Men's Wearhouse sees $3M in incremental revenue increase
CLIENT CASE STUDIES
Results Delivered by FenixCommerce
5%
Increase in conversion rate
$3M
Incremental Revenue Increase
CLIENT STORY
Tailored Brands is a leading omnichannel retailer, focused on helping people love the way they look for their most important moments. Well known for providing personalized apparel, Tailored Brand is built around the core value of best in class customer service, sharing it equally with its subsidiaries Men's Wearhouse, Jos. A. Bank, Moores, and K&G Fashion Superstore. Tailored Brands's ability to provide such a service comes from their vast network of stores and e-commerce website which also replicates the similar standards for customer experience as stores.
With over 1300 stores, Tailored Brands has gone above and beyond to set the highest standards in the industry for lasting customer relationships. However, for Direct-to-Customer (DTC) brands, the distinction in online shopping experience is often formed by one key element: delivery! The reason being is the way customers shop these days has changed. "Customers are no longer planning to shop for an event coming up in the next month. What they want is something that can be delivered today or the next day", said Chaitanya Pallapothula, CTO of Tailored Brands.
Chaitanya Pallapothula | CTO
"We chose Fenix because they have an innovative product, and the most important thing I liked about it is that it is backed up by AI and ML, it's actually self learning and self improving the algorithm. That is something we have seen and experienced in our test. We typically run any new idea as an experiment, and then we offer it in a segment of our customers, in this case we did a 50/50 test and in this case all KPIs were positive and it's a good success story"
VISIT STORE ►CLIENT OPPORTUNITY
With a nationwide network of 1300 stores and 2 DCs, Tailored Brands possesses the ultimate advantage to provide faster deliveries to meet their customers expectations. So, the company decided to display EDDs on their websites to meet this demand for faster deliveries and thereby increasing conversions.
In their initial approach with the Men's Wearhouse format, Tailored Brands displayed delivery estimates based on the average of total delivery time with some added margin to avoid late shipments. However, showing a delivery time of seven days, when many orders took only five days (and sometimes less), missed a lot of sales from customers looking for faster delivery. To increase conversion, Tailored Brands decided to harness the power of shipping from their store network. But that required technology smart enough to optimize which store location to ship from, for a fast, accurate delivery date for every order. And displayed before the customer buys. They found that solution with FenixCommerce.
FENIXCOMMERCE SOLUTION
FenixCommerce uses AI-based models and ML technology, to calculate EDDs at every stage of the buyer's journey, with shipping options and rates at checkout. The powerful and continuously improving AI algorithm, providing the fastest delivery date estimates from the optimal fulfillment location, is a proven conversion driver for customers.
Fenix powered EDDs, based on comparing real-time SKU quantity x location data against AI-models for Carrier performance, is a perfect solution to harness Tailored Brands' competitive advantage in logistics. Choosing from 1300 store locations, Fenix AI meets the accurate delivery expectations of the last-minute shopper as well as nearby on-time buyers, increasing conversion by 5% for Men's Wearhouse. Displaying EDDs also encouraged customers to buy more items, increasing average order value by 2.9%. Combined, driving a $3M increase in online revenue.
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If you're an eCommerce brand looking for a higher conversion rate, saving on shipping costs while providing a top-of-the-line delivery experience for your customers, then we are here to help.
