Interview with Mattia Caruso, chief of the Nove25 retail office
This month we interview Mattia Caruso, chief of the Nove25 Retail office. He tells us about his role within the company and his thoughts about the technologies that are changing the retail paradigm around the world.
Born in 2005, Nove25 is a brand from Milan that produces and sells silver & customizable jewellery: with 8 stores open in Italy, the brand stands out for the attention to detail, the love for craftship and the processing of the material.
- Hi, Mattia! Could you explain to us what your role is within Nove25 and your personal opinion about the boom in using digital technology and tools in retail?
I am in charge of the Retail office of Nove25 SRL, and I carry out multiple tasks concerning every aspect of the store management, and, for this reason, it would be simplistic to say that I only am a retail manager.
Very often people, regardless of the role they play within a company, create beliefs, often not supported by real and quantifiable data, but based on lived episodes, or born from impressions related to their background.
However, the consumer is increasingly demanding, less heterogeneous and adopts highly variable behaviours. For this reason, all retailers have required meticulous attention to research and identification of the purchasing behaviour of the individual, given that it is no longer possible to be content with knowing how the “mass” moves. Technologies can help us in this frantic search.
- Are there any differences in sales between physical commerce and the online e-commerce platform?
Yes, and they are still huge. The feeling is that, with the time passing by, these differences will become thinner and shorter, and only a unique experience of its kind will make the difference. I am referring to pay more attention to detail, such as music, hospitality, mood, environment, layout and a thousand other things that can make the difference.
- What are the plans for the company’s future?
A period of great expansion and fine tuning awaits us, both on the business model and on the inside processes. What are our next goals? Increase our presence, in Italy and abroad, reaching 20 stores by the end of 2021 and concentrate our efforts to explode online commerce. In addition, we want to improve the production chain, reducing production times and focusing on the creation of personalized jewellery – and, by the way, we have an extraordinary surprise for our customers.
- How can the brand use data in its store strategies? And why is it necessary to do it?
Data is essential to make any strategic decision: having statistics on customer behaviours is essential to succeed, in a world where the consumer is at the centre of the entire purchase process. On the other hand, commercial KPIs are essential for the planning and optimization of the sales point: only by measuring is it possible to improve.
- Which are the most important KPIs for your company and which are the most used tools to measure results and know the performance of the various stores? What kind of benefits did the installation of TC Group Solutions technologies bring to your stores?
The most important performance indicators for our business are: average cost of sales, average ticket, number of products per ticket, conversion rate, sell-through and cost coverage. Thanks to the TC Group technologies, we carefully monitor the exterior and internal flows of our stores to establish, for example, staff timetables. In addition, they allow us to put into practice different strategies: in the days of less flow, for example, we can create a drive-to-store to encourage revenue, we can identify which stores work best to replicate windows shops… and we compare all shops together to achieve measurable excellence.