Black Friday is one of the busiest seasons of the year for retailers of all shapes and sizes. Months of forecasting, inventory, and promotion planning all come to life during what many refer to as the Super Bowl season of retail.
To avoid Monday-morning quarterbacking and to gain a competitive edge, retailers are turning to technology and real-time data to digitally transform the way they run their business. Today, Domo is excited to announce the new Domo Retail Suite, with two new powerful Domo apps to help retail employees—from store-level associates and managers to corporate-level merchandisers, buyers, and inventory planners—with true, real-time information.
The Store Performance App makes mission-critical metrics front and center for retailers for fast decision making and timely actions that improve outcomes. These metrics include period-over-period sales, profit, out-of-stock levels, customer satisfaction, labor budgets, loyalty program performance and custom KPIs used to drive store performance.
The Product Performance App brings inventory data to life, helping retailers maximize sales by understanding how products are performing at the district and store-level through easy-to-consume and explore visualizations. This new app allows retailers to immediately address poor performing areas of the business by promptly making appropriate changes in areas such as inventory management, pricing, promotional signage, merchandising, product placement, or staffing. Views can be governed to easily fit each user’s role, responsibility, and level of security.
Whether these new apps are used individually or in combination, the Domo Retail Suite builds on the power of the Domo platform to gives retail customers new ways to align their teams on the metrics that matter most to their business. Marysol Elorriaga of TELUS Retail Limited’s Channel Insights team says that Domo apps “allow our store managers to understand what’s really happening in their business and identify opportunities for training, coaching, and making adjustments to areas of the business such as staffing, that can have a big impact on store ROI, a key metric we’re all aligned behind.”
It’s no secret that the retail sector has seen some of the most intense competitive pressure over the past decade, with new entrants crowding the space and consumer expectations constantly shifting. To help our customers compete during the upcoming busiest season, as well as all year long, we’ll keep innovating where our customers need us the most. To learn more about our new Retail Suite, visit https://www.domo.com/retail-suite.