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Wednesday, November 19, 2014

 

Talbots Improved View of Customer Preferences and Spending Habits | Retail News | RIS News: Business/Technology Insights for Retail, Supermarket Executives

By Jonathan Cheng

Talbots has improved its view of customer spending habits and preference through the use of tailored tests across promotions, merchandising, marketing and store operations. The women’s apparel retailer has entered into an agreement to license Applied Predictive Technologies’ (APT) software, including its Test & Learn® and Market Basket Analyzer platforms. The retailer will use the software to test and analyze key business initiatives including promotions, merchandising, marketing and store operations. Talbots joins several top women’s apparel retailers, including Ann Inc., Chico’s, Lane Bryant and Victoria’s Secret, which currently use APT’s software to accurately measure the impact of initiatives across the organization in order to harness key data and maximize ROI. “We believe that APT’s software will allow us to test and analyze key business insights,” Talbots CFO Mary Lynn Philips said. “Overall, the analyses generated from APT’s Test & Learn® software will provide us with informed clarity surrounding the effect of specific programs related to various marketing programs, promotional offers, merchandise strategies and capital investments. Having this insight will strengthen our confidence as we evaluate and implement new ideas.” Talbots will leverage the solution to identify which actions are most successful in improving performance and measure their impact on a test versus control basis. APT’s software enables organizations to analyze all of their initiatives, instead of just a select few, and offers a centralized platform, effectively providing companies with a 360-degree view of programs. “We are excited to be working with Talbots as they strengthen their analytic capabilities and further institutionalize testing,” APT principal Sarah Hinkfuss Zampardo said. “This partnership is a testament to our software’s ability to harness big data at the store, transaction and customer level, in order to isolate the true effectiveness of each initiative.”

http://risnews.edgl.com/retail-news/Talbots-Improved-View-of-Customer-Preferences-and-Spending-Habits96552