Optimove Launches Retail Performance Benchmarking Platform
Relationship Marketing Company’s “Retail Pulse” Gives Retail Brands New Way to Compare Sales and Marketing KPIs Against Industry Peers
Optimove, the Science-First Relationship Marketing Hub, launched the Optimove Retail Pulse, an industry benchmark platform for online Fashion, and Health and Beauty retailers. The Retail Pulse, which includes analysis of over two million transactions and counting, enables retailers to accurately assess their own sales and marketing performance against industry-wide aggregated key performance indicators.
Retail Pulse is a free-to-use, interactive benchmark platform that will be updated monthly with refreshed data and additional brands to expand the report’s insights. Marketers can gain a clearer understanding of how their KPIs compare against the rest of their industry, as this data enables a deeper, contextual understanding of a brand’s own results and performance.
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The Retail Pulse currently comprises more than two years of data from retail brands across verticals including luxury fashion/retail, activewear and skincare, among others, and incorporates both eCommerce and brick-and-mortar sales. Reported KPIs include:
- Average order value
- Average monthly discounts
- Average percentage of mobile purchases
- New vs. returning customers
- Average time between first and second order
“Competition in retail is only getting fiercer, and in this field, the idea of ‘outperforming yourself’ isn’t enough. Without access to information about how a brand’s KPIs compare to the industry as a whole, any performance assessment is incomplete,” said Pini Yakuel, Founder and CEO of Optimove. “By facilitating this cross-industry benchmark platform, we are empowering retail marketers to make better strategic decisions and take action based on the comparative insight within the context of the entire industry. This has the power to up everyone’s game.”
Retail Pulse data is available within Optimove’s customer relationship marketing software, enabling users to take immediate action based on comparative analysis. The data from Retail Pulse will work in combination with Optibot, the company’s built-in marketing optimization bot, to give customers a true 360 view incorporating both customer data and industry norms and autonomously transforming that information into valuable and actionable insights.