Today’s story involves a major retailer that leveraged Outlier to quickly understand how consumers, sheltered at home, changed their shopping behavior. While it is conceivable to think that shelter in place consumers would avoid non-essential shopping, consumer behavior is anything but predictable.
Having the data necessary to quickly understand changing behaviors is critical in this post-coronavirus world is especially important for any consumer company. This particular company has a portfolio of brands that span every conceivable consumer segment and retail operations and has been reliant on brick and mortar sales as opposed to digital and needed a Coronavirus plan, fast!
How Does a Regional Retail Power Player Plan for a Pandemic?
The Coronavirus pandemic has fundamentally changed the way we live. 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. Trips to gyms, restaurants, socializing with friends or planning nights out on the town all have been frozen. This fundamental change with regard to where and how we spend our time has forced every business to transform all the assumptions contained in their pre Coronavirus business plan.
Fortunately for the retailer, Outlier was able to immediately identify not only changes in traffic and shopping patterns as Coronavirus cases began to ramp up, but which brands were experiencing the most dramatic shifts, and related drivers of those shifts. One brand in particular experienced record new e-commerce users, enabling the planning team to be prepared for a dramatic spike in e-commerce traffic and checkouts.
This apparel brand was able to increase the capacity of the warehouse staff and effectively manage the inventory to fulfill this demand. Outlier provided the necessary insights to enable this organization to deliver a satisfying customer experience as well as efficiently managing its own assets to do so.
This data would have taken the brand weeks to understand and even longer to react without automated business analysis. Outlier empowers businesses to take a deep look into their data and uncover unexpected trends that can lead to very quick and relevant actions which ultimately can lead to an increase in revenue as well as customer satisfaction. Sign up for a custom demo to see how.