Market Comittee: building a sustainable profitability of its retail business, the success story of Lacoste and WINWORKS
The rapid currents of the retail industry can be a tough one to navigate without the proper tools. Throughout the greater part of 2015, Winworks has been the compass for Lacoste Japan to steer their way to better market positioning by creating sustainable retail profitability. On February 26, 2016, the President of the Market Committee, Philippe Jardin welcomed Patrick McDermott, retail analyst at Lacoste Japan, and Kuniaki Watanabe, Founder and Chairmen of Winworks, to present the fascinating and fruitful collaboration between the two companies.
Patrick McDermott began by explaining how Winworks tailor-made their IT solution to fit the specific needs of the apparel brand in Lacoste. Specifically on how to match the incoming demand (traffic) with the supply on-hand (staff). He explains how accurately matching the two can reduce wasted expenses as well as opportunity cost – essentially optimizing productivity.
Since the start of the two companies’ collaboration in October 2014, Winworks’ solution has provided Lacoste with very sophisticated staff scheduling patterns for 20 different stores. The Winworks system takes into consideration the customer landscape (e.g. traffic volume, average spend), the type of personnel (e.g. staff skill, language ability), and the level of service expected at each store when generating the staff shift patterns. As a consequence, the 20 Lacoste stores have become more profitable thanks to a reduction in wasted personnel cost and missed opportunity cost. This success story was recognized by the JIIT (Japan Institute of Information Technology) and Lacoste Japan became the first apparel brand to ever be awarded the IT Management Award.
Kuniaki Watanabe then took the floor and gave a more detailed perspective on Winworks’ IT solution. For him, workforce in the service industry should be seen as an asset rather than a cost. Winworks’ system helps companies shift viewpoints and provides ways to better the current situation with the workforce available. He then goes on to present all of the advantages that Winworks can provide for a company, such as their patented fast computation model, the customizability of the system to fit any sector of business, and the flexibility of their system being able to exist and be available online as a management tool. Some of Winworks’ recent accomplishments include, helping increase the sales of a name brand boutique by nearly 6%, and reducing the excess work hours of a hotel by 13%.
This article is translated by WINWORKS through the courtesy of CCI France Japon.