Sales representatives that leverage data on a day-to-day basis can increase revenue productivity by 17%, according to Gartner. However, many retailers still have issues collecting and disseminating relevant information to specific stores and managers in real time.
Bohme, a regional fast-fashion retailer, has captured a real-time, comprehensive view of business operations and results since implementing multichannel business intelligence (BI) software from Domo. Using the solution, employees across the organization — from C-level executives to sales associates — have access to detailed insights on consumer trends and product sales. As a result, the retailer saw a 15% increase in sales shortly after implementation in September 2012.
The Bohme business has grown quickly, starting in 2008 with a single brick-and-mortar store in Utah, to approximately 12 stores nationwide, according to Vivien Bohme, CEO. However, with half of these stores out of state, the executive team struggled to keep a pulse on business performance and track product demand.
“Because we’re in the fast-fashion space, we compete against the likes of H&M and Forever 21,” Bohme said in an interview with Retail TouchPoints. Prior to Domo, “we couldn’t keep pace if one of our top-selling products went out of stock because we tracked everything manually.”
Over time, tracking and analyzing the sheer variety and velocity of data became too cumbersome, Bohme explained. “We strive to be the best in overall sales-per-square-foot, but we couldn’t track those metrics effectively as we grew. Moreover, we couldn’t check to see if every sales person was performing well.”
Bohme initially kept data within the corporate office, Bohme explained. Store managers received access to the platform in January 2013, which was a “big turning point” for the retailer. “Domo has helped equalize our playing field, even with the ongoing growth of e-Commerce.”
Using the BI platform, all Bohme team members have access to a cohesive dashboard that outlines financial data, revenue and in-demand products, even via mobile devices. Now, store managers and sales associates have detailed insights into performance metrics, which provides the information they need to improve sales.
By extending chain-wide data to store managers, the retailer is “creating conversations between managers at different stores,” Bohme stated, and improving collaboration across all locations.
Information available via Domo also helps the executive team provide managers and associates with more compelling incentives to ramp up store performance.
Results from top-performing sales associates across all locations are collected and aggregated into a cohesive list, so the entire organization can identify and recognize them.
“There’s nothing more exciting than seeing staff members be proud that they’re at the top of the sales list,” Bohme said. “Because we can find out who our key sellers are in real time, we’re able to reward them right away with either a gift card or other monetary prize.”