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Maurits Jansen on Using Image Recognition and Data Science to Enhance the Swarovski Customer Experience
- 1. MAURITS JANSEN MANAGING DIRECTOR SWAROVSKI BENELUX & NORDICS
- 2. Passion for fashion and retail industry International consumer goods business Marketing & Economics Leadership, developing brands, consumer future MAURITS JANSEN MANAGING DIRECTOR Swarovski BENELUX & NORDICS
- 3. SWAROVSKI IS NOT ‘JUST ANOTHER RETAILER’ EUR 3.05 billion revenue Approx. 30,000 employees Approx. 3100 stores world wide
- 5. A touch of glamour, yet within reach Heritage and mastery On trend Responsible Imaginative Vigorous Passionate THE SWAROVSKI BRAND
- 7. What Target consumer Distribution priorities Product portfolio Brand strength Channel mix Assortment structure Idea to shelf process Consumer engagement Consumer Product Channels Digital Footprint
- 8. Profitable growth & higher consumer satisfaction 8 Unique, consistent consumer experience Commercial smartness and efficiency OUR GOAL
- 9. Digital savvy consumers 24 hrs online Personalization Omni channeling Convenience shopping THE CHALLENGE: A CUSTOMER-CENTRIC RETAIL APPROACH
- 10. STORE PRODUCTIVITY MERCHANDISING EXCELLENCE RETAILING EXCELLENCE OPERATIONAL IMPROVEMENT ‘Big Data: business relevance you can’t see but with the right technology you can!’ FROM TOP DOWN TO BOTTOM UP APPROACH
- 11. CONSUMER PURCHASE FUNNEL Product: coverting meaningful input to relevant output Media: creating a constant dialogue with the consumer Speed to market: predictions on planning, production, buying and merchandising Loyalty: from consideration to purchase, from purchase to re-purchase How can data science help us to improve the customer experience?
- 12. WHAT HAVE WE IMPLEMENTED SO FAR? Predicting daily demand of 40.000+ SKU-shop combinations To minimize lost sales and redundant stock at end of season Business value Consumer value 19.1% out of stock decrease for best-selling products Increased shopping experience: match between assortment and customer needs on a local level No old season products in store 7.5 % increase in turnover 21% stock level decrease for slow moving products Sales of slow moving products not affected
- 13. IMAGE RECOGNITION: THE NEXT STEP IN DATA SCIENCE WHY ARE PICTURES SO IMPORTANT? People can easily picture themselves owning the product Makes the product much more tangible More value is attached to the product
- 14. IMAGE RECOGNITION USED TO PREDICT CUSTOMER’S TASTE ‘Nowadays most intelligence is focused on textual data, but consumers are focused on images. For taste sensitive products this can be enhanced with image recognition, because it is hard to capture style related elements and product feel in product characteristic tags.’ THE ADVANTAGES OF IMAGE RECOGNITION
- 15. Brand: Swarovski Type: Remix Bracelet Manufacturing year: 2017 Color: Blue Materials used: Rose Gold Price: 69€ Usually available data Analyzing pixels to detect color Analyzing surrounding pixels to detect shape Calculating on images But what about shape or style? HOW DOES IMAGE RECOGNITION WORK?
- 16. BASED ON THIS PIXEL DATA TASTE CLUSTERS ARE CREATED THAT REPRESENT SOMEONES TASTE
- 17. As input for design for new products, to predict the success of the introduction in advance HOW TO IMPLEMENT THIS IN THE FUTURE OF RETAILING Recommendations of new product introductions, by prediction which customers will like them most. Algorithms that replicate store representatives by getting an accurate grasp of the consumer’s taste Quickly make an offer that matches individual needs Offline in combination with VR
- 18. THE FUTURE OF RETAIL ‘The online and offline environment will be intertwined to an extent that everything is connected and everyone online. This provides an abundant number of data and will bring the experience of the consumer to the next level’
Editor's Notes
- Welcome to the world of Omnichannel & Commercial Operations.
- The mission of OmniChannel & Commercial Operations is to build the bridge between the brand promise and the consumer experience by taking a validated concept to transmission across all our touch points. We are responsible to ensure that there is rationality and consistency across the business decisions taken by the company. Together with our partners across the business we aim to secure profitable growth and high consumer satisfaction through: Ensuring a unique and consistent consumer experience across all touch points. Driving commercial efficiency throughout the business.
- As a new division, let us highlight our responsibilities within the new CGB set-up.