WISHFLUENCE CUSTOMER TRIPLES TRANSACTION GROWTH
BACKGROUND
Wishfluence partnered with an independently owned jewelry store in 2016 to solve the problems they were experiencing with wishlists. The store had been in operation since 1987 and employs around 10 staff. The store’s process was to collect customer information and record wishlists on a piece of branded carbon paper. Their customer would receive one copy and the other would be filed away. The store’s inventory management system/point of sale (POS) included customer management and wishlists. The customer information and wishlists were not being transcribed into the store’s POS. There were not enough work stations per staff, the sales staff did not have enough time to add the data to the POS, and not all the staff were trained on how to use the inventory management system where customer data is entered when not processing a transaction on the POS.
PROBLEMS
1. Wishlists were subject to human error and missing information.
2. Wishlists were not followed up on.
3. Wishlists were lost or hidden. Results: Lost sales and customers. A decrease in customer satisfaction and experience.
SOLUTION
Wishfluence developed a custom branded wish listing experience for sales staff to use with customers in real time. The mobile application launched in 2017. Each sales staff at the store has the store’s branded version of Wishfluence on their mobile device plus a store tablet. The sales staff work with the customers to enter data or create wishlists by trying on items and snapping pictures. Each photo is unique to that customer and can be shared. Follow up is easy with reminders or it can be automated. Integrations with inventory management systems/POS and business line texting services remove the requirements for transcribing data over to another system and provide a seamless experience for staff and customers.
RESULTS
Sales staff have customer information at their fingertips and on the sales floor. Sales staff are able to easily follow up with customers and close more sales. Customers feel even more included in the process by using the branded app in the store with sales staff. Customers feel taken care of and listened to. Customers can easily come in and buy off of a loved ones wishlists within minutes. Overall the beta store saw growth in 3 key areas. Average revenue growth per year increased by fifteen percent growing from 11% in 2013 to 2016 (before Wishfluence) to 13% in 2017 to 2020 (after Wishfluence). During that time, average customer growth per year doubled, growing from 2.5% to 5.6%, and average transaction growth per year nearly tripled, growing from 3% to 8%.
Wishfluence increases sales numbers.
Before Wishfluence our Beta Store would have increases in their number of sales per year then plateaus. After Wishfluence, our Beta Store saw increases in their number of sales year over year without plateaus. Sales numbers decreased in 2020 due to the pandemic, however sales never dipped below when they first started using Wishfluence at about 7,800 sales per year.
Wishfluence helped our Beta Stores maintain a yearly sales growth above the industry average.
Wishfluence Beta Stores showed sales growth above the industry average. Beta Store A saw an 8% sales growth in the first year and maintained sales growth above the industry average. Beta Store B had a sales growth similar to that of the industries before using Wishfluence. With Wishfluence, both stores saw less of a decline during the pandemic when the industry was down 94% on average. They continued to experience sales growth above the industry average after the pandemic. Wishfluence provides consistency for your sales staff to maintain those customer relationships throughout seasons and broader changes.
Note: These increases in growth were observed in our beta store which is doing all the traditional marketing and advertising strategies such as digital, print, store events, sponsorships and charity work in addition to using Wishfluence and adding an average of 8 items to Wishfluence a day. Individual results may vary.
