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Case Studies > 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
The 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 The 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.
The 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.
Operational Impact
  • The RetailNext solution helped the retailer identify opportunities store by store, which subsequently helped increase the company’s overall sales.
  • The Art of Shaving was able to expand its key performance indicators — adding conversion as a new KPI.
  • The company reported that a one percent increase in conversion led to an additional $200,000 in monthly sales.
Quantitative Benefit
  • A one percent increase in conversion led to an additional $200,000 in monthly sales.
  • This increase in conversion resulted in a total of $2.4 million in added annual revenue.

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