Tailoring fashion retail with actionable insights
Ms Sophia Goh, second-generation owner of DMK, a fashion retailer for women’s footwear and accessories set up in 2000, wanted to understand how the company could improve its visual merchandising to attract customers and increase footfall to its stores. She sought to know if the items placed on the front display table, for example, would alter the traffic flow, and which combination will be best in terms of attracting customers.
Ms Sophia Goh saw the importance in improving engagement with its customers in the digital era, as businesses could not function solely on one-way communication.
She knew the traditional way to find out consumer preference by counting the number of people who stopped to view a new design was not the way to go. It would take time away from serving customers and was also not cost effective or accurate.
Use of technology brings actionable Insights
With the aim of enhancing consumers’ shopping experience, Ms Sophia Goh looked to Prism Skylabs, a real-time video analytics system, that is pre-approved under the SMEs Go Digital programme.
For the first time, the company is able to correlate the types of designs launched, in terms of heel height or colour, on the font display table or window displays with the traffic flow to their shops. With the insights gathered, they could effectively display the types of new designs that were well received, driving more foot traffic into their shops and boosting revenue across the board.The video analytics system also enabled DMK to understand the percentage of traffic flow outside its stores that it had not yet captured. At the same time, the data revealed where customers went upon entering the store. These reports and visualisations helped DMK reorganise its displays and optimise shelving placement.
Make faster decisions, strategically
What’s most important was doing away with manual monitoring. With the data collated and presented coherently, there was no need to separately put everything together in a chart. Visually, this also made it easier for managers to make more informed decisions with hourly or daily updates.
This transformation has changed the job scope for staff, resulting in lower turnover and a more productive environment. They do not have to focus on the nonproductive areas any more. Instead, they spend time on more tactical and strategic areas, like brainstorming ideas to improve a store’s foot traffic with the data insights.
More than 50 such digital solutions have been pre-approved by IMDA, which can help SMEs improve their operational efficiency and enhance customers’ experience. For more information about pre-approved solutions, SMEs can contact SME Centre @ ASME.
This article was originally published by Infocomm Media Development Authority on 10 November 2017.