U.S. Jewelry Retailer Accelerates Digital Transformation Through a Self-funding Mechanism
Situation
A national jewelry chain with a strong brick and mortar presence wanted to double their sales in five years using digital as an accelerator. The client had a nascent digital team, stagnating ecommerce performance, and had recently made significant investments in digital and marketing technology.
A&MPLIFY was brought in as the client's digital transformation partner to diagnose their digital underperformance and accelerate their journey. The client was seeking to understand how to prioritize their investments to drive digital growth with an actionable plan detailing both strategic and tactical next steps. Additionally, the client wanted an activation partner to help them realize tangible dollars and advance the maturity of their digital capabilities.
Approach
- Conducted omnichannel capability assessment to diagnose current state maturity, leading to prioritization of value accretive initiatives and foundational enablers on a digital transformation roadmap.
- Performed comprehensive diagnostic across site (UI/UX), marketing channels, and marketing media mix to identify incremental value to self-fund the digital transformation.
- Created future-state omnichannel pricing and promotional strategy leveraging a qualitative and quantitative approach, resulting in recommendations that balanced CX and business value.
Impact
- $30-$55M in value identified across site, channel, and media mix optimization.
- 2-5 percent revenue and 0.5-4 percent gross margin uplift potential identified through future-state omnichannel pricing and promotional strategy.
- Five quick win initiatives identified on Digital Transformation Roadmap to drive short- and long-term value.
About A&MPLIFY
A&MPLIFY by Alvarez and Marsal accelerates growth and efficiency with artificial intelligence, customer experience and digital platforms.
Learn more: www.a-mplify.com
|
