LVMH Brand Givenchy Gains Valuable Insight with Daily POS Reporting
The sales team at LVMH Fragrance Brands was at the mercy of a POS reporting solution with multiple limitations. They thought the status quo was sufficient until they heard about Accelerated Analytics and learned there was a better way. In a presentation to Dillard’s vendors, Accelerated Analytics Sales and Marketing Director, Jennifer Freyer, introduced the LVMH team to the power of our data analysis and reporting tool; that was 10 years ago and LVMH has never looked back.
Limited Data is SO Last Season
Sharon Kramer, Headquarter Account Executive for LVMH Fragrance Brands, was using another solution for POS data reporting and analysis that significantly limited her insight into how her brands were selling. In addition to having to wait several days for the data, Kramer and her team didn’t have access to historical data. Plus, the solution they were using only offered cumulative totals, and couldn’t break out the data by brand on a daily basis. Kramer had to spend several hours a week manually calculating the information she needed to distribute to her sales team. She was at the mercy of the limited information she had access to.
When Kramer learned about the robust and comprehensive POS data reporting and analysis that Accelerated Analytics could offer, she realized that she didn’t have to be at the mercy of a limited, inflexible tool – there was a better way.
Data Solutions as Unique as LVMH
With Accelerated Analytics, Sharon and her sales team at LVMH have “the knowledge that enables our people to set and drive goals on a daily basis. It’s the first thing I do every day. It takes five minutes to pull my numbers every morning and get them out to the field,” says Kramer. Key data that LVMH and their retailers can see each day by door, by brand, includes stock on-hand, out-of-stocks and sales to goal.
“Our Account Executives are so thankful they get daily sales because it can affect their success every day.”
– Sharon Kramer, Headquarter Account Executive for LVMH Fragrance Brands
Additionally, Accelerated Analytics provided LVMH with the ability to view historical data, which has allowed them to more accurately plan for promotions and seasonal selling by door.
The Payoff
Implementing Accelerated Analytics POS data reporting and analytics has paid off for LVMH Fragrance Brands.
• Kramer has greatly reduced the amount of time she spends collecting and distributing data to the sales team.
• The ability to predict inventory needs accurately with historical data allows LVMH Fragrance Brands to achieve their sell-through goals.
• The ease of viewing on-hand inventory saves time and money. For example, when a retailer calls to say a product is out of stock, Kramer says that 80% of the time she is able to see that the product is at the store and just needs to be located.
• Daily data by brand provides Kramer and her team with the detailed insight needed to set, focus on and achieve their goals
About LVMH
Moet Hennessy-Louis Vuitton, better known as LVMH, is headquartered in Paris, France and is a world leader in luxury brands. A major player in the perfumes, makeup and skincare markets, the Perfumes & Cosmetics division groups together major historic Houses as well as young brands with strong potential.