© Copyright Convert Group 2022
A leading retailer needed a way to better collaborate with brands and create an additional source of revenue in the process.
They noticed an increase in demand for insights from brand partners but they lacked the capacity to efficiently manage and fulfil requests.
The retailer felt that there was a bottleneck in resources, expertise and technology and needed a risk-free solution that could be deployed fast and with minimal effort.
Using Convert Group‘s innovative plug-and-play cloud platform eRetail Audit Marketplace, the retailer was able to quickly begin monetising its insights in a sustainable and scalable way.
Convert Group stayed on top of operations to deploy the platform in a matter of weeks.
Together with the retailer, the two teams worked hand-in-hand to improve internal efficiencies by leveraging the technology now available to them and onboarded key brand partners successfully.
There were 3 main factors that helped make this collaboration between Convert Group and the retailer a success:
In just 3 months post deployment of eRetail Audit Marketplace the retailer realised an incremental revenue of 0.2% of their turnover with a solid projection of 0.35% by the end of Q4 2022.
Already surpassed expectations for the 1st year of commercial operations, laying the foundations for success in 2023.
Another interesting fact was that the data marketplace was very well received by brands, fast. Sales and product teams have been actively discussing with over 25 brands and 82% either subscribed or secured a spot within the next 3-4 months.
The retailer’s commercial team working alongside Convert Group’s Customer Success managed to migrate 80% of existing agreements in just 4 months and even unlocked additional budgets from brands during Q3 2022 creating an uplift in revenue.
The retailer together with their brand partners also received extensive training in order to utilize newly available insights to enhance their collaboration and boost day-to-day decision-making using real-time data.
eRetail Audit Marketplace helped the retailer completely replace tasks such as data export, processing and transfer, data quality checks and reconciliations, insights and analytics reports and improved data sharing program promotion, client management and marketing activation performance data sharing.
This significantly boosted internal efficiencies which are directly reflected in the retailer’s Purchasing, Key Account Management and Business Intelligence teams.
Improved Internal Data Operations
of Turnover as New Incremental Revenue
Uplift in Revenue from Existing Agreements
Adoption from Active Brand Opportunities
Increase in Demand from Brands
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