CBshoes is a fictional company (based on real-life Schuh retail in the U.K) I did this as an assignment for my Msc but expanded on it with visualization and storytelling. The data for this project is provided by Dr.Dong Hoang from Leeds Beckett University (UK). This project is mainly done via Excel, Powerquery and Tableau for visualization and data storytelling
The purpose of this report is to create: a) a compelling and relevant narrative b)highlighting key data c) providing insights and how these might drive change to the business.
The shorter data storytelling version can be found here: CBshoesreport_shortver
Dashboard: Dashboard_traditionalmetrics.
CBshoes is a shoe retailer brand operating in the U.K, this report is created to be viewed by the business development and marketing executive team. The first part of the report is about traditional metris which include info and/or insights on sales, socio-demomgraphic and sales by brands.
In 2020, the online channel contributed up to 68,93% (~69%) of total revenue, the rest was from retail stores sales. This indicates that the firm may have successfully implemented its digital resolutions to cope with the changes in consumers shopping behavior. Due to the pandemic, Small and Medium Businesses (SMEs) have prioritized digital transformation to be one of the key solutions 1. Meanwhile, the physical store sales is accounted for over a quarter of total revenuess, indicating the capabilities of CB shoes in omni-channel transformation, which has long been essential for businesses and only gets more accelerated due to the pandemic 2.
Based on sales quantity by brands there is a few that stands out:
- Ugg has the most sales in 2020. even though it's a luxury brand,
- Lelli Kelly - a brand known for children's footwear follows at 2nd place. Kids' products are not made to last, for this reason, they have higher price elasticity of demand, thus brands can drop the price points lower, resulting in higher sales.
What can be made of this is
- a) product attributes (e.g., quality, purpose, availability) remains impactful to purchasing decision, even during pandemic
- b) The parents cohort customer and/or first-time parents are still considerable purchasing power, during the pandemic, parents tend to buy more clothes for their children, the purchasing frequency increases because kids outgrow their apparels/footwear very quickly, according to Sucharita Kodali, principal analyst at Forrester 3. Furthermore, Kids' products are not made to last, for this reason, they have higher price elasticity of demand, thus brands can drop the price points lower, resulting in higher sales. The pie chart below expands on this further:
Half of online sales came from those aged between 25-44, the average age for first-time parent in UK in 2020 is 30.1 4. This correlates with the CB shoes sale statistics, providing support that the parent segment contributed significantly to the business. Extensions of future campaigns on this segment are recommended.
The next chart highlights this correlation further
The impact that Bounce rate (BR) has on E-commerce rate is up to 80%, The correlation overall is a strong negative link, meaning the higher the bounce rate the lower the conversion rate. Most age group follows this rule except for the 25-44 cohort in which higher BR has little effect on conv. rate since as it increases conversion rate doesn't fluctuate significantly. This finding goes back to support the notion that the middle-age parents group is an important buying power. Higher age-group also have tendency of increased Average order value (AOV) table below highlights that:
Overall, bounce rate remains consistent in all age group. More drastic change takes place in older cohort between 45-65+, despite decreased conversion rate, a higher AOV is seen at higher age cohort.
1: Ri, A. and Hoang, L. (2021) Digital Readiness, digital adoption and digitalization of UK SMEs amidst the COVID-19 crisis. [ERC Research Paper]. Enterprise Research Centre.
2: McKinsey & Company (2021) Omnichannel: the path to value. McKinsey & Company[Online]. April 30. Available from: <https://www.mckinsey.com/business�functions/marketing-and-sales/our-insights/the-survival-guide-to-omnichannel-and�the-path-to-value >[Accessed 12 May, 2022].
3: Maake, K. (2021) The Children’s Clothing industry is past its pandemic growing pains. Retail Brew [Online]. November 3rd. Available from: <https://www.retailbrew.com/stories/2021/11/03/the-children-s-clothing-industry-is�past-its-pandemic-growing-pains> [Accessed May 12th, 2022].
4: Clark, D. (2023) Average age of mothers at childbirth in the United Kingdom from 1938 to 2021 [Online]. Available from: https://www.statista.com/statistics/294590/average-age-of-mothers-uk/ [Accessed Jan 19th, 2023].