EOSS at physical stores attract online shoppers and potential buyers to the brick & mortar stores and provide them with the complete in-store shopping experience and result in higher conversion rate,s says Kunal Mehta, Vice President Marketing and Business Development of Being Human Clothing while interacting with Retailer Media..
End of Season Sale has been a hit sales strategy among retailers. How do you analyze the evolution in terms of consumer purchase trend?
In terms of tracking consumer purchase trends, we maintain a record of key performance indicators by reviewing the bill value and basket size of the consumers. This gives us an overview of the fast and slow moving products. Along with this, we also measure the season wise quantity sold to understand the way a specific style sold in the previous and current season.
Online retailers offer whopping discounts with sales going on throughout the year. How different is the EOSS at a physical retail store as compared to the online EOSS?
Online EOSS lacks the traditional way of shopping which involves touch and feel a product and trying it on before purchasing. The categories of customers who shop online versus the customers who shop offline are different. EOSS at physical stores attract online shoppers and potential buyers to the brick & mortar stores and provide them with the complete in-store shopping experience and result in higher conversion rate. This plays a key role in increasing top-of-mind recall of the aspirational brands in the minds of the consumers.
How are the promotional initiatives planned for this EOSS?
In order to promote the SS15 EOSS we have a series of print ads in the leading newspapers in the cities that have our store presence. Also we have weekly SMS blasts for all the loyal customers. Digitally, we have e-mailers sent to our subscribers along with the promotions on the social media handles to our fans and followers.
How have you promoted your EOSS through social media? What strategies have you used for the same?
We have a strong presence on all social networking sites like Facebook, Instagram and Twitter. We indulge in media spends targeting the cities we have special discounts running on special days. Also, on the whole during the EOSS period we have a constant ads running on Facebook to target new fans and followers. The strategy is to showcase the products and their discounted price since the audience is highly discount centric during the EOSS month.
What has been your discounting strategy for this EOSS?
We have different discount structures for weekdays & weekends. Aggressive discounts on womenswear & menswear helps in attracting consumers from wider demographic range. Another tool we use is that we participate in Flat 50% events organized by malls.
For your brand, how this season of EOSS has fared till now?
This EOSS has been very good in terms of sales and stock liquidation. We have achieved all monthly budgets up till now and also achieved healthy growth over last year's monthly sales.
What new strategy have you adopted this season which was not present last season? What benefits did you received out of it?
This season we have participated with all our partnering malls on their special discount days wherein our store is on exclusive flat rates. This has given a tremendous boost to the sales of the respective stores outdoing the last season.
What's the future of such sales strategy?
For Being Human Clothing, the future of such sales strategy aims at increasing foot falls in the stores and converting aspirational customers into loyal customers for the brand.
What changes have you roped in with reference to technology in retail? Are there some changes in usage of technology during EOSS as compared to normal times?
Being Human has adapted an in store engagement platform which helps a customer to combine online and offline experience in the store. A first of its kind, through the Match software a customer can easily browse through the inventory, match-and-create looks, search and discover new styles basis on color, product or SKU, find the product availability in the next nearby store and also share with friends for feedback via email or Whatsapp before making the purchase decision. This technology is served on a large touch screen device (27"x32") for an enhanced and hassle free customer experience.
For the brand, this device helps the Fashion Consultants (FC) on the shop floor immensely during sale period. They can attend to more customers, cross sell and up sell more easily by the help of digital mannequins. By creating 'looks' they can address to more customer queries and preferences, assisting in pushing the average basket value. This platform has also resulted in quick trials and quicker check out and accounts for approx 15% of the sale in-store. Additionally, it has assisted various departments such as Merchandising, Marketing and Operations in getting insight about consumer behaviour, preferences, categories, combinations and pushing offers amongst others.