Market Segment: Retail/Big Box
Services: Store Planning
Celebrating a 180-year heritage, Holt Renfrew is recognized worldwide for an inspired shopping experience. Holt Renfrew has become Canada’s destination for luxury apparel and accessories retail.
Holt Renfrew recognized that today’s sophisticated consumer demands a retail environment that puts the customer first recognizes their product preferences and understand their expectations of engagement. To optimize its store experience, Holt Renfrew wanted more insight into how the physical location of brands and merchandise affected their sales.
Holt Renfrew’s data from transaction systems were typically held at a low granular level and limited to sales by department, item and day attributes. While this data served as the basis for business measurements, it was not sufficient to provide the data intelligence that Holt Renfrew was looking for.
Holt Renfrew partnered with DedON to develop a data-driven store layout solution that allowed for regular resets based on current and past sales patterns to determine where merchandise will achieve the best customer engagement.
DedON created Autodesk Revit models for all brands and their locations in the store. Revit’s database structure allowed for 3D output and inclusion of a brand’s traditional sales data as well as its physical location in the store, brand space allocation, number of product facings in a display and shelf counts. By combining spatial and planogram data with point-of-sale information, the DedON solution allowed Holt Renfrew to easily transform numerical data into optimum store layouts that drive revenue growth.
Having a clear picture of each brand’s space allocation, merchandise capacity and physical location allowed Holt Renfrew to determine which brands to display and where, how much merchandise is needed and how quickly inventory will turn.
Holt Renfrew now also understands that it is not just the strength of the brand, but also the display location in the store that accounts for sales success. Holt Renfrew buyers are able to leverage this evidence-based information to negotiate most favorable terms with brands.