2020 Drives a European Data Evolution [EVENT]

by | Nov 4, 2020 | Business Growth, Data Management, Suppliers

More and more retailers and suppliers across Europe are seeing the value of shared sales and inventory data. They are unlocking new opportunities to boost sales, optimize assortments and reduce stock outs. As the pandemic hit the continent in 2020, data proved its value time and again. Data showed the retail industry what inventory was available, where it was located, and how to quickly pivot to meet the online expectations of consumers.

Crocs and Clarks Discuss the European Data Evolution

In October, SPS hosted an online event featuring Europe’s leading retail experts at Clarks and Crocs. They shared why they started using analytics, how their businesses are becoming more data driven, and how they used data in 2020.

The lively discussion was driven by our panelists, including:

Watch the recorded event here, including the lively Q&A of questions from the audience about metrics, privacy and more.

Prioritizing Inventory in a Pandemic

Megan Welch, Vice President Commercial and Merchandise EMEA, has worked for Crocs across the globe for 15 years. When the pandemic began, more consumers wanted the comfort of Crocs. This was good news for Welch and her team. But, the Crocs EMEA sales and supply chain teams had to move quickly. They used POS data analytics to manage the business when stores closed, and to analyze the momentum shift to digital sales. “Data was critical during this time as it showed us what was selling well, where shifts were happening and what changes in timing were needed. Data helped us as we quickly prioritized inventory to match consumer demand and keep our retailers well-stocked,” said Welch.

Accurately Forecasting Relies on Data, Especially in 2020

During the online event, Matt Carter, Customer Planning Manager EMEA at Clarks called 2020 the “year to forget.” But he shared that it was also the year when data’s ability to identify opportunities and mitigate risk was necessary. “COVID-19 confirmed the value of data to our company. SPS Analytics showed us how much stock customers were holding, so we could make more accurate forecasts and set accurate sales expectations with senior leadership,” said Carter. “We quickly saw which products were selling well and are using this data to build assortments for changing consumer preferences.”

View the recorded conversation on the European data evolution, including a live demo of SPS Commerce Analytics, here.

SPS Commerce Blog Team

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