NEW YORK--(BUSINESS WIRE)--As an exponentially growing pure online retailer for more than 500 men’s and women’s most coveted brands, REVOLVE keeps a sharp eye on profitability and providing extraordinary customer service in order to ensure strong financial health. To continue to thrive in this ever competitive market, they were led to Dynamic Action, the first-of-its-kind Big Data and Decision Intelligence Application from OrderDynamics, to connect the “critical dots” such as: item level exposure, loyal customers’ return rates, competitive pricing and optimal inventory levels.
Dynamic Action identified $2 million opportunity in the first week
In a single week, Dynamic Action identified more than $2 million worth of inventory that had minimal exposure, receiving only a handful of customer views and resulting in overstocks and low sell-through rates. Based on the recommendations of Dynamic Action, REVOLVE increased product views by 15% per week over a four-week period, resulting in:
- A 20% increase in inventory sell-through for products with no recent sales
- Nearly 60% improvement in return on capital (profit/cost of inventory) for overstocked products
FORWARD saw 65% improvement in sell-through of slow-moving inventory
FORWARD by Elyse Walker also saw immediate opportunities for improvement with Dynamic Action. The software identified nearly $950,000 worth of inventory that was in stock, but was not receiving product views on the website. As a result, FORWARD sent targeted traffic to these products through internal and external channels, increasing inventory sell-through of these products by 65%.
“In the new reality of retail, it is critical to have connected systems and data to allow you to take action on organizational disconnects immediately,” said David Pujades, COO of REVOLVE and FORWARD. “With OrderDynamics’ Dynamic Action product, we’ve been able to shift even further towards managing by specificity to provide our customers with the best possible pricing and experience while running an increasingly profitable operation.”
“Dynamic Action allows us to better guide the business at a strategic level, while also providing us with key action items that must be addressed to keep growing the health and revenue of our organization,” he concluded.
Dynamic Action is part of the full OrderDynamics product suite that helps retailers deliver seamless commerce experiences, with additional products that include a Commerce Platform, Stores – the In-Store Point of Service Application – and an omni-channel Order Management system. Read about all of the business growth REVOLVE and FORWARD experienced with connected and actionable data by downloading these full reports.
About REVOLVE and FORWARD
REVOLVE offers an unrivaled collection of the world's most coveted brands, providing the highest quality click-and-mortar shopping experience with impeccable customer service and amenities. Since its launch in 2003, REVOLVE has since grown into a virtual home for over 500 men and women's designer apparel, shoes and accessories brands including established brands such as J Brand, Current Elliott, to emerging designers including For Love & Lemons and Lovers + Friends.
FORWARD by Elyse Walker is the virtual home for more than 100 women’s design apparel, shoes and accessories brands, ranging from iconic maisons de couture to the latest emerging talents.
OrderDynamics is the world’s leading Big Data prescriptive analytics software company, built for enterprise-level retail. We believe that the order is the moment of truth – when profit can be made or lost. We help the world’s leading retailers activate commerce from first interaction to final fulfillment with our Dynamic Action, Commerce Platform and Order Management solutions and services. Thought-leading research firm Frost & Sullivan recently named our Dynamic Action prescriptive analytics solution as a “Big Data analytics solution for retail that is unlike any other in the market” and “critical for retail success.” We empower agile and intelligent commerce experiences so that our more than 90 clients, operating in 33 countries, including Neiman Marcus, Brooks Brothers, Speedo, Laura Canada, T.M. Lewin and Asda Direct, win at that very moment of truth.