Macys.com improves customer insight with SAP analytics
New York – Macys.com has successfully deployed the SAP InfiniteInsight solution to help better understand customer buying behavior and optimize email and website marketing campaigns. The company had a number of variables to understand when it came to understanding likelihood of a customer to spend in a certain product category.
The traditional approach to predictive analytics would have required a number of data scientists on staff for Macys.com, as well as a predictive model for each product category. The SAP InfiniteInsight solution replaces the classic model creation process and allows Mcys.com to build 20 predictive models in a few weeks, a 15 times increase in productivity compared to the previous solution.
Working with SAP, Macy’s.com deployed SAP InfiniteInsight in three months and has since seen an 8%-12% increase in online sales through more targeted emails to registered users as well as visitors to the Macy’s.com website.
"SAP InfiniteInsight is a product that excels in speed to results," said Kerem Tomak, group VP, marketing analytics and CRM, Macys.com. "It’s scalable, concise and very efficient; it’s the reliable choice for predictive modeling. It’s my go-to product for everything that requires scales for my enterprise-level solution."
Kohl’s & Toshiba team up with Plug and Play
Kohl’s and Toshiba Global Commerce Solutions have partnered with Plug and Play for their newest program, Plug and Play Retail, to engage with startups that align with their developing technology initiatives.
Plug and Play Retail is the first brand and retail-focused startup accelerator bringing together a round-table of complementary partners to guide the direction of the program and help decide the startups accepted.
“We are pleased to announce Plug and Play’s partnership with Kohl’s and Toshiba Global Commerce Solutions and plan to leverage their deep industry knowledge and expertise to advise our investment strategy in the retail space. With their guidance, we will look to invest $25K-$100K in up to 30 retail-focused startups from around the world,” said Saeed Amidi, Plug and Play’s CEO and founder.
The Retail Accelerator is a 12-week program designed for early and growth stage startups. Qualified companies are developing solutions in areas like inventory management, forecasting, augmented reality and Beacon. Through tailored deal flow, themed workshops, and face-to-face interaction, Plug and Play Retail aims to enable corporations to engage with startups that may complement their respective suite of offerings or create new potential revenue streams.
Startups accepted into the program receive funding from Plug and Play Ventures, weekly mentor sessions with industry thought-leaders, and opportunities for potential pilot projects, all culminating at Plug and Play’s quarterly demo day.
"Through our commitment to innovation, Kohl’s is investing in the new technology, platforms and partnerships that will elevate customers’ connection with Kohl’s,” said Ratnakar Lavu, Kohl’s EVP of digital technology. “The way consumers shop and share is changing faster than ever, and we are staying several steps ahead to ensure their experiences with Kohl’s remain both easy and exciting."
Plug and Play Retail will be accepting applications until May 31 and the program begins June 30.
Chico’s to make Canadian debut with three stores in August
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New York – Chico’s FAS Inc. will bring its namesake brand to Canada, opening three stores in Ontario in August.
"We could not be more thrilled for the opening of the first Chico’s boutique in Canada," said Cinny Murray, Chico’s brand president. "I’m so excited to bring the women of Canada fabulous Chico’s fashion; this is an incredible growth opportunity for our brand."
Chico’s Canadian outposts will be based on a new store prototype that features a mix of curated finishes and materials based in warm tones with subtle animal prints. Design elements include iconic woven entry doors, luggage details on fixtures and layers of artifacts as props.
The locations include Square One Shopping Centre in Mississauga, Ontario; Upper Canada Mall in Newmarket, Ontario; and Mapleview Shopping Centre in Burlington, Ontario.
Square One is owned by Oxford Properties Group and Alberta Investment Management Corporation (AIMCo). Upper Canada Mall is owned by Oxford Properties Group and Canada Pension Plan Investment Board (CPPIB). Mapleview Shopping Centre is owned and operated by Ivanhoe Cambridge.