Tailored Brands Sees $3M in incremental revenue increase

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 products, 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, the standards for customer relationships are set differently in e-commerce. For DIrect-to-Customer (DTC) brands, the distinction in online shopping experience is formed by merely only one key element, delivery! And, the reason for that 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.

Having a wide network of nationwide stores and 2 DCs, Tailored Brands possess the ultimate advantage to  providing faster deliveries to meet their customers expectations. Being well aware of this strength, Tailored Brands decided to display EDDs on their websites to deliver upon the customer’s expectations as well as to increase conversions.

In their initial approach, Tailored brands displayed delivery estimates based on the average of total delivery time with some added margin to maintain a positive experience. However, showing a delivery time of seven days, while it actually takes only five, leaves a lot of potential in between to make a conversion for the customer who is looking for a faster delivery. Soon enough, Tailored Brands decide to take advantage of the opportunity of conversion by harnessing the power of multiple fulfillment locations. But, they needed technology! When they looked for it, they found FenixCommerce.

FenixCommerce is an AI and ML based technology, capable of displaying EDDs on every stage of the buyer’s journey with providing different carrier services and rates at the checkout. The powerful ML algorithm optimized for providing the fastest delivery estimate from the nearest fulfillment location is a proven conversion driver for customers.

Fenix powered EDDs based on the fulfillment location and available SKUs, is a perfect solution to harness Tailored Brands’s logistical advantages. With more than 1300 store locations, Fenix AI was able to set the accurate delivery expectations for the last minute buyer as well as ahead of time buyers, increasing conversion by 5% for the Tailored Brands. Moreover, delighted customers seeing the estimated delivery promises, encouraged themselves to buy other necessary items to get their perfect look, increased the average order value by 2.9% for the Tailored Brand.

The power of artificial intelligence and machine learning utilized to meet the customers expectations added an incredible amount of value to the existing infrastructure of the Tailored Brands, resulting in a  $3M increase in online revenue.