DXL Taps DynamicAction to Deliver Data-Driven Actionable Insights
Destination XL Group, Inc. (DXL), the retailer of men’s large and tall apparel, will roll out DynamicAction’s system to unify its data across the digital business and arrive at actionable insights faster.
The retail industry is challenged with the shifting economics of omnichannel, the complexities of consumer behavior, increased operating costs, declining store performance and “the Amazon Effect,” and successful companies are pushing themselves to re-imagine their businesses.
DynamicAction’s solution aligns with DXL’s digital vision and directive for authentic customer engagement, giving forward-thinking retailers like DXL the tools to combat increased pressure from industry disruptors by arming its experts with the ability to view the entire retail picture without being buried under deep pools of data. DXL needed an enhanced offering that allowed the retailer to quickly understand the immediate next steps necessary to create a customer-centric environment in order to drive higher sales and profits – and DXL found exactly what it was looking for with DynamicAction.
“At DXL, we are constantly looking for the best ways to make the customer’s buying journey seamless and frictionless. This requires going beyond the transactional elements and really understanding how our customers view our brand, and in turn, how we communicate our brand story to each individual customer,” said Sahal Laher, chief digital officer and CIO, Destination XL Group, Inc.
“With DynamicAction’s solution, DXL will gain the ability to unify our organization by analyzing all data points across channels to deliver a personalized brand experience," Laher added. "By understanding and leveraging our customer’s connected behavior, DXL will be able to continue building customer loyalty by ensuring every touchpoint delivers an enhanced experience for our customer.”
With DynamicAction’s solution, DXL will be able to deliver superior customer experiences by leveraging unified insights of:
- The Customer – DXL will now be able to understand its customers’ shopping patterns and identify which combination of products, promotions and customer profiles frequently drive increased purchases, which creates more opportunities for up-selling and increases customer lifetime value and profitability.
- Product – DXL will be working towards driving more full-price sales by accessing a holistic view of product exposure, profitability, fragmentation and conversion, enabling DXL to better understand inventory availability and identify areas of opportunity.
- Inventory – DynamicAction’s solution will provide DXL with a unified view of inventory and returns, flagging under-stocked and overstocked items and allowing the retailer to break down inventory positions and availability throughout its digital channels.
- Profitability – DXL can now leverage a data-driven view of profitability and profit influences, helping its team to quickly prioritize and take actions that drive towards business goals.
“As the retail industry heads into the holiday season, it is more vital than ever to have the specific tools and plans in place to leverage your organization’s unique assets to drive profits and create lasting customer relationships,” said John Squire, CEO and co-founder, DynamicAction. “With DynamicAction, DXL will have the ability to amplify the efforts and actions of their greatest experts to make their best people better, their smartest decisions faster, their customer understanding more powerful and their business more profitable.”
DynamicAction’s Squire and DXL’s Laher will present at Shop.org on Wed. Sept. 27 at 1 p.m. at Tech Talk Stage 4, for Tech Talk “Startup Of The Year: Radical Retail Reboot: Actions at The Speed of Amazon.” During this session, Laher and Squire will discuss how successful, innovative retailers are leveraging artificial intelligence to connect millions of data points from every part of their digital and physical business, empowering their human experts to make rapid, profitable decisions at the speed of Amazon.