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John Andrews

๐Ÿ‘ค Speaker
169 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

So let me give you a specific example, right?

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

A customer walks into a store and they buy a product, right?

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

Great, every retailer is gonna use that data and that information, that transaction level data to optimize their operations in some way, right?

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

But what if you knew in addition to what that customer bought, what if you also knew it was available to them when they made that selection, right?

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

What if you knew what their options were when they made that choice?

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

Said another day, what if you knew what they didn't buy in addition to what they bought, right?

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

I now have a sense of the customer preference.

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

I have a sense of what their intent was when they made that selection.

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

And when you look at every single interaction with a customer, when you look at the intent when they choose one product over another, and you can do that by understanding what was in inventory in a particular store.

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

You can do that by looking at browse information.

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

If you go to a retailer's website and you look at five product detail pages,

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

but then you only put two of them in your shopping cart, that's context.

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

We're now able to build up a model, a pretty robust model, we call our choice engine, right?

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

It's a choice model that allows us to then answer the question, not just what did somebody buy, but what would they have preferred to buy if given the choice across an assortment of products, right?

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

Because what's happened in the past isn't necessarily, wasn't optimized, right?

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

Maybe you didn't have

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

the best assortment in front of them, right?

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

I bought a purple button-down shirt, but maybe the blue one wasn't available.

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

And I would have bought that if it was part of the overall assortment.

SaaS Interviews with CEOs, Startups, Founders
1020 Urban Outfitters Inventory Management Tool Breaks $6m in ARR

So being able to normalize against that and then build out that model.