A global omnichannel clothing and accessories retailer increased WoW site visits by 25% and orders by 11%, while also increasing conversion of purchases by brick and mortar and online lapsed shoppers. The brand triggered a Friends & Family promotion to capitalize on the significant rise in demand for comfortable lounge and activewear from the suddenly bolstered ‘WFH’ workforce. Their team targeted current online customers and former store customers, fine-tuning the terms of the promotion armed with data reporting which comfortable basics were topping customer searches. In addition to discounting basic knits, the brand accelerated markdown activity on unproven seasonal products.
The F&F sale was so successful, the retailer ran low on stock cover on WFH basics and found they would be unable to sustain the increased sales levels from these products. These insights allowed them to cease mark downs in this category, improving margins on future sales.
- Re-engage Lapsed and drive in-store customers to the online channel.
- Optimize markdowns and marketing campaigns vs. demand and inventory availability
- Focus on demand all the way to the product ID level
- Promote inventory trending in online product searches
- Target and drive store only and lapsed online shoppers to the website
- Mark down unproven seasonal products
- 25% increase in web visits
- 11% rise in orders WoW
- Significant lift in purchases by lapsed customers
- DynamicAction’s platform reveals what’s driving a change in metrics
- Custom Dashboards can pivot on that driver, delivering a profit, customer and marketing perspective in one click
- DynamicAction’s Dimensional Analysis provides a unique approach toward deciling a business, enabling teams to get the most out of their winners and mitigate their losers
- Organized against the product hierarchy, this approach also reveals demand and profit opportunities for products “in the middle” by grouping them into logical cohorts by decile
- Highlighted product opportunities enable teams to quickly identify outliers against cohorts of products with similar behavior across the hierarchy.
- The ability to curate a wide range of metrics gives the user a complete picture of the pushes and pulls against demand, margin and inventory driving more informed decisions, quickly.