CASE STUDY /
THREAD BOUTIQUE
ANALYTICS BLUEPRINT
Like most small retail businesses Thread, a boutique retailer in Columbus, had a problem that limited their ability to grow. They had a lot of data through their Point-of-Sale system, but they didn't have the time or expertise to analyze that data and make decisions based on the data they had. We knew exactly how to help.
The Problem
Too Much Data and Not Sure Where to Start
Financial institutions and software providers are able to provide an abundance of information that will help their business grow. They show the reporting available to make decisions that will allow them to become the next overnight success. But they don't explain to these boutique owners that it will require time and expertise to understand the story the numbers tell.
With our Analytics Blueprint, we were able to help Miranda, the founder of Thread, see a clear story with the data and point her in a direction that led to incredible growth. While all systems are a little different, most retailers generally focus on the same concepts: sales to their top customers, their margin and staffing levels. Miranda had her arms around margin and staffing, but needed some help identifying customer trends.
Our Approach
Assess & Analyze Data
We started the project by quickly assessing the information available and evaluate what data and reports would have the greatest impact on their organization. After completing a brief assessment, we concluded that a sales history and sales analysis by customer dating back to 2015 would give us 4 key customer groupings.
| Customer Groups |
|---|
| Top 10 customers |
| Next 100 customers |
| One-time large transaction customers |
| All other customers |
Our analysis of the ”Next 100” began to reveal new information that started to inform better business decisions.
Implementing a Plan
Now that we were able to start understanding the customer mix, we started looking for trends of individual customers within each group.
Financial institutions and software providers are able to provide an abundance of information that will help their business grow. They show the reporting available to make decisions that will allow them to become the next overnight success. But they don't explain to these boutique owners that it will require time and expertise to understand the story the numbers tell.
With our Analytics Blueprint, we were able to help Miranda, the founder of Thread, see a clear story with the data and point her in a direction that led to incredible growth. While all systems are a little different, most retailers generally focus on the same concepts: sales to their top customers, their margin and staffing levels. Miranda had her arms around margin and staffing, but needed some help identifying customer trends.
Interested in our services? We’re here to help!