As part of its global expansion strategy, the luxury retailer was looking to expand its network of Gallerias. With a 2X surge in the cost of retail spaces, our client, was under pressure to improve profitability and reduce costs. The insights were siloed, data quality was questionable and significant efforts went into manually collating data from multiple stores and generating insights from it.
At the brand space-level, a single profitability view across locations wasn’t available and inconsistent cost allocations made P&L computation cumbersome. Data was shared in disparate files which raised data trust & data security concerns while making collaboration within the organization difficult.
The new data-savvy leadership that took over, looked to break data silos within the organization to improve space profitability and each individual store’s performance.
2X increase in retail space costs
Lack of single profitability view
Low data trust
Infocepts team built a highly intuitive, mobile-enabled space profitability analytics app that enabled store and brand managers to get answers to questions such as:
- Which brands to assign a bigger space or demote to multi-brand area?
- Which costs are eating away net profit?
- Given its cost structure, what commercial terms will ensure profitability?
These answers helped the store operations & merchandising teams to identify high/non performing brands and the finance teams to analyse profitability by brand across locations and also use this data while negotiating with vendors.
The solution automated data collection, processing & business rules application in an efficient, fast, and error-free manner. Automated exception reports provided early indication of data quality issues. The solution also had provisions for users to update business rules on the fly, thus offering flexibility for non-technical users to independently customize requirements and performance analysis.
- Enabled 300+ business users across 43 stores to make timely decisions that resulted in a 9.5% rise in store profits within a year across 43 stores globally
- Automation yielded productivity gains of 5400 man-hours of manual effort, translating a to cost savings of $1.5M per year and repurposed staff time to more value-added activities
- Data & insights accuracy was close to 100% enabling higher trust & adoption
- Fine-grained, role-based access by locations & products ensured only authorized users had access to sensitive financial data
- The solution won the award for innovation and collaboration at our client’s annual awards ceremony
Please fill the below details
Want to know more? Talk to us today.