Strategies from PROFIT INSIGHT helped increase credit card revenues by 30%, significantly exceeding client expectations.
An Australian retailer with a growing portfolio and multiple stores across Australia was looking to increase customer spend and generate incremental revenue.
Profit Insight was engaged to investigate additional opportunities beyond ideas already implemented by the client’s internal staff to maximize revenue without inhibiting retail sales. The consulting team studied the store’s operating environment and completed an analysis of the products and procedures, product set-up, systems parameters and cardholder profiles.
Despite restrictive conditions and a unique product offering, Profit Insight provided strategies that would increase credit card revenue by over 30%. Over 10 strategies were recommended with a first-year benefit exceeding $6 million.
25% of recommended strategies, the value could be achieved using existing systems and operational capabilities and 75% would only require minimal system modifications.