We partnered with a global retail company in Türkiye to increase business growth for two of their renowned fashion brands. The result was enhanced customer experience, improved market share, and a 20% increase in retail unit sales annually.
The retail industry is extremely competitive, which makes it susceptible to low levels of brand loyalty. That said, having a customer-forward strategy and leveraging the power of data can turn things around.
A combination of our customer-centric approach, data-driven tools, and insights into the retail industry helped drive significant tangible growth in sales for the two brands of one of our retail clients.
We also set up an analytical, strategic, and structured business model which is bound to promise sustained development for them in the future.
When the customer is first, growth follows
The right step is to always start with customers, simply because the customers are always right. Having a deeper understanding of customer preferences, expectations, and behaviour is critical to elevating their experience, and therefore the market share.
We helped our retail client identify a range of factors that were impacting their customer experience in one of their dynamic markets, Türkiye. This was made possible by launching a Customer Research and Development (CR&D) initiative, which introduced new ways of measuring Voice of the Customer (VoC).
Furthermore, to gain a 360-degree understanding of customers and their pain points, we enabled stakeholder and ecosystem discovery, combined with a host of qualitative and quantitative customer research methods.
The in-depth understanding of our client’s customer base helped us outline customer experience pillars and clearly identify best practices that led up to it. This approach increased our client’s sales and drove higher revenue growth.
Data unlocks the secrets to better sales
Understanding data helps us understand consumption patterns. This leads us to generate insights into consumer behaviour and formulate growth strategies. That is exactly what we helped our retail client achieve in Türkiye.
At Metyis, one of the areas of our expertise lies in partnering with our clients to help them embark on digital transformation journeys for positive business impact. Our tools, solutions, and expertise always come together to enable data to understand patterns, solve problems, and make decisions.
We collaborated closely with teams across IT, CRM, Business Intelligence, and eCommerce to examine their existing data models and sources and evaluated the most suitable and cost-effective data platform for our client.
By setting up Microsoft Azure, we were able to grant data owners access to a single source of truth with tailored KPIs and dashboards for business impact and transformation. This gave our client a 360-degree view of data, personalised customer experience capabilities, and solid growth constructs.
Stepping up to success
The retail industry is highly dynamic. With the increase in competition, customer segments, and omnichannel operations, it becomes paramount for retailers to be more flexible, agile, and resilient than ever before to grow. We partnered with our retail client to handhold them through four steps to increase their sales:
Understanding the market
We created a web scraping tool to track the competitive landscape. The tool enabled us to collect price and product information from competitor websites. This also included dashboards that provided real-time insights into the current market and helped define and understand the brands’ positioning better, in terms of products and pricing.
Increasing marketing effectiveness
Understanding the market gave us a segway into tracking our retail client’s marketing effectiveness. We launched a statistical approach called Market Mix Modelling (MMM) which helped us optimise the marketing budget to increase revenue. This was carried out using previous sales metrics, digital and traditional marketing methods, macroeconomics, and promotional and special events data.
Implementing omnichannel marketing
Getting a deeper understanding of marketing budgets with the power of data helped us improve marketing budget allocation. This allowed the two brands to explore and invest in a series of new popular social platforms. A consolidated dashboard was set up to make informed decisions on budget allocations across digital and traditional media.
Furthermore, we provided our retail client with a product recommendation solution to increase sales through a series of personalised recommendations for their omnichannel marketing.
Better overall sales
To elevate omnichannel sales, the team cross-correlated sales data using basket-analysis algorithms, which offered invaluable insights to the two brands. This ensured that products are not just appropriately allocated, but also placed complementary items frequently bought together, aiding sales and effectively directing the customers towards making their desired product choice.
Partnering for impact
This conglomerate’s partnership with us gave its retail subsidiaries the necessary data architecture and customer-centric strategy to ease their customer pain points, gain a comprehensive understanding of their customer base in Türkiye, and grow sales.
As the partnership enters the impact phase, our expertise in growth will generate invaluable insights to guide mid and long-term initiatives, create a sustainable approach, and ensure success well into the future.