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Case Studies > 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
The 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 The 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.
The 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.
Operational Impact
  • District managers were trained to interpret data insights and create problem-solving action plans based on their findings.
  • Strategic activations were developed and deployed for each store, including personalized action plans for store managers.
  • Real-time traffic and conversion metrics were displayed on POS systems in-store, allowing for immediate action and adjustments.
Quantitative Benefit
  • 22.3% increase in sales (excluding seasonal effects on traffic) for the 21 targeted stores.
  • Positive ROI was achieved in less than 1 month.
  • 21% increase in conversion, resulting in a $10,000 increase in revenue per store, per month.

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