NEW YORK, May 23, 2016 /PRNewswire/ -- Ugam, a global leader in managed analytics, today announced the release of a new eBook, Analytics in the Sporting Goods Industry: Four Success Stories. The stories each demonstrate how analytics are being used by sporting goods retailers and brands to inform decision making and stay relevant in a rapidly changing environment.
"Increased competition in the sporting goods segment of the retail industry has pushed some retailers into bankruptcy and increased pressure on others to leverage data and analytics in order to stay ahead of the game," said Mihir Kittur, Co-Founder and Chief Innovation Officer at Ugam. "This eBook provides merchandisers, marketers, eCommerce, and channel managers with practical and actionable strategies adopted by their peers, in the areas of pricing, assortment, promotions and MAP compliance, to help them adapt and compete."
The eBook's success stories explain how some retailers and brands are:
Optimizing assortment: One of the largest omnichannel sporting goods retailers in the world is increasing conversions by as much as four percent through data-driven assortment optimization based on external e-demand signals and online competitive information, blended with its own web analytics and transactional data.
Improving MAP compliance: One of the world's largest and most respected brands for athletic footwear, apparel, equipment and accessories is preserving its brand value by collecting advertised, in-cart and shipping prices for hundreds of retailers that make up its online channels. Armed with this data, the brand has now reduced MAP violations by 66 percent and cut its response time to violations from a month to a week.
Improving price competitiveness: A global omnichannel sporting goods retailer is using competitive data and consumer e-demand signals, including Google search data, online reviews, ratings and social signals, to make pricing decisions that have driven a seven percent increase in margins for some categories.
Increasing web traffic and conversion through coupon campaigns: A leading online mass merchant in the U.S. analyzed past coupon campaigns, simulated new ones and identified a target group of consumers that would produce the best ROI, creating a campaign that increased incremental sales by 25 percent versus forecasted projections, increased ROI by five points, and boosted the response rate by 0.9 points.
Click here to download Analytics in the Sporting Goods Industry: Four Success Stories.
Ugam is a global leader in managed analytics that helps retailers, brands and market research firms transform big data into valuable insights. The company's unique managed services offering combines a proprietary big data technology platform with deep domain knowledge and analytics expertise to empower clients to make decisions that improve their business. For retailers, online marketplaces and brands, Ugam supports better merchandising, marketing and channel management decisions through the use of analytics. For market research firms and insight-based consultancies, Ugam offers a portfolio of solutions including end-to-end research operations, technology transitioning support, and data warehousing, visualization and reporting that enables them to better serve their clients. Five of the top 10 U.S. retailers, many of the world's largest brands and online marketplaces, and 13 of the top 25 market research firms work with Ugam because of its ability to deliver high-quality insights with unmatched customer experience.
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