A Company with Global Charm
- Detailhandel & Goederen
- Digital Platforms
Get to Know Pandora
Pandora is an international Danish jewellery manufacturer and retailer founded in 1982. The company is known for its customizable charm bracelets, designer rings and necklaces. Pandora needed a site to help reinforce their goal to increase the number of loyalty memberships and improve their global reach.
Before 2015, Pandora operated seven e-commerce sites and had an online revenue just short of 500m DKK. Their website was visited by roughly 100 million people globally, but their sales and physical presence was growing. Pandora wanted their digital footprint to grow accordingly as well. To help meet those goals, they partnered with Valtech.
Digital Transformation Over the Years
Beginning in 2015, our interaction with Pandora started with the implementation of Adobe Analytics within their platform. The established KPIs and analytics derived were used to help drive the development of Pandora's new web presence and e-commerce offerings.
With digital sales climbing steadily over the following years, reaching a full 10.4% of total revenue by 2018, we were asked to produce a strategy aimed at finding revenue growth opportunities in Pandora’s digital sales and marketing operation. We identified nine, one of which was a new website that brought the e-commerce experience more to the center of the customer experience.
With digital taking a more center position in Pandora’s strategy, we were able to build Pandora’s global e-commerce performance reports, giving easy-to-read insights into how the business is doing and what needs urgent attention. They are distributed on daily basis with weekly and monthly summaries and across 20 markets with global and regional roll ups. With this thoroughly in place, we have been able to focus on the insights that drive Pandora’s e-commerce business:
- Improving and benchmarking website load speed. We have been able to pinpoint exactly where and when the issues have occurred and what to do to improve the situation both on front-end and back-end side of the platform.
- Guiding Pandora on how customers engage with the site.
- Online marketing KPIs across Pandora’s marketing channels. We provide the overall, unbiased view on how the different marketing activities are performing.
- We have merged quantitative data with qualitative input and NPS scoring by merging data from Medalia with web site behavior.
Machine Learning and the Future of Pandora
With Pandora's vision to explore deeper interactions with even more customers, we as partners help them push the boundaries for what insights can be leveraged and activated through the latest technology.
We use machine learning models to help them predict demand both long term and short term. With an intelligent model that learns and improves with more data, Pandora is able to save cost through supply chain optimization.
Covid accelerated the importance and challenge of this task, as well as showcased the importance of the omni channel experience that Pandora is investing in for the future. Our analysis on BOPIS (Buy-Online-Pick-up-In-Store) shows clearly that omni channel behavior has the potential to increase basket size and revenue for Pandora significantly. At Pandora, our job is to evaluate and deliver actionable insight on the different experiments and improvement activities to make sure Pandora is accelerating the learning process globally.
Our relationship with Pandora has increased their monthly loyalty membership, doubled their markets, and equipped the platform for the company’s rapid growth.
Key Results include:
- Improved site traffic from 100m visits in 2014 to 320m visits in 2019
- Improved Social Media from 10.5m visits to 24.6m visits
- Improved online revenue to 5.4bn DKK in 2020
"Through the last six years, I have been working closely with Valtech around the development of Pandora's brand sites, and Valtech has delivered a high standard of development from their very competent employees. Pandora has in this period experienced big growth and our digital success is in great extent due to Valtech's technical skills along with their knowledgeable advisory as an active co-player in analysis and development. Valtech's hospitality, professionalism, and high quality has resulted in us always feeling very safe with Valtech as partner."
Allan Sloth Jørgensen, Online & e-commerce Manager