The coaching page aims to guide the store in achieving its goals, whether they are daily, weekly, or monthly. By using artificial intelligence to create an intelligent panel of similar stores, the store is continually coached in real-time by the performances of the top performers in its group.
In this page, the store will find essential data for a real-time overview, accompanied by product recommendations with their potential gains. This enables the store to better align its actions to reach its goal.
The page is structured into 8 sections:
o Dashboard
o Planning
o Estimated Final Revenue
o Recommended Actions
o Quick Access to Recommended Actions by Markdown, Department, Themes, Best
o Department comparison with the panel
o Badges
o National Ranking
1. Dashboard
The dashboard allows the store to assess its real-time situation on key performance indicators :
· Revenue: Sales are integrated every 15 minutes (this timeframe may vary depending on the brand). As sales are integrated, the store visualizes the achievement rate of its goal and its trend.
· Goal: This is the daily goal to be achieved. At the beginning of the day, this objective is broken down into sub-objectives, allowing the store to visualize the three action levers contributing to goal achievement:
o Transactions
o Unit Per Transactions (UPT)
o Average Transactions Value (ATV)
· Estimated Final Revenue: This is the estimated landing of turnover at the end of the day. This information becomes accessible as soon as sales reach a sufficient level to estimate this final revenue.
· Conversion Rate (CR): The store visualizes in real-time the realization of its transformation rate, compared to the average of the panel of stores to which it is attached.
2. Planning
The planning offers a detailed view of goal achievement, hour by hour, based on an analysis of the store's history and trends.
In this graph, the hourly conversion rate (CR) is highlighted, as well as meteorological information.
3. Estimated Final Revenue
This graph reflects the evolution of the dynamics. By memorizing the estimated final revenue hour by hour, the store can follow its dynamics throughout the day.
This graph allows real-time monitoring of observed trends hour by hour compared to its goal, represented by the green line.
4. Recommended Actions
To improve store performance, the approach is to identify potential revenue optimization levers and assess possible gains. The purpose is to provide real-time assistance to the store.
The process begins with the calculation of a panel.
a. What is a Panel?
The panel is a grouping of stores that share similarities in terms of size in square meters, goals, geographical location, weather conditions, and other criteria specific to each brand.
These criteria are prioritized based on their importance and impact on turnover. A store may differ on a particular criterion while remaining consistent on others.
Thus, the panel is constantly adjusted in real-time to maintain optimal relevance in comparing store performances.
b. What is the Purpose of this Panel?
The panel's constitution aims to identify best practices and explore the most profitable opportunities among the best stores in the panel to optimize the performance of the coached store and obtain information to increase revenue.
The search for best practices revolves around four major axes:
o Markdowns
o Department
o Themes
o Bests
c. How to analyze detected opportunities?
By clicking on each axis, the store can explore the recommended opportunities.
In this screen, a comparison is made between the store and the best in the panel on several key points: service level, quantities sold, product score. Thus, the store visualizes the department, markdowns, themes, and the best-performing products in the panel vs. its store.
What is the Product Score?
The product score indicates a customer's appeal for a product and its triggering effect. It consists of a score from 0 to 10 that gives the sales potential of a product.
The triggering product is the item that immediately captivates the customer and prompts them to start shopping, thus breaking their hesitations.
The score is accompanied by an icon qualifying one of the 4 types of appeal: Star, Complementary, Niche, and Bad.
Star products are the products that have an above-average sales potential (> 5) AND that trigger of the purchase. In this they influence the CR and the Traffic. The best star products (> 8) will qualify as a star gold. | ||
| Complement products are the products which have an above average sales potential (> 5) BUT which do not trigger the act of purchase. They are therefore complementary products. In general they are complementary to one or more star or niche products. In this they influence the average Basket. | |
| Niche products are products that have a lower than average sales potential (<5) AND that trigger a low act of purchase. These are products that are too segmented to generate sales volume. They can be products that are too popular, too fashionable, too expensive, addressed to a community that is too small among your customers (little known licences or out of interest of your customers). A company can purchase them voluntarily, but not controlled they are a source of residual stock. | |
| An offer with a BAD score is obviously problematic. This can be natural for outlets or end of season. |
What is the Impact of the Score in Evaluating Gains?
The star product has a strong influence on the Total transactions (CR), impacting the entire basket, including the main product and its complements. The gain calculation will be based on the Average Transaction Value (ATV) of the panel.
On the other hand, a complementary product is associated with a star or niche product, and its potential gain is calculated on the panel's AUR (Average Unit Retail).
d. Product Information
From the "Detail" button, the store can access the details of the product:
o Store stock (On Hand, in Transit, and On Order)
o Warehouse stock
o Nearby store stocks
o Department complementary: These are the department of products associated with the analyzed product and the IV effect on the basket.
o Sales distribution by age group
5. Detailed Recommended Actions
This screen provides the store with immediate access to recommendations, ranked by importance, highlighting opportunities offering the most gains.
6. Comparison of Store Department Performance with the Panel
This cartridge allows seeing the contribution by aisle of the store in turnover with the panel.
By clicking on an Department, the store has access to the comparison vs. the best in its panel.
7. Badges
Badges are additional objectives specific to the brand. The store will be able to track the achievement of its objectives in real-time.
They can be of two types:
o Product objective
o CRM objective, e.g., identification, creation, double opt-in
8. National Ranking
This is the top 10 stores in the country with the best real-time sales.
