10 months ago
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Companies including online the wholesale marketplace Faire and the London concept store Lone Design Club are increasingly using data to drive their strategic decisions.
For its part, Lone Design Club is leveraging data analytics to optimize its store footprint by analyzing foot traffic, sales data per location and local customer demographics. The 6-year-old company has leased 100 retail spaces as pop-ups to thousands of U.K.-based brands. It also manages their merchandising in its stores based on its data insights.
“We always thought the locations which suited our brands were very obvious, and we had a very obvious idea of who our customer was,” said Rebecca Morter, founder of Lone Design Club, during a panel discussion in London on February 27. “What we learned from doing more of these pop-ups [and analyzing the data] is that it isn’t always the [popular locations] like King’s Road or Marylebone.”
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