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Fashion Brand TOM TAILOR Achieves 6.7% Revenue Uplift and Improves Inventory Management

Learn how TOM TAILOR used custom price optimizations provided by 7Learnings to steer toward their business goals.
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Company Overview

TOM TAILOR is one of Europe’s largest lifestyle fashion companies, with e-commerce operations in 20 countries and more than 13.000 points of sale including own stores, franchises, shop-in-shop, and multi-label stores. TOM TAILOR sells clothing and accessory lines for men, women, and children across two main brands and eight main collections: 

  • TOM TAILOR – Men, women, kids, licences
  • DENIM TOM TAILOR – Denim male and denim female

Headquartered in Hamburg, TOM TAILOR currently employs more than 2,800 people in 23 countries.

Tom Tailor logo

TOM TAILOR successfully implements predictive pricing to boost sales and revenue simultaneously

Challenges

  1. TOM TAILOR’s product assortment is highly seasonal, with products having to be sold fast in order to avoid situations where outdated pieces feature in the online shop or pieces from previous collections have to be sold with a high markdown rate. 
  2. The need to adapt prices quickly is hampered by the lengthy process of manual analysis and price management. Most analyses are carried out via Excel and then uploaded into PIM.
  3. Inventory management proves difficult, with instances of excess stock causing overcrowding in warehouses.
  4. Setting optimal prices on the company’s own e-commerce store and for its products on marketplaces, such as Zalando, is challenging as customers behave differently depending on the channel.

Solution

  • Using 7Learnings predictive pricing optimization TOM TAILOR was able to not only increase revenues by 6.7%, but also increase sales by 10.7% for products in the sales section on their own e-commerce store.
  • With goal-driven steering, the company hit its revenue targets while also achieving the desired sell-through rates, reducing the pressures of inventory management.
  • Thanks to 7Learnings automation capabilities, TOM TAILOR achieved faster pricing and repricing for special promotions while retaining the ability to set the frame of pricing with custom rules.
  • TOM TAILOR is now able to optimize prices for its own e-shop and on online marketplaces in sync, reducing pricing errors and tailoring to customer behaviours in each channel.

7Learnings helped achieve:

6.7%

revenue uplift

10.7%

sales increase

Conclusion

The benefits TOM TAILOR has achieved demonstrate the full potential of predictive pricing: increased revenues, improved inventory management and reductions in operational time spent on pricing, and optimization and alignment of pricing and marketing activities. The company has seen performance boosts with 7Learnings achieving the stated aims of optimising revenues before returns.

Thanks to 7Learnings, we are finally on track for data-driven price automation and optimization!

Dr. Yola Engler
Director Pricing and Profit Management, Westwing
In the face of a growing and complex market, 7Learnings has helped us to significantly increase our margins while automating and streamlining our pricing process at the same time.
Jon Rogers
Vice President of Finance @ Displays2go

As an online retailer, it is very important to get your pricing right. 7Learnings did a great job in automating our pricing process while increasing profitability and sales significantly.

Oliver Roskopf
Chief Marketing Officer @ Vitafy

The solution developed by 7Learnings made price steering radically easy for our team, while increasing our profits and revenues significantly.

Timo Bethlehem
Managing Director @ meinemarkenmode.de

We benefited greatly from the pricing know-how and expertise provided by the data science team at 7Learnings. With 7Learnings’ predictive pricing solution, we achieved a fast ROI and completely automated our pricing process.

Jürgen Schuster
Founder & General Manager @ Raumschmiede
The 7Learnings solution has signifcantly increased our proftability and greatly simplifed the pricing process.
Dirk Wappler
CEO & Co-founder @ Apologistics

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