A $5 billion retailer with 1,200 domestic stores wanted to evaluate the potential of Theatro's wearable computers and apps to better understand the potential business impact and ROI of making a $5m investment in their software as a service (SaaS) offering. Prior to our work, an internal team at the retailer had implemented a single-store proof of concept, but struggled to establish an effective pilot and business case. Although the team intuitively believed that Theatro’s potential was high, its initial findings were incomplete. The retailer engaged Point B to lead a renewed effort to drive a district pilot, develop new capabilities, fully evaluate Theatro's platform, and assess its potential business impact.
The power of a strategic pilot
What strategic goals should be addressed in the pilot? What new business processes would Theatro make possible? What data would need to be captured? Our engagement brought deep cross-discipline expertise in retail, strategy, program leadership and pilot measurement—the mix of capabilities essential to unlocking Theatro's full potential.
We began by assessing the retailer's current strategy and the capability of its store operations chainwide. Working with stakeholders from throughout the organization, we led a series of cross-functional lean workshops to develop, evaluate and prioritize more than 50 potential initiatives to improve their stores' performance.
With this potential in mind, we led development of the pilot strategy, project plan, measurement strategy and data collection plan, building consensus and earning executive support. We also facilitated improvements in data capture in order to collect the data points essential to a meaningful evaluation. We went on to lead the pilot implementation and build the business case model on the retailer's strategic priorities.
The $100 million insight
Through the Theatro pilot, we identified, tested and proved opportunities for over $100 million in annualized business benefit to the retailer. We noted performance improvements across key metrics, including loyalty program sign-up rates, sales of specific products and improved customer experience. We also provided a change management approach and implementation plan for a chainwide rollout to deliver on Theatro's potential. While our learnings were specific to this case, Point B's strategic pilot solution is relevant and ready to help the diverse array of companies looking to leverage Theatro’s innovative technology.