Mar 16, 2022
Bonanza - An Omnichannel Engine Success Story
Read about how XStak Omnichannel Engine has helped enhance online businesses:
Background and Bonanza's need for Omnichannel Engine:
For a country where most retailers still rely on consumers walking into stores to browse and purchase, mandatory lockdowns in Pakistan pushed people online for their regular shopping. This made many businesses, big and small, to take the leap into e-commerce.
Here, we explain how Bonanza, a clothing brand, focused on successfully turning its business around during the challenges of 2020.
The brand turned to XStak to deliver a custom built ecommerce solution with an omni-channel experience powered by XStak’s Omni-Channel Engine (OE) - Pakistan’s first cloud based Ecommerce ERP, enabling real time omnichannel commerce.
While the Pakistani economy has steadily been moving online, a large part of the consumer’s retail experience still relies on shopping at physical stores. That is, until the government-imposed lockdown from COVID-19. Since then, retail foot traffic dropped to an all-time low — down 70% on the previous month’s statistics. When spring came without its usual crowd of shoppers, retailers scrambled to adapt to this new normal.
The retail industry, despite these challenges, continued to bloom, as consumers shifted their attention online. Since then, the conversion of offline to online consumers has continued to multiply.
This created a golden opportunity for retailers to move online and meet consumer needs. Bonanza quickly jumped on this chance, swapping from physical expansion to a digital transformation strategy with XStak.
Today, customers have high expectations of delivery times when buying online. On Pakistan’s leading e-commerce marketplace, Daraz, the overall sales of Fast-Moving Consumer Goods (FMCG) products doubled in March 2020 and these numbers are expected to increase. From Google Trends, we see a huge 150% increase in searches for “same-day delivery” and a 138% increase in the search term “near me”.
However, this is a challenge that Pakistani retailers struggle to live up to. 94% of freight traffic is reliant on roads that are not equipped for speedy deliveries. According to the 2018 Logistics Performance Index report, Pakistan came in at 122 out of 160 countries.
Bonanza OE Implementation
As logistics was an obstacle, Bonanza shifted inventory from its warehouse to its 25 closed stores across the country, following customer behavior carefully to understand which products to stockpile at which store. It also made sure that online and offline inventory matched, by using our XStak product Omnichannel Engine, to track available items in each location. OE is an Ecommerce ERP on the cloud that streamlines your omni-channel operations
OE integrated all these locations, thereby increasing the inventory levels available on the web store manifold. Real time KPI reporting enabled data-driven online marketing decisions, decreased dead stock, enabled automated replenishments and significantly improved operations and delivery times.
Bonanza benefited from following OE key features
Inventory & Order Sync
OE allows real time inventory and order sync between web stores and multiple physical locations, with integrations for various POS systems (Retail Pro, Microsoft Dynamics (AX), Candela, Shopdesk etc.).
Order Management System
OE provides an end to end online order management workflow, from the point of order placement, assigning it to an appropriate offline store, booking it with a courier and tracking its final status.
Multi Courier Booking
OE provides a master dashboard to help track all orders, packages and their shipping status in real time, booked across multiple couriers, whether local or global; eliminating issues and delays, as well to provide top-notch customer service.
Through OE, we eliminate the tedious job of going from portal to portal of courier and payment gateways and collecting data. OE does that in just a couple of clicks.
For any business to progress and grow, data is essential. OE collects, interprets and visually represents that data. By providing sales, inventory and marketing insights, OE ensures that Bonanza is ahead of the curve.
Manage inventory and track orders between different channels (e.g. between your own website and third party marketplaces) from one interface. For example:
Other OE Supporting features Bonanza benefited from:
Auto Report Generation
OE lets you generate detailed Marketing and Sales reports, to analyze weekly, monthly and yearly progress.
Click & Collect
Giving your customers the choice to collect their online order from nearby outlets not only lets them obtain their purchase as soon as possible, but it also means no delivery charges for your store while also increasing footfall to the store, allowing your manager to up sell/cross sell to the interested shopper.
Create and Manage Product Catalog
Users can create and maintain their product catalog on OE to onboard new products on their webstore.
SMS and Email Alerts
OE sends SMS and email notifications to customers to keep them updated on their order status. An email and SMS alert is also sent to the respective store managers on order assignments to their locations.
Role Based User Accounts
OE is designed to assist different users to carry out their Ecommerce operation. Business managers, Store managers and Customer Service personnel can carry out their respective roles.
OE provides a comprehensive and secure REST API that allows deep integration of any client.
Bonanza developed a customer-centric strategy with Omnichannel Engine
- Automated inventory tracking system to automatically match online and offline stock availability.
- Partnered with reliable logistics companies, who helped manage inventory and provide the last mile of service with on-time delivery to customers.
- Worked with multiple logistics partners to ensure that customers will always receive deliveries on time.
- Trained staff to manage their e-commerce site and get them up-to-speed on XStak OE order-management software, to help keep things running smoothly online.
Summary and Future Plans
Bonanza management is confident that it will expand more and increase its revenue and sales further with OE omnichannel features. Bonanza management is also considering using Xstak loyalty management solution called Omniretain to further enhance their omnichannel experience and further expand.