Canadian Tire increases online revenue with Quantum Metric & Google Cloud Platform.
The large Canadian retailer paired Quantum Metric with BigQuery to improve conversion and make revenue impacting decisions.
40% increase in online sales.
Reduced abandonment rate.
Coupon opportunity for conversions.
Using both Quantum Metric and Google BigQuery, the analytics team at Canadian Tire was able to quantify a segment of customers labeled as ‘bargain hunters.’ During any given day, the Canadian Tire team found that 10-20% of those customers were attempting to use a coupon code and then abandoning their carts as the codes turned out to be invalid or expired.
Additionally, Quantum Metric enabled visibility into an aggregated view of the products that were in the carts of this segment of customers. “Our customers were using codes from several months ago in an attempt to get a discount. After receiving the error message that the code is invalid, customer analytics in Quantum Metric told us that more than 70% of customers were exiting the site and not returning to complete their purchase” says Associate Vice President of Digital Strategy & Analytics, Ishan Parikh.
Since the customers were largely buying older products and the size of the basket was larger than the average user, Canadian Tire wanted to retain these customers by giving them a special price.
- By re-activating the highest used coupon codes in their systems on certain sales days, the team has seen that the conversion rate of the price-sensitive customer has increased by as much as 40%.
Data driven decisions that impact revenue.
The team continues to use the platform to gain a cross-functional user-centric understanding of how their site is performing. “Quantum Metric allows us to look under the hood to understand what is happening digitally, even when things are going well,” says Parikh. “With its real-time data, Quantum Metric gives us the ability to make decisions that have an immediate and direct impact on revenue.”
“Quantum Metric data in Google BigQuery has given my team an in-depth understanding of our digital operations and customer behavior, combined with data from multiple sources. We are now able to visualize and optimize our customer journey more clearly, create more intelligent customer cohorts for better marketing ROI, and realize operational efficiencies through data-driven inventory allocation.”
Ishan Parikh/AVP Digital Strategy & Analytics
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