Category: eCommerce Analytics

In the digital age, data is everywhere. Every click, purchase, and interaction in the eCommerce world generates valuable data. But having data is just the beginning. The real power lies in how you access, analyze, and use this data to drive growth for your eCommerce business. This is where data analytics comes into play. By experimenting with the available data, you can uncover insights that give you a competitive edge, helping you make informed decisions that propel your business forward.

What is Data Analytics?

Data analytics involves examining raw data to draw conclusions about the information. It encompasses various techniques and processes to make sense of the data you have on hand. In eCommerce, data analytics can reveal trends, patterns, and insights that are crucial for making strategic decisions. Whether it’s understanding customer behavior, optimizing marketing campaigns, or improving inventory management, data analytics is the key to unlocking the potential of your data.

The Importance of eCommerce Data Analytics

The eCommerce industry is booming, with sales projected to surpass $7 trillion by 2025. In such a competitive market, tracking metrics and KPIs is essential to understand your position relative to industry competitors. Marketers use analytics to demonstrate the return on investment (ROI) for campaigns, make better decisions to increase sales, reduce costs, and drive overall business improvements.

In this blog, we explore the different types of data analytics crucial for eCommerce businesses and introduce you to Tensight.ai, Tenovia’s proprietary analytical platform designed to transform data into strategic assets.

Types of eCommerce Analytics

Descriptive Analytics: Understanding the Past

Descriptive analytics involves interpreting historical data to understand what has happened. This foundational type of analysis provides essential insights through dashboards and reports. For instance, you can use data to generate monthly sales reports, track website traffic, and review customer purchase histories. Tools such as business intelligence platforms and web analytics tools are commonly employed to create comprehensive reports and interactive visualizations.

By utilizing descriptive analytics, businesses can track their performance over time and identify trends and patterns.

Diagnostic Analytics: Uncovering the Why

When businesses need to understand the reasons behind specific outcomes, diagnostic analytics is essential. This analysis dives deeper into data to uncover the root causes of past performance. For example, you might analyze high cart abandonment rates or sudden drops in sales. Data exploration tools and statistical analysis tools are typically used for this purpose.

Diagnostic analytics helps ecommerce businesses pinpoint issues and implement effective solutions.

Predictive Analytics: Forecasting the Future

Predictive analytics leverages historical data to forecast future trends. This forward-looking approach allows businesses to anticipate changes and prepare accordingly. For instance, you might forecast sales trends, estimate inventory needs, or predict customer lifetime value (CLV). Machine learning algorithms and forecasting tools are commonly used to make these predictions.

By predicting future outcomes, businesses can make proactive decisions to stay ahead of the curve.

Prescriptive Analytics: Guiding Actions

Prescriptive analytics goes a step further by recommending actions to achieve desired outcomes. This type of analysis provides strategic guidance based on data insights. For example, it can suggest optimal pricing strategies, personalized product recommendations, or marketing budget allocations. Optimization algorithms and decision support systems are typically used to derive these recommendations.

Prescriptive analytics helps businesses optimize their strategies for maximum impact.

Real-time Analytics: Staying Agile

In the fast-paced eCommerce world, real-time analytics is crucial for making immediate decisions. Analyzing data as it comes in allows businesses to respond swiftly to changing conditions. For example, monitoring live website traffic, real-time inventory levels, and live customer support interactions are essential. Data streaming platforms and real-time dashboard tools are used to process and visualize data instantaneously.

Real-time analytics ensures businesses can adapt quickly and effectively.

Customer Analytics: Understanding Your Audience

Customer analytics focuses on understanding customer behavior and preferences. This type of analysis is vital for creating personalized experiences and improving customer satisfaction. For example, you might segment customers, analyze feedback and reviews, or track customer journeys. Customer relationship management (CRM) systems and behavioral analysis tools are commonly used for these purposes.

Understanding your customers on a deeper level can lead to more targeted and successful marketing efforts.

Operational Analytics: Optimizing Efficiency

Operational analytics aims to streamline internal processes and improve operational efficiency. This type of analysis can lead to cost savings and better resource management. For instance, you might assess supply chain efficiency, monitor warehouse operations, or evaluate order fulfillment times. Business intelligence tools and operational management systems are often used to enhance operational performance.

Efficient operations are the backbone of a successful eCommerce business.

Marketing Analytics: Measuring Success

Marketing analytics measures the effectiveness of marketing efforts, providing insights to optimize campaigns and strategies. For example, you might evaluate the ROI of marketing campaigns, assess the performance of different marketing channels, or calculate customer acquisition costs. Marketing automation platforms and campaign tracking tools are typically used for analyzing marketing performance.

Effective marketing analytics helps maximize the impact of marketing investments.

Product Analytics: Enhancing Offerings

Product analytics provides insights into product performance and usage, helping businesses improve their offerings. For instance, you might track product page views, identify the most and least popular products, or analyze product return rates. Product analytics tools and user behavior tracking systems are commonly employed to gather and analyze product data.

Understanding how products perform can guide product development and marketing strategies.

Advanced Analytics with Tensight.ai

At Tenovia, we understand the critical role of data analytics in eCommerce success. That’s why we’ve developed Tensight.ai, our intelligent proprietary analytical platform. Tensight.ai, takes it a step further by delivering comprehensive, pre-analyzed data, which is at the heart of decision-making in eCommerce. Often, teams lack access to unified analytics across multiple functions, Tensight.ai addresses this by building Profit Maximisation & Optimization across the Value Chain.

 Key Features include: 

Merchandising: By leveraging advanced analytics, Tensight.ai helps improve sell-through rates, ensuring that products are sold more efficiently and reducing excess inventory.

eCommerce Supply Chain Optimization: Tensight.ai increases sales by providing accurate inventory forecasting, which ensures that the right products are available at the right time, minimizing stockouts and overstock situations.

Warehouse Operations: Enhanced sales are achieved through improved visibility and monitoring of seller metrics. This leads to more efficient warehouse operations, reducing delays and errors in order fulfillment.

Competitor Pricing and Discounts: Tensight.ai helps businesses analyze competitor pricing and discount strategies, allowing them to reduce unnecessary discounts and maintain optimal pricing, thereby protecting profit margins.

Unified Marketing: By integrating marketing efforts across various channels, Tensight.ai helps reduce marketing costs while achieving the same revenue targets, ensuring a more efficient allocation of marketing resources.

Monitor Ratings and Reviews: Tensight.ai offers tools to monitor ratings and reviews across all platforms, enabling businesses to address customer feedback promptly and improve their product offerings and customer satisfaction.

Channel Product P&L: With real-time views at a product level for CM1, CM2, and CM3, Tensight.ai helps reduce costs by providing detailed insights into product profitability, enabling better decision-making and cost management.

Brand.com Tech Metrics: By tracking and analyzing key technical metrics on brand websites, Tensight.ai identifies areas where there are conversion leakages, allowing businesses to make necessary adjustments and increase sales.

Benefits of Intelligent and Precise eCommerce Data Analytics

Intelligent and precise eCommerce data analytics provide a wealth of benefits that can significantly enhance various aspects of a business. Here’s how:

Enhanced Decision-Making: Data-driven insights enable businesses to make informed decisions based on actual performance metrics rather than intuition. This leads to more strategic choices that align with business goals and market demands.

Optimized Marketing Strategies: By analyzing customer behavior and campaign performance, businesses can refine their marketing strategies, target the right audience, and allocate resources more effectively. This optimization leads to improved ROI and more successful campaigns. 

Increased Sales: Analytics reveal patterns and trends that can help businesses identify new opportunities for revenue generation. By understanding what drives sales and how customers interact with products, businesses can boost conversions and increase average order values. 

Enhanced Customer Satisfaction: Understanding customer preferences and behavior allows businesses to tailor their offerings and improve the customer experience. Personalized recommendations, efficient service, and responsive support contribute to higher satisfaction and loyalty.

Operational Efficiency: Analytics provide insights into inventory management, supply chain efficiency, and warehouse operations. This leads to better forecasting, reduced costs, and improved operational workflows.

Competitive Edge: Leveraging advanced analytics tools like Tensight.ai helps businesses stay ahead of the competition. With a comprehensive view of operations and market dynamics, companies can adapt quickly to changes and seize opportunities faster than their competitors.

Implementable Solutions: Precise analytics transform raw data into actionable insights, highlighting areas for improvement and potential revenue leakage. This proactive approach allows businesses to address issues before they impact performance.

Strategic Growth: By identifying strengths, weaknesses, and market trends, businesses can develop strategies that drive growth. Analytics provide a roadmap for expansion, product development, and market positioning.

Conclusion

The ability to gather and analyze available data effectively is more critical than ever. By partnering with Tenovia and leveraging advanced analytics tools like Tensight.ai, you unlock a wealth of insights and gain a powerful ally in navigating the complexities of the digital marketplace. From understanding customer behavior and optimizing marketing strategies to enhancing operational efficiency and driving sales growth, precise data analytics is the key to thriving in a competitive environment.

As you continue to explore and utilize the full potential of data analytics, remember that the journey is ongoing. Stay adaptable, keep innovating, and let your data-driven insights guide you towards new opportunities and sustained growth. With the right tools and a strategic approach, your eCommerce business can achieve remarkable results and maintain a decisive edge in the industry.

In the fast-paced world of ecommerce and marketplace advertising, staying ahead of the game requires tools that not only simplify processes but also enhance overall efficiency. Amazon Drona commonly known as Amazon Advertising Manager (AAM), is a game-changing account management solution designed to transform the way advertisers navigate the dynamic landscape of all Sponsored ad products (SP, SB, SB Video, and SD).

On Drona (AAM) data is live and in-sync with both Seller Central Campaign Manager and the advertising console. Any modifications made in either interface—be it Seller Central, AMS, or Amazon Advertising Manager—will be instantly reflected in the other.

Drona (AAM) seamlessly aggregates data from both Seller Central Campaign Manager and the advertising console. This integrated platform allows for the application of automated rules to optimize campaigns efficiently.

Let’s deep-dive into the different features of Drona (AAM)

• Modify campaigns realtime: Well, for both Sponsored Products (SP) and Sponsored Brands (SB or HSA) campaigns, you can execute the following changes:

1. Activate or deactivate campaigns
2. Activate or deactivate adGroups
3. Activate or deactivate keywords
4. Archive negative keywords
5. Adjust campaign start and end dates
6. Increase or decrease the daily campaign budget
7. Increase or decrease the default AdGroup bid
8. Increase or decrease keyword bids
9. Introduce new custom keywords with different match types
10. Incorporate new negative keywords with different match types

• Label Management – Adjust critical campaign settings directly through Amazon Drona, that will seamlessly and automatically reflect in Campaign Manager.
  1. Associate/Dissociate labels to advertisers
  2. Filter advertisers on dashboard by labels
  3. Create new & manage existing labels
  4. Add advertiser with labels

SP – Auto Campaign Creation with Goals: You can create SP Auto campaigns by setting up ACOS Goal to achieve daily, weekly and monthly, in order to control the ACoS of the campaign. The Product can also be segregated on the basis of category and create different Ad groups accordingly.

• Automated Rules: Rules can be set for Campaign, Ad groups and keywords in order to optimize the campaign when a specific campaign, Ad group or keyword crosses a specific threshold
  1. Campaign Rule:
     1. Increase or Decrease daily budgets of out-of-budget campaigns i.e. low Budget utilization
     2. Increase or Decrease daily budget of good performing campaigns 
     3. Extend end dates or set No-End date for good performing campaigns
        
  2. Ad Group Rule:
     1. Increase or decrease default bid of good performance ad groups 
     2. Extend or Set – No-End date for good performing ad groups
  3. Keyword Rule: 
     1. Decrease or Increase bids for keywords based on customized rule
     2. Pause or unpause keywords based on set threshold 
     3. Archive keywords based on performance benchmark

• Product Dashboard – A recent addition to Amazon Drona (AAM), offering a comprehensive view of all products (ASINs) associated with an advertiser. This feature includes essential metrics like Customer Reviews, Lightning Deals, and more, allowing users to gain valuable insights into the performance of their products.

• Glance View Based Budget Planner – This determines the sponsored ads budget or required spending for an advertiser by considering the targeted number of total glance views expected. The planner relies on the target growth in glance views as a primary input. Using historical data, the planner predicts the glance views that would naturally occur organically (without advertising) and calculates the incremental glance views that would necessitate advertising.
• Share of Voice (SOV) Budget Planner – This budget planner estimates the sponsored ads budget (separately for Sponsored Products or SP and Sponsored Brands or SB) for an advertiser based on the target share of advertising impressions expected by the advertiser out of the total ad impressions in a sub-category. The planner then estimates the ad spend required to achieve that share of advertising impressions in a specific forward looking period.
• Spend Tracker – It helps in monitoring the performance of an advertiser (including ad spends and ACoS) against predefined  targets. Account managers can create spend trackers for a given set of advertisers to monitor their spends against the ‘Planned Budgets’ and their actual ACoS against the ‘Target ACoS’.
• Advertiser Overview – A feature on Amazon Drona which lets you see an overview of weekly and monthly performance trends for your advertiser across i) different sponsored ad products ii) campaign/ASIN/targeting/brand store iii) varied targeting/placement strategies iv) different categories and brands the advertiser owns v) performance benchmarks with category and vi) adoption of advertising features (e.g. product targeting, negative keywords, sponsored video etc.)

• Recommendations – Recommendations is a new feature on Amazon Advertising Manager/Drona which will readily surface optimization opportunities for sponsored ad campaigns structuring, budgets and bidding, keywords and targeting, ASINs, creatives and brand store. These recommendations will essentially point out the ‘improvement areas’ in the advertising accounts along with probable remedies to help AMs (i) improve advertiser ACoS, (ii) improve advertiser visibility and (iii) improve creatives and brand store at scale.

• Brand Keyword Performance – This feature provides the top searched keywords by customers in the selected category / sub category and gets refreshed daily. Along with the top keywords we also provide you with your brands organic, Sponsored Products and Sponsored Brands share of voice for the last 7/15/30 days. You can use this feature to identify top searched keywords (branded, competitor, generic) where your brand’s organic SOV, SP and SB SOV is low and consider adding them to your ad campaigns.

In conclusion, Amazon’s current support for view features in Amazon Advertising Manager/Drona is just the beginning. They have exciting plans to enhance experience with upcoming features such as recommended keywords, the identification of new ASINs for campaigns, Report Downloads, and more. If you’d like to explore and understand how you can scale your business through Amazon Drona, then drop us a mail at [email protected] 

E-commerce has come a long way since the early days of Amazon. Today, it is more complex and nuanced than ever before. In India, the e-commerce sector is growing rapidly, and will account for 7% of the entire retail market by next year – worth a whopping $60 billion. 

Every year, new trends and technologies emerge to define the e-commerce landscape. For retailers to stay ahead of the game, it pays to pay attention to these changes. While some transformations made by the pandemic in consumer psychology and behavior were permanent, others are momentary. Here are five predictions we’ve narrowed down for the upcoming year.   

1. Optimized operations and real-time data analytics will remain vital.

Data reveals everything. Smart retailers today use data to identify which products are selling well and which ones aren’t. They use it to improve inventory and supply chain management, and understand what customers are searching for – all in real-time. With data analytics, you can get actionable insights on essential focus areas to best determine promotions, sales, and discounts. Analytics can even get you ahead of the curve. If you know that a certain trend is going to become more popular in the next few weeks, you can anticipate higher demands and tweak your purchasing decisions accordingly.

2. Upselling and cross-selling will become smarter and more advanced.  

Smarter tools such as data analytics and artificial intelligence are a boon for cross-selling and up-selling. Almost two-thirds of smartphone users show increased tendencies of purchasing from a company whose apps and mobile websites offer recommendations. In fact, one out of two consumers have admitted to buying a product they never intended on purchasing, thanks to personalized product recommendations.

With better tools like these, e-commerce brands can now make more accurate predictions of consumer behaviors and patterns, and find smarter strategies to cross-sell and upsell their products. With highly accurate product suggestions as well as complementary items, your brand can do more than just rely on past data and search histories. 

3. Social shopping and live shopping will take a larger slice of the cake. 

Digital shopping is evolving every day. Social media and live streams are becoming a hotbed for e-commerce – with consumers and brands frequenting social shopping platforms such as Instagram Live, TikTok Live, TikTok Shop, Amazon Live, and Twitch to make purchases. Many consumers today rely on their social feeds to search for products, get recommendations, and make purchases. Gen Z in particular depends more on TikTok than Google for product search and recommendations. It is estimated that global sales made from social media platforms accounted for $992 billion this year. By 2026, this number is expected to reach $2.9 trillion! 

Why has this happened? As opposed to older generations, younger people prefer authenticity and trust when making a purchase. They would rather listen to a friend or an influencer they like and trust instead of an ad pushed by a company. So if you’re a brand considering foraying into social commerce, align your marketing strategy with the platform in question. What products would you sell? How would you sell them? Who are the best spokespeople for your brand? These are a few starter questions that will put you on the right path. 

4. With inflation on the way, research will become paramount.

Global recession forecasts are casting dark clouds over every industry and sector, and e-commerce is not immune to it. What does this mean for e-commerce businesses? Consumers will spend more time on research and less money on shopping. Brands that prioritize marketing and ensure that all the necessary product information and promotional content is easily searchable by consumers will gain an advantage. If you’re putting in the work to make decision-making an easier and faster process for the consumer, you win.

That’s not all. Since inflation comes with greater costs for businesses too, it might be prudent to keep an eagle eye on the expenses of digital fulfillment. Owing to the rising costs of shipping and delivery, e-commerce businesses will have to rethink their fulfillment strategy to optimize costs.  

5. Voice search will contribute more to e-commerce

When it comes to making online searches, voice commands are becoming commonplace. At the 2021 Google for India event, it was revealed that Indians use voice search at almost 2x the global average. In fact, queries through voice search are growing at a stunning 270% every year. In addition to the increasing penetration of internet access and smartphones, the reason for this quick adoption is the integration of regional languages in voice assistants. 

Voice search opens up new paths for customers to find products, especially when they’re not exactly sure what they’re looking for. While still in its nascent stages, voice search will become more advanced and more accurate. So if you’re keen on adopting the latest trends, it is wise to consider optimizing your e-commerce listings to voice search. 

Ready to get ahead of the trends and change the game? Get in touch with the experts at Tenovia today and take your e-commerce business to the stratosphere! 

The festive shopping season in India occurs during the latter half of the year, usually starting in August and peaking by October-November. Owing to the higher frequency of various holidays and religious festivals, purchases of apparel, consumer electronics, gifts, vehicles, furnishings, and other household items see a sharp rise. According to Financial Express, sales of consumer durables and electronics are likely to see a 30-40% increase in the months leading up to Diwali. 

While festive shopping used to be an offline and online activity till just a few years ago, the pandemic and the rise of eCommerce have tilted the scales. The Trade Desk conducted its Festive Pulse Survey and revealed that 68% of Indian shoppers are excited about festive shopping, with two-thirds planning to spend the same amount or more in 2022 as compared to the previous season. It’s not farfetched to claim that a majority of these consumers will use eCommerce platforms as their primary channel for product discovery and shopping. 

Here are a few salient points that should be considered ahead of the festive shopping season.     

• D2C brands are gearing up for a 200% boost: Given the growing momentum in the direct-to-consumer segment as well as the projected 21.5% increase in eCommerce sales in general, many brands are increasing their ad spends to augment sales. Many D2C brands are hoping to capitalize on the season’s revenue that can add up to beyond $9 billion. 

• Rapid adoption of eCommerce shopping: According to RedSeer’s report, there are two main reasons behind this – the accelerated adoption of online purchasing in the post-COVID era as well as the rapid growth of shoppers from tier-II cities across the country, accounting for almost 60% of the total consumer base. The report also estimated that the overall merchandise value could touch $52 billion.   

• The prominence of mobile-first journeys: RedSeer’s study also reported that smartphones will likely remain pivotal in eCommerce sales. Purchases on mobile phones are likely to contribute about $4.8 billion of gross merchandise value during the first week of sales. 

• Affordability and flexibility will spell growth: Due to the long-standing effects of the pandemic, consumers are more likely to be on the lookout for convenient and affordable schemes such as EMIs and buy now pay later (BNPL).  

The role of data analytics in ensuring a successful festive sale

In an ever-competitive eCommerce market, it is vital to gain a competitive advantage and stand out. Discount pricing and offers alone will not cut it. Thankfully, the mountain of data generated by eCommerce companies can be leveraged to discover business opportunities, manage increasing demands, fine-tune operations and marketing campaigns, and give consumers a seamless and hassle-free experience. And data analytics can do all the heavy lifting. 

A detailed analysis of customer and transactional data can show eCommerce brands how to: 

• Identify best-selling and in-demand products and promote them 
• Predict customer purchase patterns to boost sales
• Target the right consumer base and expand to potential customers  
• Deliver personalized shopping experiences 
• Leverage the power of predictive modeling and optimize pricing and eliminate glitches 
• Plan and expand infrastructure to handle larger than normal user traffic 
• Forecast demand, plan inventory, and anticipate additional logistics or operations needs
• Organize the supply chain and prevent stock-outs and delays 
• Automate operations in the pipeline to lessen the burden on employees 
• Check the readiness of the website and mobile app with A/B testing 
• Improve the payment success rate and convert abandoned shopping carts
• Use past experiences to inform planning and strategy in the next season  

With the right steps, data analytics can increase customer satisfaction and retention and ensure sustainable growth. 

Taking control of eCommerce analytics with Tensight

Tensight is a central eCommerce analytics dashboard that collects data from all major marketplaces and provides smart and actionable insights. A majority of eCommerce businesses in India are still dependent on manual spreadsheets, which could leave them slow to adopt and keep pace during the chaotic festive season. That’s why a centralized platform can change the game by helping brands achieve higher revenue and profitability. 

Tensight tracks and publishes over 180 metrics across functions and offers a detailed insight into pain points, bottlenecks, as well as action points. The dashboard offers data analytics across vital KPIs such as:

• Marketing 

Tensight’s unified marketing platform offers a plethora of information such as a brand’s share of voice (SOV), orders gained through paid traffic, competitor tracking, website performance, and the efficacy of coupons and offers. 

• Products

Targeting omnichannel cross-platform marketing and accurate targeting, Tensight provides an understanding of stock positions, product availability, product ranking, reviews, and ratings, as well as purchase patterns. It also offers cross-channel product ratings, customer sentiment analysis, and discounts analysis. 

• Pricing and promotions

In addition to promotion insights, Tensight offers competitor tracking, pricing analytics, as well as price monitoring to avoid disparity in pricing and discounts. 

• Supply chain

With Tensight, eCommerce companies can gain valuable insight into various metrics such as regional demand vs supply analysis, loss of sale, inventory health, forecast demand, stock replenishment, and warehouse out-of-stock percentages. 

• Sales insights and forecasts

Tensight displays top sellers by channels, categories, units, and sales. It also helps set and measure monthly targets, forecasts sales trends, projects out-of-stock scenarios, and provides timely intervention measures.    

With its rich 15-year experience in eCommerce, Tenovia’s Tensight has worked with over 20 national brands such as Paragon, Raymond, Soch, Tata International, Health & Glow, Indian Terrain, Specsmakers, and more.

Regardless of the size of your ecommerce business, it hurts the bottom line when you lose a sale, especially when it’s due to preventable reasons. And one of the most obvious reasons for a loss of sale is an essential part of the supply chain management pipeline – inventory planning.

Here are some common mistakes that ecommerce businesses make that can make them vulnerable to Loss of Sale.

1. Having too much inventory: Overstocking can cost your business, especially when you have too many units of the wrong product, leaving very little space for other products that would sell immediately. You may also end up spending more on storage, become vulnerable to your cash being tied up, and even risk expiration of your products.      

2. Not restocking on time: Running out of stock can happen for many reasons – lack of space, limited units, or fast moving items. The problem arises when you neglect restocking quickly. If your customer visits your business page only to see the ‘out of stock’ tag too often, you could lose a sale and a customer.  

3. Not investing in warehouse organization: It doesn’t take a math genius to know that any inefficiencies in your processes translate to financial loss. With inefficient warehouse organization, you may end up with inaccurate or delayed orders that often lead to refunds and lost customers.  

Good inventory management directly impacts your profits and cash flows. With the right measures in place, you can ensure that you only buy the amount of stock you need, minimizing stockouts and other inventory inefficiencies. It also allows you to carefully strategize every aspect of the supply chain – right from early production and stocking to the final sale.

So, what’s the answer? Inventory planning! 

At Tenovia, we work with businesses of all scales to solve inefficiencies and issues faced by supply chain teams, inventory management teams, as well as category managers to facilitate strategic transformations in the planning and replenishment processes. Perhaps the most useful tool in this endeavor is effective ROS – an in-house metric available on our analytics tool Tensight. Simply put, effective ROS is defined as the rate of sale of an article factoring the actual number of days it was available in the inventory. 

This simple metric allows us to create highly customized plans that can be tailored to different organizations and marketplaces on a style-level based on each channel’s performance. Once we receive the data from the metric, we break down the allocated inventory and create categorizations on the basis of warehouses, regions, etc. It was this metric that allowed us to transform inventory processes for leading footwear brand Paragon. 

How we helped footwear giant Paragon prevent loss of sale

Manufacturing over 14 Cr pairs of footwear each year, Paragon owns more than 12 fulfillment centers and a veritably large catalog of products. Given this vast inventory, planning then became a unique challenge. In addition to the diverse product range, Paragon had to keep in consideration the large number of SKUs as well as product seasonality. This often led to high out of stock percentages and consequently, losses in sales.       

However with our strategy, Paragon’s supply chain team was able to achieve seamless replenishment and minimize out of stock percentages. Their sales targets increased 15% month on month. The brand’s aged inventory also reduced by a whopping 37% in six months. During the same period, their out of stock percentage decreased from 20% to 7%. Today, owing to its streamlined process, Paragon is now an accredited Platinum Seller on Flipkart. All this just by tweaking the inventory planning process and no additional marketing. 

Revamp your inventory planning with Tenovia

If you too have been experiencing a gap in inventory management, you’ve come to the right place. Just like Paragon and a host of top brands across the country, we can help your business ace the inventory game with cutting-edge customized solutions. Not only will we help you figure out the gaps, we will also put in place processes that will address your unique challenges in the long term. 
Determined to never lose a sale to inefficient planning and management? The experts at Tenovia have got your back!