Monsoon gets revenue boost via Ship From Store offer in first month
Monsoon seems to be benefiting from its latest omnichannel initiative with the fashion retailer saying on Tuesday that it has generated £1.4 million in extra revenue online due to its Ship From Store offer.
While that extra revenue figure isn't huge by many standards, it represents only a single month of its Fashion Finder service that gives e-commerce customers access to stock across the retailer’s store estate when items sell out online.
It's interesting that Monsoon has announced the results of it launching the service on the same day that Next devoted a big chunk of its latest results reports to the fact that it's doing the same thing.
Retailers with large store estates continue to emphasise how important having those stores is for their fast-growing online operations and this news from Monsoon certainly supports that view.
The company is working with OneStock, a stock unification technology specialist, effectively allowing stores to become a network of satellite warehouses. On one peak trading day since launch, Monsoon fulfilled 8,067 extra orders.
It means that rather than seeing items marked as unavailable on the brand’s website, customers are told that the order will be fulfilled by a store. Intelligent algorithms assign orders to the right stores to maximise profitability and minimise delivery time.
“Ship From Store is a transformational project for our business, an important milestone on the road to becoming a fully integrated omnichannel retailer,” said Monsoon Accessorize CEO Paul Allen. “We've been extremely pleased with the large number of orders and customers we've been able to serve thanks to Fashion Finder. It's now time to look at other customer journeys - click-and-collect and order-in-store - and benefit from the synergy with Ship From Store so that we increase customer satisfaction and optimise our fulfilment operation.”
The retailer is also using OneStock’s tech to improve stock accuracy in stores, “by reporting when products can’t be shipped due to being missing, defective, reserved by a customer or subject to local markdown.”
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