Signet, the world’s largest specialty jewellery retailer, has invested in business testing software from Applied Predictive Technologies (APT). The group will implement APT’s Test & Learn system throughout its H. Samuel and Ernest Jones UK chains.
APT’s Test & Learn software helps companies trial and adapt major business investments—such as new products, marketing promotions, new stores and store refits—before rolling them out. In addition to Signet, APT’s customers include Boots, Starbucks, Subway and InterContinental Hotels.
Signet’s investment in Test & Learn follows an extensive pilot in which the company used the software to trial multiple trading and operational initiatives. Based on the success of this pilot, Signet has now signed a three-year contract to implement the software across its UK brands. It will use it to test further marketing initiatives, capital investments such as changes to stores, and operational matters such as staffing costs. Test & Learn will also provide new insights into shopping behaviour and analysis of potential promotional schemes.
Signet is implementing both APT’s Test and Learn for Sites and Market Basket Analyser solutions.
Ken Pratt, Chief Financial Officer of Signet UK, comments: “Working with APT on the pilot project has shown that we can have greater confidence in the outcomes of our business trials. In rolling out Test & Learn across our UK brands, we expect it to meaningfully change the way we test and implement major new initiatives.”
Phil Marsland, Senior Vice President for Europe at APT, says: “The pilot with Signet underlined exactly how the right tools can transform the accuracy of major investment testing—for any large, consumer-focused business. I look forward to seeing the business benefits for Signet as it rolls the system out across the organisation.”
Applied Predictive Technologies (see www.predictivetechnologies.com) helps organisations harness its Test & Learn™ software to analyse the costs and benefits of sales, marketing, product and capital initiatives and tailor them for maximum impact before rolling them out. The company services the retail, consumer products, banking, insurance, hotel and restaurant sectors. Over 50 Forbes Global 2000 companies have licensed APT’s software including Starbucks, Kraft Foods, US bank Wells Fargo, InterContinental Hotels, Staples, Victoria's Secret and TD Canada Trust. APT has its headquarters in Washington DC and offices in London, San Francisco and Taipei.
Signet (http://www.signetjewelers.com) is the largest specialty jewellery retailer in the UK, with 552 stores, sales of £461.2m (fiscal year 2010) and market share of approx 11%. It trades as H. Samuel—the largest UK chain of specialty retail jewellers—and Ernest Jones, the second largest. At January 2010, there were 347 H. Samuel and 205 Ernest Jones stores.
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