Founded in 1996, The Art of Shaving™ is the world’s leading premium shaving brand offering aromatherapy-based grooming products, high-end shaving instruments, and a retail chain dedicated to men’s shaving. The company has more than 100 retail shops across the United States.

Solution

The Art of Shaving deployed RetailNext’s entrance traffic counting and conversion solution across all of its stores to gain the most accurate and reliable traffic count possible. The retailer also integrated its Point-of-Sale data into the RetailNext solution. RetailNext helped the retailer to achieve industry-leading accuracy of traffic counts, access customized reports quickly and easily via web and email, review video for any store in real time or over any time period, analyze detailed metrics and conversion rates by store over any time period, establish store benchmarks with automatically calculated conversion rates, identify high-performing stores and analyze for best practices, uncover low-performing stores and target for training and support, and accurately measure performance metrics.

Impact #1	The RetailNext solution helped the retailer identify opportunities store by store, which subsequently helped increase the company’s overall sales.
Impact #2	The Art of Shaving was able to expand its key performance indicators — adding conversion as a new KPI.
Impact #3	The company reported that a one percent increase in conversion led to an additional $200,000 in monthly sales.

Impact #1

The RetailNext solution helped the retailer identify opportunities store by store, which subsequently helped increase the company’s overall sales.

Impact #2

The Art of Shaving was able to expand its key performance indicators — adding conversion as a new KPI.

Impact #3

The company reported that a one percent increase in conversion led to an additional $200,000 in monthly sales.

Benefit #1	A one percent increase in conversion led to an additional $200,000 in monthly sales.
Benefit #2	This increase in conversion resulted in a total of $2.4 million in added annual revenue.

Benefit #1

A one percent increase in conversion led to an additional $200,000 in monthly sales.

Benefit #2

This increase in conversion resulted in a total of $2.4 million in added annual revenue.

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Overview

Empowering Performance through Data and Shopper Insights

Operational Impact

Quantitative Benefit