Consignment Initiative
Creating a new method to reach clients when coming into a store is no longer an option
OVERVIEW
The project was in response to post-COVID challenges and the growing trend of online shopping. Focusing on bringing an intimate and elevated shopping experience to the clients who no longer frequent physical stores or reside remotely.
Role:
Creator
Team:
Senior Regional Director, Store Director, eCommerce Team, Omnichannel CRM, President, Vice President, Human Resources
Duration:
July 2021 - Present
Skills:
User Research, Competitive Analysis, User Interview, Usability Testing
BACKGROUND
The Significance of Consignments in Luxury Retail
In providing clients with the opportunity to try on more products in the comfort of their homes, alleviating hesitations often experienced in stores. This model tends to result in higher units per sale, aligning with the successful concept behind subscription services. Additionally, it addresses concerns about the impact of frequent purchases and returns on clients' cards, ultimately benefiting store Key Performance Indicators (KPIs).
USER RESEARCH
Qualitative Interviews
Interviews helped define my users and identify their needs and struggles. Based on the responses I added categories that are necessary for all departments to track success.
Key Participants
Operational Managers/Senior Stock Controllers: responsible for overseeing all product movements in and out of stores.
Store Directors: tasked with integrating the new platform into their sales teams.
Omnichannel Operations Manager: oversees regional operations and provides performance reports.
Senior Director of Retail: reports sales outcomes to executive leadership.
President/Vice President/Human Resources: holds the authority to approve, fund, and drive forward essential initiatives.
Main Insights
USER PERSONA
PILOT ROLLOUT
I initiated the program at the two flagship stores in NY
After developing a mockup tracker based on interview insights, these locations are projected to yield the highest revenue, making them the initial testing grounds for the program.
PRESENTATION
Adjust, Update, and Next Steps
After collecting data over the following six months, I presented the results to various directors, notably the VP of the Americas, President of the Americas, and Head of Omnichannels. The positive revenue outcomes indicated a projected annual growth of 2-5%. I sought additional funding and support to expand the implementation across the rest of the Americas and eventually into Europe.