Issue link: https://resources.tangoanalytics.com/i/1465837
tangoanalytics.com 1 + CASE STUDY: CALERES Caleres (formerly Brown Shoe Company) is a diverse portfolio of global brands, operating over 1,200 retail stores under the brand name Famous Footwear, and also operates 100 specialty retail stores in the United States, Canada and China under the Naturalizer name. CHALLENGE Caleres needed an analytical solution to help them prioritize development opportunities across the country. They had reached a point where store development needed to aggressively address market voids and the changing demographics in their customer base. Existing analytical tools available to them were not designed to address the complexities that they faced. BACKGROUND "Caleres retained Tango to implement a site forecasting and market optimization model for our Famous Footwear Division. Through this partnership, we have gained new insights, which are helping drive our portfolio strategy around current and future locations." — Diane Sullivan Caleres CEO, President, and Chairman SOLUTION Caleres had not built a site model in many years to support the execution and creation of successful individual site and market location strategies. After a thorough evaluation of vendors in the space, they quickly realized that Tango had the depth of capabilities they required. Caleres selected Tango due to the unique approach that Tango had which included departmental specific sales forecasting as well as the integration of Ecommerce analytics into the effort. The departmental sales forecasting (e.g., men's casual, women's casual, children's shoes, accessories, etc.) was viewed as having significant cross functional value to marketing and merchandising in addition to real estate. Tango started by helping Caleres prioritize markets and better allocate their capital spend through an optimization modules, which enabled them to understand the market level opportunity before drilling down into individual sites and location. Caleres also started to utilize Tango's proprietary Smart Analogs which enabled them to match existing store performance to the core variables driving sales forecasts for new locations.