Tanishq Boosts Sales & Slashes Costs with Oracle’s APEX
Using Oracle’s APEX, a low-code application, Tanishq managed to slash tech support expenses by 30% and generate an impressive Rs 1,000 crore in additional revenue.
The “Endless Aisle” app is a game-changer for Tanishq stores, as it lets them display the brand’s extensive jewelry collection across India. Tanishq, a top-notch brand under Titan’s umbrella, operates more than 550 stores in 260 Indian cities. By shifting its inventory management to Oracle Cloud Infrastructure, it succeeded in cutting down its technology support costs by 30%.
Addressing the rising customer demand, Tanishq introduced the Endless Aisle service. This ingenious app allows store managers to present customers with a vast array of jewelry from across the country. Krishnan Venkateswaran, Titan’s Chief Digital Officer, mentioned in a conversation with Business Today that this remarkable service boosted sales by nearly Rs 1,000 crore last year.
Venkateswaran elaborated on how they measure sales growth: “We’re able to trace the final sales made to a customer that originated from another store. We call this an inter-store transfer, a solid proof of Endless Aisle instigating the sale.”
Endless Aisle uniquely allows Tanishq to present jewelry that would otherwise remain unseen in some stores. Customers are offered a digital viewing of the jewelry. If they express interest, the piece is then physically brought to the store for their examination before purchasing. “This hybrid shopping approach has resulted in impressive sales figures and more importantly, a pleasing level of customer engagement. Customers love the access to the entire national inventory,” Venkateswaran added.
Tanishq’s innovative inventory management system hinges on Oracle APEX, a low-code application development platform, which was transferred to Oracle Cloud Infrastructure. This infrastructure comprises Oracle Database, Oracle Application Express (APEX), Oracle Web Application Firewall, and OCI Flexible Load Balancing.
“Retail businesses grapple with the task of updating their tech framework while staying competitive and crafting innovative customer solutions. We are excited to extend our cooperation with Tanishq to enhance their efficiency, lower expenses, and stimulate growth,” shared Kapil Makhija, Vice President, Technology Cloud at Oracle India.
Thanks to real-time insights into inventory levels and order fulfillment, Tanishq can cater to surging customer demand while reducing technology support costs by 30%.
Moreover, with Oracle Web Application Firewall, Tanishq can effectively shield its operations from unwanted online traffic. In addition, the OCI Flexible Load Balancing aids in evenly distributing network traffic during peak times across its extensive network of 500 stores.