The Vitamin Shoppe Elevates Performance In Over 700 Stores
Wellness brand, The Vitamin Shoppe, taps top analytics platform to unlock new efficiencies and drive sales.
NEW YORK CITY, NY. - January 19, 2023/ The Vitamin Shoppe, an omnichannel specialty retailer of nutritional products, today announced the results of its partnership with RetailNext, the leading analytics solution for brick-and-mortar retailers, to optimize staff scheduling, unlock data-driven efficiencies, and boost profitability. The timely announcement of TVS' achievements follows the world’s leading annual retail event, the NRF Big Show, which focused on how the retail industry can “break through” this year.
The Vitamin Shoppe deployed RetailNext’s paradigm-shifting platform across its network of over 700 stores, streamlining decision-making by putting comprehensive shopper traffic and store performance data at managers’ fingertips. Using RetailNext’s centralized data dashboard, The Vitamin Shoppe is overcoming labor shortages by maximizing payroll efficiency, and instantly surfacing the data needed to responsively optimize store operations and deliver ever-greater value for customers. The result: a significant improvement in payroll rate to sales in 2 years, a boost in additional sales within the first seven months of deployment, and a better customer experience.
“For most retailers, labor is the largest controllable expense on a store’s profit and loss. With RetailNext’s intelligent shopper analytics platform, we have the ability to leverage the traffic data to drive sales and maximize every dollar of our payroll spend,” says Allison Timpson, Director of Financial Planning and Analysis at The Vitamin Shoppe. “Using the flexible platform, we’re able to move beyond that first level of traffic analysis to impact our business in a deeper, more meaningful way”.
By seamlessly integrating RetailNext data into its scheduling system, The Vitamin Shoppe can intelligently forecast future labor needs – a significant improvement over the company’s previous manual scheduling approach. That drives significant performance gains, and improves profitability across the chain, through the re-allocation of labor based on traffic trends. TVS was able to drive sales at stores with higher foot traffic while removing the expense of idle labor at other locations.
Store managers can access daily data on store-traffic “power hours,” enabling more efficient staff scheduling and an improved payroll-to-sales percentage. Managers can also draw on data to achieve the ideal labor-per-shopper ratio tailored to the day of the week and their store’s location, instead of relying on assumptions. And regional leaders get real-time visibility into network performance, with data-driven insights to determine which stores should open earlier or stay open later, and which stores could benefit from more robust weekend staffing.
“Before, we were forced to rely on assumptions based on transaction data that didn’t really show us the whole picture. Knowing the truth about store traffic, sales, and conversions on an hour-by-hour, day-by-day, store-by-store basis has transformed the way our store managers and company leadership make decisions," Timpson adds.
“For 45 years, customers have turned to The Vitamin Shoppe to help them realize their potential. Now RetailNext is supporting that mission by giving the company new tools to modernize its operations and deliver the best possible customer experience," says RetailNext CRO Sergio Gutierrez. "Our fully integrated platform gives retailers a seamless solution for tracking mission-critical staffing and performance metrics. We’re thrilled to be helping The Vitamin Shoppe to optimize its scheduling and meet its performance goals.”
About RetailNext
The first technology platform to bring e-commerce style shopper analytics to brick-and-mortar stores, brands, and malls, RetailNext is a pioneer in focusing entirely on optimizing the shopper experience. Through its centralized SaaS platform, RetailNext automatically collects and analyzes shopper behavior data, providing retailers with insight to improve the shopper experience in real time.
More than 400 brands in over 90 countries have adopted RetailNext's analytics software and retail expertise to better understand the shopper journey in order to increase same-store sales, mitigate risks and eliminate unnecessary costs. RetailNext is headquartered in San Jose, CA. Learn more at www.retailnext.net.
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Judith Subban RetailNext judith.subban@retailnext.net
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