Customers Who Trust Increff

A rapidly expanding fine jewelry brand, specializing in silver, gold, and lab-grown diamonds, it swiftly grew to over 100 physical stores, alongside their digital presence. This explosive growth, including international expansion, created complex merchandising challenges. As they ventured into gold and lab-grown diamonds, optimizing inventory became critical. To streamline operations and support further growth, they partnered with Increff for advanced merchandising solution.

Optimized inventory through the smart assortment planning for different sales channels. One of India’s biggest celebrity-endorsed fashion brands reduced overstocking by defining display norms as per the actual sales patterns. Using Increff Merchandising solution, it was able to identify and bet more on top performers at each store and exit buying of non-performing attribute groups. It also redefined stock requirements to optimize initial launch requirements across stores. Objective: To optimize inventory for one of India’s biggest high-growth celebrity-endorsed fashion brands. Solution: Smart Assortment plan for 4 different channels (~200 stores) was created Optimized the buying to exit the non-performing attribute groups and bet more on top performers at each individual store Reduced overstocking in bottom stores by defining display norms as per the actual sales patterns. Business benefits: 13% increase in full price sell-through 25% reduction in width at a channel level 12% improvement in ASP.

Lenskart, the tech-driven company that revolutionized the Indian eyewear industry, was looking for a merchandise allocation platform that allows them to: Operate centrally with a large network of retailers in India and other potential markets Automate daily tasks, including pre-season and in-season planning and execution for both just-in-time (JIT) and over-the-counter (OTC) merchandise. Increff merchandising solution, with its new feature of managing JIT merchandise, was integrated to handle multiple modes of operation for serving customers – from the store, the central warehouse, or the local distribution centers. Objectives: Demand-based assortment planning and allocation to establish a granular store-wise assortment plan and assign relevant SKUs to meet local demand Avoid loss in sales opportunities by filling the gap in demand requirement based on attribute performance Generate quantity recommendations at the store level based on True ROS(™) for OTC (Over-the-counter) merchandise to avoid any potential stockouts Solution: As it was a critical challenge, the brand started considering multiple global solution providers and big industry leaders. Increff proposed a POC (Proof-of-Concept) of its merchandising tool so the client could experience the impact before it finalizes on which tool to implement, across all stores. Within 4 weeks of implementation, Lenskart experienced clear improvements in ROS, store performance, and inventory accuracy by addressing some critical pain points like: Attribute Grouping -Identifying the right set of attributes for each category, with a hierarchy as per the customer decision tree. Automating the creation of attribute groups to look for replacement styles within the same group in case of stock outs and roll-ups. Smart Assortment Planning – Generating an assortment plan for each store at an attribute level based on historical data by correcting for stockouts and identifying the available gap in each attribute group at a store to allocate new merchandise. Replenishment/ Allocation based on store-style ranking algorithms – Placing the right style at the right store based on its estimated selling potential. Automating replenishment daily to fulfill the available gap by restocking fast-moving merchandise and allocating fresh merchandise to stores as a replacement for stockouts. Business benefits: An A/B test was conducted to demonstrate the benefits of implementing the Increff merchandising Allocation/Replenishment module. A & B sets have 90 identical stores each Impact observed (in 4 weeks period post-execution): Parameters Set A (With Increff Iris X) Set B (Without Increff Iris X) Inventory <13,000* >13,000 Store revenue performance 23% higher than Set B Per piece revenue 28% higher than Set B Merchandise sold 53% of dispatched merchandise 50% of dispatched merchandise *Even with less merchandise exposed, our merchandising tool was able to show a higher ROS and margins.