Written by James Goddard
How a Leading British Technology Retailer Harnessed insightNOW to Meet Seasonal Demand
The client is one of Britain’s best-known high street brands, with an international reputation for quality of design and continual innovation. While its traditional downstream wholesale operation was performing strongly, the client had started to branch out into direct sales, in which it saw enormous potential for revenue growth and future security in a tumultuous retail landscape.
The client‘s sales operations span 31 different markets and 9 time zones, and it is mandated to offer global price parity, creating an enormous challenge in striking the best balance to maximise sales. Faced with competition from the digital native eCommerce providers, which are geared up by nature to improve sales performance through continually acting on rapid analytics, the client needed to significantly improve its reaction speeds to changing market conditions – at scale.
However its existing analytics solutions did not interoperate and it was impossible to identify high-level trends and customer behaviour fast enough to take any impactful actions, such as altering product prices to encourage demand as new markets came online. This was exasperated over peak trading events, during which organisations can generate or lose 60% of annual revenues in events like Black Friday and Singles’ Day, and anything other than real-time analysis and responsive decision-making places businesses at a disadvantage. The client looked to Appsbroker and Google Cloud to boost revenues during these critical periods.
Appsbroker worked in partnership with the client to go live with insightNOW in 2019 to respond to these challenges.
insightNOW converges all of the client’s different data streams globally, then interprets and displays real-time information across every market, time zone and currency in a unified, consistent format, automatically converting currencies and comparing performance by region at relative times. This enables teams from the C-level down to gain immediate insights into their respective areas and make informed decisions instantly to continually optimise sales performance.
The client always offers global price parity and benefits significantly from the ability to continually assess the performance of products at both a per-region and holistic level which allows international price adjustments to be effectively balanced, enticing more customer purchases. As insightNOW is powered by Google Cloud, it has the scalability and elasticity to seamlessly handle even the enormous surges faced during peak trading events, where demand can skyrocket by 100 times, while still delivering real-time visibility. This gives the client a vital advantage in moving faster than its competition during these surges, and in the first year of go-live revenues grew by 40% due to improved responsiveness during peak trading.
- 100x surge in customer demand faced by the client during Black Friday 2019
- 31 distinct markets with multiple currencies converged into a single environment
- 40% global revenue growth in first year of go-live with insightNOW
- 9 time zones automatically accounted for by insightNOW