Success Story

Daffodil helps India’s largest fashion & apparel retailer to increase customer acquisition using insights from Power BI

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The Souled Store is a casual apparel wear brand, based in India. It is a manufacturer and retailer of a wide range of quirky apparel, mobile accessories, backpacks, badges, etc. that are designed with pop-culture themes like superheroes, movies, cartoons, TV shows, and more.

It is India’s largest brand for official, licensed merchandise for sports teams, comedians, and musicians with licenses from Disney, WWE, IPL teams, ViaCom18, etc. The company has 5 million monthly visitors to its digital channels (web & mobile).

  • 2X faster decision making with real-time inputs on performance
  • 30% of manual analysis eliminated with automated reporting
  • 10% increase in customer acquisition

Business Situation

The Souled Store had a web app as their digital source for selling products. In order to increase their market penetration, the apparel brand wanted to build their presence on mobile and thus, they were on the look around for a technology partner who could help them to build a mCommerce app from scratch. 

You can learn more about the project and its development journey through this case study

For cohort analysis of customers, the casual apparel wear brand reached out to Daffodil, who is already their tech partner for mobile app and CRM development. The Souled Store’s trust in team Daffodil owing to their previous collaboration and their seasoned business intelligence services were the two prime reasons for the apparel wear brand to approach the ISV again. Team Daffodil was entrusted to deliver the following to the Souled Store: 

  • Set up business intelligence services using the most relevant platform in terms of efficiency and cost-effectiveness.
  • Perform cohort analysis for various customer segments of the Souled Store and create interactive reports.
  • Understand the business, its requirements, and create the next steps to make BI services more beneficial for the apparel wear brand.

The Solution

In the first place, team Daffodil performed a requirement analysis to shortlist data & analytics tools to generate insights and reports. On understanding the requirements such as the number of users, support to data sources, data visualization, cost, etc., Power BI by Microsoft was chosen to be the insights generator tool. 

Using BI services, the apparel wear brand wanted to analyze customer acquisition and retention trends for its marketing and sales department.

Based on the requirements, the following insights were generated by team Daffodil. 

  • How many new customers are acquired in a specific month and if these acquired customers made any purchases in consecutive months? 
  • Customer pattern analysis based on gender and age was made to understand the brand traction amongst the customers. 
  • Customers who placed an order on the app returned the product and came back again to make a purchase. This was done to acknowledge the regularity and loyalty of customers to the brand.

These are a few examples of the types of results that were generated and visually presented in the reports. Due to business confidentiality, we are limited to revealing all insights that were derived using business intelligence services. 

By using Power BI for creating customer cohorts, the Souled Store team has been able to conveniently upload and share reports to different departments. By understanding the trends derived from the data analysis, the teams at the apparel wear brand are able to have a clear picture of their customers and design their future campaigns to have maximum ROI from them. 

The Impact

The customer insights derived from the Souled Store’s data using Power BI platform has been enabling their team to better campaign planning, customer retention, and brand positioning leading to a 10% increase in customer acquisition. 30% of manual analysis was eliminated with automated reporting, enabling the team to take quicker decisions with real-time inputs from the performance. The apparel wear experiences improved efficiency in achieving the targeted goals. In the next step, the Souled Store is planning to build a data warehouse that would help in the better organization of the data and thus improve the efficiency of business intelligence services for them.

  • 2X faster decision making with real-time inputs on performance
  • 30% of manual analysis eliminated with automated reporting
  • 10% increase in customer acquisition

 

Mumbai-based youth casual wear brand, The Souled Store, has raised Rs 75 crore in Series B funding led by Elevation Capital. The company has a large and near-cult “fan” base with 836,000 followers on Instagram and about 2 lakh daily visitors on the website and app. The company will use the capital for expanding its product portfolio on both licensed merchandise and casual wear.

-The Business Standard

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