Retail Analytic "in-a-box"

Launched in the Indian market in 2010, the unique “monthly subscription” delivery model of analytics has helped the product achieve immense traction and acceptance in the retail industry. To name a few, Gini & Jony, Viveks, Nalli Silks, Liberty Retail, Brandhouse Retails, Victorinox, Witco, And Design, Prakash Retail, B2B Retail, Utsav Fashion, Blacksoul, Kitten Shoes, Soch, V Mart Retail, Favourite Shop, MK Retail, Flemingo are select customers of BIRetail. BIRetail will be launching operations in the Middle East market around June 2011, and subsequently will be launching in the Europe and US markets in 2012.

CASE STUDY

Victorinox India Pvt Ltd is the Indian subsidiary of Victorinox, Switzerland, the sole manufacturer of the world renowned Swiss Army Knives. The Swiss Army Knives being manufactured by Victorinox Switzerland is a monoply of the company throughout the world.

The requirement

Victorinox India was gearing to grow its business in India, and they recognised that stable growth would stem from timely and accurate decision-making. The executive management needed access to historic data, presented in an easy-to-consume format, to make the right decisions. They needed such a system in place almost immediately, and BIRetail fitted in perfectly to cater to Victorinox’s needs.

Advantage BIRetail

Anish Goel, MD, Victorinox India justifies their choice of BIRetail, “BIRetail had a ready solution for Retail Analytics with an exhaustive library of reports, KPIs and Dashboards incorporating industry best-practices. The visual representation of information was instant-attraction for me. Their methodical approach to data integration was impressive, which got us live on the solution within a few weeks. The user interface hardly needed any training, and non-technical business users could intuitively pick it up without any induction.”

Benefits received

Gaining quick insights and improving performance:  With the ability to access to sales information by category, product levels, store, salesman, date/time of sale, along with other key attributes, no one has to sift through volumes of reports to find information.  They now rely on a core set of reports that provide flexible views of sales, inventory and customer data, and have the ability to quickly create new reports to answers specific business performance as they arise.

Accurate stock replenishment:  BIRetail revolutionised the replenishment process for Victorinox through its unique “Stock Days” algorithm, which automatically computes the realistic forward stock cover of each SKU at each sale location, daily, based on the most current sales trends. This also assists in balancing the stock holdings at each store location in sync with the demand at that location.

Increased employee productivity: Before implementing BIRetail, Victorinox IT team would spend days collecting data into spreadsheets for weekly reports. Now, it takes them minutes. With the IT personnel freed up from data crunching, they now focus on more strategic initiatives on the technology front.

Cost savings: BIRetail’s “out of the box” solutions delivered through a monthly subscription have saved Victorinox a significant amount of time and money.

Return on Investment: Since the investment is negligible, and benefits are immense, the RoI is enormously favourable.

2011 looks to be a year of more sustained and sensible growth. Retail organisations would need to restructure their strategy. Customer Loyalty will have to be won through superior product and service levels. Spend on IT systems to deploy technologies of today, including analytics, mobile and social media are going to be imperative to achieve operational excellence.

Niraj Jaipuria, Founder Director, BIRetail

The visual representation of information was instant-attraction for me. Their methodical approach to data integration was impressive, which got us live on the solution within a few weeks. The user interface hardly needed any training, and non-technical business users could intuitively pick it up without any induction.

Anish Goel, MD, Victorinox India