The client is a leading consumer electronics retailer headquartered in Vancouver, Canada. The company has several retail outlets spread across North America.
Today consumers are digitally empowered, and they can research competitive offerings while standing in a store. This is one of the reasons why customers are less likely to remain loyal to a brand. In such a situation, retailers can witness a sharp decline in their profit margins. Therefore, they need to relook and redesign their in-store merchandising strategies to boost customer engagement. To do so, retailers need to focus on adopting a customer-centric approach by leveraging merchandising analytics solutions to drive customer loyalty and improve sales and profitability.
The client, a consumer electronics retailer, after spending considerable resources on online channels was looking at ways to improve the return on customer acquisition cost. With their existing business models, they were not able to break data silos and gain an in-depth understanding of cross-department data sets. Therefore, they wanted to leverage retail merchandising analytics solutions to create more efficient and lucrative pathways to decisive, profit-driven actions. Also, the client wanted to develop customized merchandising plans and assortment optimization strategies to improve sales, enhance customer satisfaction, and optimize store layouts.
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Solution Offered and Value Delivered
The merchandising analytics experts at Quantzig adopted a comprehensive two-step approach to help the client redesign business processes and assortment planning to improve their digital visibility. The first step focused on understanding the client’s business structure, their goals and core business challenges. The second step revolved around performing an in-depth root cause analysis to benchmark the performance of their retail outlets to understand strengths and weaknesses around the catchment area, store positioning, branding, competitor strategy, and offerings. The solution offered helped the client to align their merchandising decisions with customer expectations and business goals. Also, with the help of our retail merchandising analytics solutions, the consumer electronics retailer was able to identify and capitalize on previously uncovered cross-merchandising opportunities to increase multichannel profitability and expand the global customer base.
Quantzig’s customer-centric merchandising analytics solutions help retail companies to develop better plans to improve MROI. Request a FREE demo below to gain better insights.
Quantzig’s merchandising analytics solutions also helped the client to:
- Identify and categorize their outlets based on the performance
- Gain real-time insights into customer buying behavior based on global sales performance
- Better understand and analyze the effectiveness of their marketing strategies
Why Choose Quantzig as Your Next Merchandising Analytics Service Provider?
Quantzig’s merchandising analytics portfolio helps companies to improve decision-making and drive profitable sales and growth for players in the retail industry. Our merchandising analytics solutions aim at empowering retail businesses with free form data exploration capabilities to generate customized analysis and actionable insights. We offer an extensible data management framework that complements the solution’s data discovery capabilities, which are enabled through a centralized server-based workbench.