A premium, organic nutritional supplement brand needed a strategy to stimulate new trial and increase demand at Walgreens. Hockfield’s objective was to identify optimal stores for an Instant Redemption Coupon (IRC) program that would attract new users in underperforming markets while maximizing program ROI.
Case Study #3:
Leveraging Store Level Analysis to Optimize Sales
Hockfield Strategy
Planning:
Analyzed store level sales to establish performance groupings (Top, Middle, Bottom) and selected a mix designed to stimulate trial and demand in Middle to Bottom performing stores
Execution:
Proactively collaborated with Orgain, the Walgreens in-store service provider and Walgreens Demand Planning to ensure seamless execution and increase Test Store forecasts to avoid out of stocks
Program Evaluation:
Utilized Scientific Method to measure program impact on Test Store productivity, relative to that of “Control Stores"
Results
Summary: Test Stores outperformed Control Stores by 23% with Test Store productivity increasing 19% vs. YAgo, most notably within the desired target of Middle and Bottom performing stores
Top Performing Stores:
Test Stores outperformed Control Stores by 16% with Test Store productivity +2% vs. YAgo
Middle Performing Stores:
Test Stores outperformed Control Stores by 37% with Test Store productivity +47% vs. YAgo
Bottom Performing Stores:
Test Stores outperformed Control Stores by 18% with Test Store productivity +59% vs. YAgo
More Case Studies
-
Case Study #1:
Data-Driven Solutions to Maximize Growth
Hockfield knows continued success means regular, granular analysis of sales and stock data. Often this involves digging into store-level data to uncover the root cause of an opportunity. Through careful tracking, we identified a solid sales opportunity for our client DerMend® that was difficult to see from a 30k-ft view; it was certainly not one that would be easily picked up by auto-ordering systems. Hockfield found 253 stores, representing a small fraction of their total distribution that were characterized by strong unit sales and low average inventory on hand.
-
Case Study #2:
New Innovation Proposal
A startup premium men’s grooming brand with limited Walgreens distribution wanted to introduce a new product plus an entirely new product line alongside their two existing Men’s Shave products. Original Shave Cream had 93% distribution after three years, and newer Cooling Shave Cream had 20% distribution, with less than a year on shelves. Brand new Sandalwood Shave Cream and a full line of Beard Care products were unproven in the marketplace.