The Timex Corporation wanted to improve execution at the retail outlet and gain a better understanding of consumer acceptance of their watch brands and styles. The company realized they had a misleading perception of SKU productivity: Though the largest retailers create the best results for shipment volume, that volume did not correspond with the product’s success in the marketplace. It was critical to measure purchases by end user, rather than by their concentrated group of retail customers.
Timex met with RW3 to determine how POS data could be used to measure consumption. RW3 developed a new process to leverage all retail customer POS data and effectively measure consumption among key retailers. A custom reporting and analytics dashboard integrated the various retailer streams of data and included data on the compliance of a common set of business rules used to measure, cleanse & calculate the data weekly, monthly and annually.
Implementing a new reporting and analytics process was the just the beginning for Timex. After consulting with RW3 on how to enhance the impact of their field merchandising team, it was determined that there was a need for seamless and dynamic account communication to the field. RW3’s streamlined communication solution optimized the Timex workflow process to meet consumption goals, deploy field teams more effectively to impact consumption, and to increase merchandising frequency at the most profitable retail outlets.
Through the adoption of RW3’s data integrated solutions, Timex was able to effectively measure consumption by retailer as well as improve account and brand planning. Additionally, the new solutions enabled Timex to provide clear, effective delivery of assignments and tasks. Having immediate visibility of execution issues affecting consumption allowed Timex to reduce out-of-stocks on all accounts by over 2% within the first 30 days. Net sales have improved across all retailers and Timex is experiencing incremental increases in ROI.