16-Aug-2010
FamilyMart's Test & LearnTM Capability Featured in CBN Weekly
Shanghai, China - In a recent article, CBN Weekly, China’s best-selling business publication, interviewed executives from FamilyMart Taiwan (FamilyMart) and Applied Predictive Technologies (APT) to discuss the ways in which Test & LearnTM is driving insights regarding the effectiveness of FamilyMart’s new in-market initiatives.
As one of the region’s leading retailers, FamilyMart’s experience is one that is playing out for many chains across Greater China: after initial stages of rapid expansion and standardization, opportunities are ripe for leveraging advanced scientific management techniques commonly used throughout North America to improve profits. At the core of these techniques is APT's Test & LearnTM, which enables companies to try potential profit-driving initiatives in a small number of stores, at low cost and low risk, to understand how these initiatives impact performance before making large investments.
These initiatives range from new product introductions to store remodels, from new marketing strategies to employee training programs, and from changes in business hours to new pricing models. Specifically, Test & LearnTM provides three key insights about any tested initiative:
• Did it work? What impact did it have on sales, transactions, profits, customer satisfaction, and other performance metrics?
• What elements of the initiative drove the greatest value? Can costs be removed from the initiative without reducing its effectiveness?
• Where did it work best? Are there particular stores, markets, or customers that responded most positively to the initiative? Where should the initiative be rolled out going forward?
Read more from the article, available in the following languages: English, Simplified Chinese, or Traditional Chinese
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