Lush Saves £1m Through Innovative In-Store Data Analytics
In-store data analytics helped Lush to save over £1 million over a two-year period thanks to a custom system devised by user-driven business intelligence [BI] firm QlikView.
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QlikView’s Business Discovery system has been used by employees across all areas of the company in order to provide relevant information on sales, stock, store and staff in order to improve in-store profitability leading to savings of over £1 million related to stock losses.
“As it is used by many different parts of the business, QlikView allows us to continually make insights into our company. Some of the shop managers have told us they have had their most profitable year ever because QlikView has brought together the data they need to manage their sales, their stock and their staffing. By pulling it together in one place for analysis, QlikView allows them to make the right decision,” said Scott Silverthorn, head of data services at Lush.
QlikView’s solution has been used across the entire company with everyone from the retail accounts team to the manufacturing department able to access real-time information.
The retail accounts team can look behind the numbers for every store to keep an eye on everything from ledgers, petty cash and other aspects to make sure the finances are as optimised as possible.
On the shop floor, managers and employees access hourly updates on sales figures as well as product stock to allow better decisions when it comes to ordering correctly.
In the manufacturing department, the stock in shops across the country can be monitored to allow the company to see where shortfalls could happen and source key ingredients ahead of time.
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Lastly, the payroll department can combine all the data from timesheets and pay systems in order to get a full overview of absences, staffing costs and where profits are made.
Image Credit: Flickr (John Catral)
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