New York – Online specialty fashion retailer Revolve focuses heavily on customer experience to stay competitive in a tough market. Revolve has selected Dynamic Action, the 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.
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 and nearly 60% improvement in return on capital (profit/cost of inventory) for overstocked products.
“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. “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.”