Case Studies Identifying & Capitalizing on Store Performance Opportunities

Edit This Case Study Record

	Identifying & Capitalizing on Store Performance Opportunities

Identifying & Capitalizing on Store Performance Opportunities

Technology Category	Analytics & Modeling - Predictive Analytics Application Infrastructure & Middleware - API Integration & Management Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Retail
Applicable Functions	Business Operation Sales & Marketing
Use Cases	Retail Store Automation
Services	System Integration Training
Challenge	A global brand with nearly 500 stores sought to better understand its existing business to formulate and implement effective corrective action and continuous improvement strategies. Read More
About Customer	RetailNext is a leading company in the retail analytics space, recognized by Entrepreneur Magazine as the number one ranked company on its 2016 Entrepreneur 360 List. The company is dedicated to empowering retailers to enhance their operations, grow revenues, and improve profits while delivering a unique shopping experience that boosts customer retention and loyalty. With a global presence, RetailNext serves a wide range of retail clients, helping them leverage data to make informed decisions and drive business success. Read More
Solution	RetailNext deployed its Traffic 2.0 solution in over 100 stores across 7 territories. The solution utilized RetailNext’s open API to integrate data into the brand's existing business intelligence platform and workforce management system. This integration allowed for real-time traffic and conversion metrics to be displayed on POS systems in-store. Data was collected over a period of three months, and district managers were trained to interpret the insights and create problem-solving action plans. These managers then developed and deployed strategic activations for each store, including personalized action plans for store managers focused on conversion and average transaction value, along with daily monitoring feedback loops. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Application Infrastructure & Middleware - API Integration & Management

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Retail

Applicable Functions

Business Operation

Sales & Marketing

Use Cases

Retail Store Automation

Services

System Integration

Training

Challenge

A global brand with nearly 500 stores sought to better understand its existing business to formulate and implement effective corrective action and continuous improvement strategies.

About Customer

RetailNext is a leading company in the retail analytics space, recognized by Entrepreneur Magazine as the number one ranked company on its 2016 Entrepreneur 360 List. The company is dedicated to empowering retailers to enhance their operations, grow revenues, and improve profits while delivering a unique shopping experience that boosts customer retention and loyalty. With a global presence, RetailNext serves a wide range of retail clients, helping them leverage data to make informed decisions and drive business success.

Solution

RetailNext deployed its Traffic 2.0 solution in over 100 stores across 7 territories. The solution utilized RetailNext’s open API to integrate data into the brand's existing business intelligence platform and workforce management system. This integration allowed for real-time traffic and conversion metrics to be displayed on POS systems in-store. Data was collected over a period of three months, and district managers were trained to interpret the insights and create problem-solving action plans. These managers then developed and deployed strategic activations for each store, including personalized action plans for store managers focused on conversion and average transaction value, along with daily monitoring feedback loops.

Impact #1	District managers were trained to interpret data insights and create problem-solving action plans based on their findings.
Impact #2	Strategic activations were developed and deployed for each store, including personalized action plans for store managers.
Impact #3	Real-time traffic and conversion metrics were displayed on POS systems in-store, allowing for immediate action and adjustments.

Impact #1

District managers were trained to interpret data insights and create problem-solving action plans based on their findings.

Impact #2

Strategic activations were developed and deployed for each store, including personalized action plans for store managers.

Impact #3

Real-time traffic and conversion metrics were displayed on POS systems in-store, allowing for immediate action and adjustments.

Benefit #1	22.3% increase in sales (excluding seasonal effects on traffic) for the 21 targeted stores.
Benefit #2	Positive ROI was achieved in less than 1 month.
Benefit #3	21% increase in conversion, resulting in a $10,000 increase in revenue per store, per month.

Benefit #1

22.3% increase in sales (excluding seasonal effects on traffic) for the 21 targeted stores.

Benefit #2

Positive ROI was achieved in less than 1 month.

Benefit #3

21% increase in conversion, resulting in a $10,000 increase in revenue per store, per month.

Download PDF Version

Overview

Identifying & Capitalizing on Store Performance Opportunities

Operational Impact

Quantitative Benefit