Jewelry Retailer Swarovski Increased Profits by 8% in Just 4 Weeks with Advanced Merchandising

Swarovski is an omnichannel retail brand under the umbrella of YALON — the official representative in Israel of the global Swarovski company. Their store includes a high-traffic online store and seven brick-and-mortar locations.

Goals

• Increase sales while reducing non-moving inventory
• Reduce non-moving inventory without disrupting conversion rates
• Implement an advanced sorting strategy that takes multiple parameters into account

The Challenge

Swarovski needed to push their slow-moving inventory without decreasing exposure to bestsellers and disrupting their conversion rates and sales. However, their store is run on Shopify, so they could only use one parameter (out of a limited list) to sort their collections. Additionally, their sorting was being calculated over 'all-time', preventing them from optimizing their non-moving stock.

Ultimately, they needed to shift their slow movers by pushing them to the top of the collections pages, without risking decreased exposure to bestsellers hurting their conversion rate and sales.

In a nutshell: Swarovski needed to shift slow-moving inventory without disrupting bestseller revenue and overall conversion rates.

The Solution

To ensure Swarovski was able to move non-moving inventory while also increasing sales, Kimonix built a new, tailored sorting strategy for each of their collections — using multiple advanced parameters simultaneously: sales, conversion rates, days to finish inventory, inventory levels, and margins. Every parameter was ranked based on the business goals of each collection.

Creating a balanced, multi-parameter sorting strategy enabled Swarovski to display and expose both bestsellers and slow-movers. After this, we let our data-collecting AI and automation do the work to optimize these collections.

In a nutshell: We tackled their challenge in three steps:

The Results

After four weeks, Swarovski achieved a 29% reduction in non-moving inventory, a 72% increase in daily sales rate of top 10% products by inventory volume, an 18% increase in overall conversion rates, and an 8% increase in profits.