Kaygen assisted a leading national home improvement retailer to streamline and improve their product data onboarding process for their e-commerce platform. Imagine the difficulty standardizing and categorizing hundreds of thousands of items correctly, so they can be easily searched and purchased on their website. In a short time, the client started realizing high 6 figure increases in annualized top-line online revenue for products that were previously mis-categorized.
Retail and Distribution
Today’s retail landscape is in a constant state of flux as the progression of digital technology continues to trample all over traditional models of buying habits.
Retailers are having to evolve at a rate never seen before to stay afloat and compete with Omnichannel online innovators, in an increasingly cut-throat and global environment. Today consumers rule and the businesses that can predict what they want win the day. As multiple ways to attract and retain customers emerge, it’s more important than ever to understand what compels consumers to act and how to anticipate consumer trends.
The Financial Services Sector, a multi trillion dollar market, is on the front lines of real Data Revolution. Leveraging Big Data and IoT which is now offering information based on sensors, satellite images, web and app scraping, sentiment analysis data via social media, credit card transactions, geolocation, weather, crowdsourcing estimates, B2B and B2C financial data sets to draw on existing and new sources of data for a competitive advantage.
Where personalization was once viewed with suspicion, in today’s fast-paced world where everyone feels time-crunched, a balanced retail experience is increasingly more attractive. Consumers are more comfortable having their loyalty data, purchase history and brand-relevant interactions accessed in pursuit of a smart, personalized shopping experience that anticipates their needs, likes and dislikes. But companies need to be careful they don’t overstep the mark – more intimate data around people’s personal lives, social media networks and browsing history are still deemed private, and must be protected with the utmost in security.
Kaygen Enterprise Information Management services and specialists are a necessity to help your organization compete in today’s changing marketplace:
Brooks Running: One of our clients in athletic footwear and apparel was looking to increase their online direct web sales. However, they had a problem where they had significant duplication in their customer data causing challenges across the organization and preventing them from achieving their online sales goals. Kaygen was able to solve their customer data duplication problem and harmonize their customer data across their key systems and processes. By delivering the 360 degree view of the customer, not only did their online sales channel business increase, but they were able to use the data in their data lake to see that the average cart size for customers on their e-mail marketing list, was approximately 30% higher than their other customers through improved business intelligence and marketing analytics, fueling their marketing initiatives.
Applied Industrial Technologies: For a leading industrial supply retailer and distributor, Kaygen provided a comprehensive product data search and matching capability of their multi-million item database. Kaygen worked with their National bid response team to match and fulfil purchase requests from their customers with their item database. By providing a higher match rate and ability to fulfil more products for their clients, their win rates increased while maximizing their deal size, significantly increasing competitive bids and sales wins.