Client Case: How Dutch Omnichannel retailer ONLY FOR MEN increased sales season profitability using AI-Driven Price Markdowns
Learn how Dutch omnichannel retailer Only for Men was able to increase sales, substantially cut leftover stock, spend less time, obtain a +10% in revenue and +3% in margin during a sales season.
Only for Men: looking to create more impact with price markdowns
Only for Men is a Dutch fashion omnichannel retailer with 17 physical stores and a fast-growing webshop. The retailer saw its online store grow by a whopping 30% - 50% these past few years. Yet, the team also had to deal with increasing competition and the aftermath of Covid lockdowns. Finding new ways to work more efficiently and effectively was crucial for increasing profitability and coping with the challenges ahead.
That is why the team saw opportunities with regard to the use of price markdowns. They felt that it was hard to use them effectively, raking in revenue and margin where possible without leaving money on the table. And with the increasing number of items and opportunities to alter these price markdowns, they needed to find a way to work more efficiently without having to expand the merchandising team.
So, what the team lacked was a tool to assist the merchandising team in deciding what items to discount and at what level - both before and during the sales period. A tool that would make it possible to evaluate lots of items fast, monitor closely, and report clearly.
The results were immediately visible. The team at Only for Men saw an increase in sales, substantially lower leftover stock, less time spent, a +10% in revenue, and +3% in margin during the sales season.
Introducing the Crunch Analytics Markdown Optimization Assistant with results!
In a few straightforward steps, we introduced our Markdown Optimization Assistant. The team can now run and evaluate scenarios before the season, thus helping to guide organizational efforts (f.i.marketing). They can follow up on performance during the season, see adjusted price markdown suggestions, and take action where deemed appropriate.
The results were immediately visible. The team at Only for Men saw an increase in sales, substantially lower leftover stock, less time spent, a +10% in revenue , and +3% in margin during the sales season.
The tool provided perspective and helped the team to get more grip on the situation as they got better at getting the highest ROI out of inventory. That is why Only for Men decided to move forward and use the Crunch Analytics Markdown Optimization Assistant in upcoming seasons.
Download the Client Case!
Learn more about how Only for Men was able to work more efficiently and effectively, using AI-driven price markdowns. Download the client case here.