Today’s story involves a Bath & Beauty Brand that leveraged Outlier to quickly identify and understand which bath and beauty products at home consumers were demanding signs of the pandemic grew. Most of the brand’s items are ‘non-essential’ but nevertheless extremely popular with consumers. One segment in particular was particularly difficult to forecast. Candles?
Without Outlier, this brand wouldn’t know to ask the questions about their candles. Do shelter at home consumers demand more candles? If they do, which SKUs do they prefer? Fortunately for the brand Outlier automatically alerted the brand, in near real-time, not only that candles were in increasing demand, but also which particular SKUs were increasing in sales. As a result, the brand was able to ramp up inventory and deliver incremental profit in this tough time.
The Coronavirus pandemic has fundamentally changed the way we live. For so many things we need, the places we go and activities we participate in were designed to fit around a life where people spent Monday-Friday’s in an office. However now with ‘non essential’ work suspended in many places as a result of social distancing we are now spending the vast majority of time at home.
How Does a Bath & Beauty Retailer Identify Post Pandemic Outliers?
This fundamental change with regard to where we spend our time has had a profound effect on many markets and companies. The spike in the demand for toilet paper is one example. However, for many brands the effect of the pandemic on the demand for their products is not so obvious.
Outlier finds the unexpected in your data automatically. This Brand was not expecting candles to be a highly purchased product during the pandemic, but Outlier shows a new trend in candle sales. The Brand was able to quickly start promoting candles and leverage this change in customer behavior. In this new normal, it is imperative that your resources be focused on the most optimal outcomes for your business. By only sharing the insights that drive your business, Outlier saves you hours, days or weeks of time.
Outlier empowers businesses to take a deeper look at their data and uncover unexpected trends that can lead to revenue increases. Sign up for a custom demo to see how.