Case study

Retail Insight solves a $634 billion problem for CROSSMARK

Data-driven decision science from Retail Insight enables crossmark to deliver targeted merchandising that eats into a global problem.

When CROSSMARK selected Retail Insight as its new decision science and data analytics partner, it embarked on a journey to unlock significant retail benefits for its current and future retail and CPG partners.

Retail Insight Solutions

A new partnership

CROSSMARK is a leading sales and marketing services company in the consumer goods and services industry that delivers smarter solutions to clients for faster growth in a highly competitive, ever-changing world. It has relationships with some of the world’s best known and most widely respected retailers and brands.

When its existing data analytics partner was acquired, CROSSMARK investigated the market to assess its options. It found the technology landscape had changed radically; this presented an intriguing opportunity to make some changes and find new ways of working with data.

After a comprehensive assessment of different suppliers and their capabilities, CROSSMARK chose RI as its advanced analytics provider, thanks in no small part to its international experience and deep proven relationships with major retailers; this was a level of value and market perspective no one else had, including one of the largest global retailers.

RI works with many retailers and has a long-standing relationship with one of the UK’s largest, which is a pioneer in ecommerce and home delivery. It was this customer relationship, hands-on retailer knowledge and experience that appealed to CROSSMARK.

The cost of unavailable stock

The issue of availability is of growing importance across retail. After all, customers can only buy items that are on the shelf, and while routing stock from multiple distribution centers may help keep your online sales moving, in-store product availability requires a more hands-on approach.

The cost to US retail of lost sales caused by items being out-of-stock and unavailable for consumer purchase is estimated as high as $634 billion1, according to research from IHL Group.

1. Retailers and the Ghost Economy: $1.75 Trillion Reasons to be Afraid http://www.businesswire.com/news/home/20150506005233/en/Research-Report-Retailers-Lose-1.75-Trillion-Revenue

The Retail Insight effect

CROSSMARK has formed a strong relationship with RI as its data analytics partner because of its strong US presence, global reach, and exceptional credibility borne out of its great customer relationships. 

“By leveraging our RI partnership, we are able to optimize our clients’ retail spend by targeting in-store merchandising activities that deliver the highest return on investment. This optimizes CROSSMARK’s retail efficiency, enabling our merchandisers to perform more value-added services that drive incremental sales and capitalize on promotional opportunities.”

“It’s a significant investment in time and resources from CROSSMARK because developing a new, innovative solution that will be an attractive proposition to other suppliers and retailers will be mutually beneficial.”

Bill Whitehead,

Senior Vice President, Walmart Team

RI has become an extension of the CROSSMARK team and the two will now be working closely and collaboratively on new solutions for the retail sector, suitable for retailers and CPG brands alike.

Summary

Together, RI and CROSSMARK helped tackle the $634 billion, industry-wide problem of lost sales.

Optimized retail spend by targeting in-store activities that deliver the highest return on investment.

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