How PUMA Mastered The Power Of EDITED

• Using Opportunity Trees in Enterprise Intelligence, PUMA can identify products converting at a high rate and optimize placement on its site to drive revenue. This strategy is more effective for the retailer than purely focusing on driving site traffic.
• As rising costs wage war on margins, brands are turning to markups to soften the blow. This quarter, EDITED introduced a new Price Inflation feature within Market Intelligence to help users identify where their competition is applying price increases.
• Sitewide discounts are declining in popularity as retailers look to be more strategic with sales during key events like Black Friday. EDITED’s new Top Words feature in Visual Merchandising unearths critical patterns and promotional opportunities.
• By creating customized Dashboards in Market and Enterprise Intelligence, users can automate weekly tasks for Monday trade meetings. PUMA worked with EDITED to replace outdated Excel documents with action-driving Enterprise Intelligence Dashboards, gaining back critical hours every week.

Driving Conversion

“Implementing conversion driving strategies on site will be much more of an effective way for us to convert consumers rather than just purely focusing on traffic. EDITED is playing currently, and will play, a crucial role into helping us increase those onsite conversions.”

– Colette Hilton, Head of Retail & Ecom UKI at PUMA

Identifying Product Opportunities

PUMA has been able to leverage Opportunity Trees within Enterprise Intelligence to pinpoint products with high conversion, but low views, to optimize its onsite merchandising. For example, the brand first discovered an EDITED research report on women’s seamless training wear, putting the trend on its radar. PUMA then noticed the category had a high conversion rate, but low views due to the placement on its site. By pinning these items to the top of the page, the brand noticed a significant uplift resulting in immediate revenue. This is just one example of how retailers can drive incremental business by reading and reacting quickly to data.

To learn more about the possibilities Enterprise Intelligence holds for your business, please contact your account manager.

Maximizing Margins

“Us and our competitors are lifting their prices. We need to understand how these new price points are resonating with our consumer.“

– Colette Hilton, PUMA

Price Inflation Filter

Shoppers and brands alike are feeling the effects of the cost of living crisis. To help users like Colette bridge this gap and discover margin opportunities in their assortment, EDITED now offers a Price Inflation tool in Market Intelligence to identify products for which the price is higher than the first price and/or previous price seen for that item. It not only provides support in a turbulent economy, but saves time and allows clients to monitor key events happening during a recession. Retailers can use this filter to identify patterns and understand where the competition is applying price increases. Reacting quickly is key to staying competitive and maximizing margin rates.

Informing Promotional Activity

Visual Merchandising & Top Words

This feature was recently introduced in Market Analytics and should be leveraged to track and analyze email communications, homepages and category landing pages of an entire region, or specific competitors set over time. Users can input keywords and date filters to zero for a critical topic or event across the industry. Heatmap Analysis provides a historical view of when retailers began communicating these occasions to customers. Visual Merchandising Top Words allows users to see the most used terms in their dashboard and unveils granular analysis on color, pattern, themes, fabric and brand names.

“It’s not going to be a one fits all approach. We’ll look at slow categories rather than just blanket promotions that you’ve seen us, and other retailers do. We did have our most successful Black Friday ever.“

– Colette Hilton, PUMA

Speeding up Monday Trade

Market Intelligence Dashboards

Dashboards in Market Analytics can help summarize your data stories with customizable widgets and create narratives within your analysis. It assists with trade by creating bespoke charts comparing product counts, average percentages of SKU sell outs and pricing for a retailer’s category or competitor set to rapidly visualize performance across the online landscape. A retailer could look at the chart example below and easily see that SKU sell outs spiked in July compared to the same time last year. This information may influence upcoming decisions around stock position and footwear product phasing.

Retailers can also add notes and product cards to highlight successful or unsuccessful styles, pinpoint emerging or declining trends, and link EDITED Retail and Runway articles. These Dashboards can be shared within your team, helping phase out archaic printed reports that are still commonplace today.

“I didn’t think it was ever possible to speed up Monday trade until we actually launched EDITED.“

– Colette Hilton, PUMA

Enterprise Intelligence Dashboards

A key benefit of using Enterprise Intelligence custom Dashboards is the amount of time saved each week building the analysis. DynamicAction helps retailers immediately understand the performance of their commerce business by connecting and analyzing millions of data points from every part of a retail organization. It can then pinpoint margin-eating disconnects in the business, prescribe the precise actions to take and accurately rank those actions by financial impact. For example, a retailer can see its best-selling items, and determine which are converting at the highest rate. This can pinpoint styles that should be featured at the top of the product page to drive sales.

To learn more about the possibilities Enterprise Intelligence holds for your business, please contact your account manager.

The Omnichannel Experience

Creating the Right Environment

Fostering a positive and unique brand experience from every touchpoint with the customer is a key focus for retailers today. The pandemic altered the modern-day shopping experience, not only forcing brands to polish their online channels but also creating a new appreciation for in-person interactions. PUMA, along with other brands, recognize this is a major challenge facing retailers today that will be critical to success in 2023. Access to real-time data from EDITED can aid our clients in making informed decisions regarding the customer experience.

“Our mission as a team is to create the best-in-class experience for the brand, while maximizing customer experience.“

– Colette Hilton, PUMA

Listen to the Full Podcast

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