A need for good quality data
LK Bennett is a British affordable luxury brand. Founded in 1990, it quickly became established as a leading fashion house offering complete wardrobe solutions for all occasions, with a vision of bringing “a bit of Bond Street luxury to the High Street”.
Like many retailers, LK Bennett was focused on good quality daily and weekly reporting. They were looking for a partner that could help them see the bigger picture and monitor changes when both the external environment around them changed and their internal strategies changed.
Transforming product and customer data into a powerful tool
Using Dressipi’s Data Insight Hub and applying a fashion-specific lens on every product and customer, LK Bennett was able to transform their data into a powerful asset that was genuinely actionable.
Dressipi and LK Bennett worked together and edited the interactive dashboards to guarantee that they would be right for their specific needs and enhance all operational parts of their business. They could quickly get started by simply adding some tracking onsite.
The dashboards are used for monthly reporting which has been particularly helpful for tracking top-level strategies for optimization. With the uncertainty of COVID and being light on data resource, this was key for LK Bennett.
“Having data insight that is directly linked to our order management system is much more reliable for order and product purchases than Google Analytics. The category tracking for products is also helpful as our business categories are not built in to all our systems, so out of the box groups allow us to segment our catalogue into the categories and subcategories that customer’s shop online, for example, ‘Dresses’ & ‘Fit & Flare’.”
25% increase of first to second purchase
The right fashion-specific data, used in the right way, will not only deliver revenue growth but will drive additional profit too. LK Bennett was able to experience this first hand by viewing the dashboard with customer segments over time, allowing the team to easily pinpoint areas for growth.
As with many other fashion retailers, a large proportion of revenue comes from a relatively small percentage of visitors. Typically, 60-70% of customers only buy once. If you can get a customer to buy a second order or 3rd order they are increasingly likely to become regular customers. So that first to second purchase metric is critical to ensure healthy growth within a business.
This has been a key metric for LK Bennett with the Dressipi dashboards. The Insight Hub allowed them to view the best product category to send at the most optimal time. They could then evolve their CRM strategy in line with customer behavior. The first to second purchase metric has improved by an average of 25% for the 4 months from December 2020 - March 2021.
“We’ve seen huge benefits in the ability to visualize our data. Dressipi’s Data Insight Hub provides the team with actionable insights and allows us to get on with the important parts without having to worry about trusting the data quality or reports as they are managed by Dressipi. As well as the team at Dressipi are quick to respond to the needs of our team, for building new reports or tweaking current ones.”