Before we reach a stage of data monetization where somebody is paying for the data, how we see is we generate data at our brand zone level and we share this data with the brands. Right now we don't charge them money. But, there's a reason why we're not charging them money, because there are a lot of insights in that data which we discuss with the brands to improve the operational efficiency. Let me explain.
We are a multi-brand retailer in electronics. Let's say we have got a brand, and the brand has invested in a brand zone inside our stores and the brand is also providing the manpower. Who is doing the sell out for us. How to optimize that manpower.
So, the first thing we realized when we started mining the data at a brand zone level and we started tracking footfalls at an hourly level. We realized that the staffing and the rostering in terms of manpower availability versus footfall, the manpower availability was only 66%. And when we showed the data to the brands and said: "Look, you have footfalls at these hours where you do not have any sales associates present. And, if you can provide the sales associates here, this will be your additional opportunity to sell." And how we did that is, because we also started tracking the conversion with the brands are doing for each of their brand zones on an hourly basis.
And, for a particular hour if the footfall is there and the sales associate is not there, when you apply the conversion rates, you are able to calculate or project the loss of sales. When you translate this loss of sales into a additional opportunity. And, again, when we convert that sales opportunity into the how much it costs to add an associate and how much extra income the brand can earn by that extra sales which the brand will get, when the sales associate gets on the foot floor. It was a no-brainer.
So today, the manpower availability has increased from 66% to 90%. And, that itself has led to double-digit growth of sales for the brand. So, the brand is able to see, yes, we use this data and bring operational efficiency. And, because of the operational efficiency, the sale is increasing, which of course we are also benefiting in terms of that extra sales and an extra income.
So, right now we are in a stage of sharing data and collaborating with the brands to gain operational efficiency, which of course is adding value to the brand as well as to us as a retailer.
