
Optimizing Retail Success With Data & Analytics: A Conversation With Matt Salmonson
08/29/24 • 41 min
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Curious about what it takes to thrive in the retail industry? Get ready to hear from Matt Salmonson, Head of Inventory and Forecasting at Quince, as he shares his journey from a college job at a local department store to holding senior positions at iconic brands like Gap & Restoration Hardware. Matt’s fascination with data and technology has driven his career, leading him to become a champion for analytics and customer-centric strategies. This episode is packed with Matt’s insights on inventory management, forecasting, and the future of retail.
Learn how Quince’s unique business model is revolutionizing the retail landscape by delivering luxury products at affordable prices directly from manufacturers to customers. Matt explains the importance of maintaining inventory accuracy, fulfilling customer promises, and leveraging customer feedback to create a seamless shopping experience. Discover how data-driven planning, robust analytics, and a genuine dedication to customer satisfaction can lead to sustained retail success.
We also tackle the challenges of balancing customer-focused strategies with business objectives, such as margin goals and technological investments. Matt shares his thoughts on key metrics like customer retention and acquisition costs and offers valuable advice on the diverse roles within the retail sector. Wrapping up with some personal anecdotes and practical tips, Matt’s blend of humor, wisdom, and common sense makes this episode a must-listen for anyone interested in the evolving world of retail and analytics.
MATT SALMONSON BIOGRAPHY:
Matt Salmonson is an accomplished senior retail executive who has worked for some of the most recognized brands in the world. Over the past 30 years, Matt has served on the management teams of iconic American brands such as Banana Republic, Old Navy, Restoration Hardware, and Williams Sonoma. He has led teams in inventory optimization, sourcing and production, strategy, finance, advanced analytics, and technology. Matt has also managed the operational and technology strategies for expansion into new markets, including China and Europe, for multiple brands. Currently, he is the Head of Forecasting and Inventory Operations for Quince, a rapidly growing Series B startup that is fundamentally shifting how products get to customers.
Curious about what it takes to thrive in the retail industry? Get ready to hear from Matt Salmonson, Head of Inventory and Forecasting at Quince, as he shares his journey from a college job at a local department store to holding senior positions at iconic brands like Gap & Restoration Hardware. Matt’s fascination with data and technology has driven his career, leading him to become a champion for analytics and customer-centric strategies. This episode is packed with Matt’s insights on inventory management, forecasting, and the future of retail.
Learn how Quince’s unique business model is revolutionizing the retail landscape by delivering luxury products at affordable prices directly from manufacturers to customers. Matt explains the importance of maintaining inventory accuracy, fulfilling customer promises, and leveraging customer feedback to create a seamless shopping experience. Discover how data-driven planning, robust analytics, and a genuine dedication to customer satisfaction can lead to sustained retail success.
We also tackle the challenges of balancing customer-focused strategies with business objectives, such as margin goals and technological investments. Matt shares his thoughts on key metrics like customer retention and acquisition costs and offers valuable advice on the diverse roles within the retail sector. Wrapping up with some personal anecdotes and practical tips, Matt’s blend of humor, wisdom, and common sense makes this episode a must-listen for anyone interested in the evolving world of retail and analytics.
MATT SALMONSON BIOGRAPHY:
Matt Salmonson is an accomplished senior retail executive who has worked for some of the most recognized brands in the world. Over the past 30 years, Matt has served on the management teams of iconic American brands such as Banana Republic, Old Navy, Restoration Hardware, and Williams Sonoma. He has led teams in inventory optimization, sourcing and production, strategy, finance, advanced analytics, and technology. Matt has also managed the operational and technology strategies for expansion into new markets, including China and Europe, for multiple brands. Currently, he is the Head of Forecasting and Inventory Operations for Quince, a rapidly growing Series B startup that is fundamentally shifting how products get to customers.
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A Journey of Bold Choices and Marketing Mastery: A Conversation with Margaret Molloy
What pivotal decisions shape a successful career in marketing? Join us for an enlightening conversation with the esteemed Margaret Molloy, a global CMO and marketing expert, as she shares her fascinating career journey. Margaret discusses the bold choices that led her to success, including her move to the United States to earn an MBA and her recent decision to leave a long-term position in search of new opportunities. She emphasizes the importance of stepping out of her comfort zone and the invaluable role mentors have played in her life, likening them to an advisory board that provides diverse perspectives and support.
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TO PURCHASE HER SON EMMET'S BOOK ON "DREW DISCOVERS DIABETES " - YOU CAN FIND IT AT: https://a.co/d/iLPn8HT
HE IS EAGER TO GET IT TO AS MANY FAMILIES, EDUCATORS, AND NURSES AS POSSIBLE.
Margaret Molloy Biography:
Margaret Molloy has carved a notable brand management and marketing career, prominently serving as the Global CMO for Siegel+Gale for over a decade. Under her leadership, the branding agency flourished as she hosted hundreds of CMOs and thousands of guests worldwide at various industry conferences and private events. Margaret also shares her insights and the experiences of other marketing leaders on her podcast, "How CMOs Commit." An esteemed LinkedIn Top Voice and The Drum B2B Marketer of the Year, she is also recognized as a Fellow of the Marketing Society. Educated at Harvard Business School and the University of Ulster, with studies at La Universidad de Valladolid, Spain, Margaret’s academic background is as diverse as her professional experience. She balances her high-profile career in Manhattan with being a mom to two teenage boys. A native of Ireland, Margaret's international perspective and expertise make her a sought-after advisor and speaker in the global marketing community.
https://www.linkedin.com/in/margaretmolloy/
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Melissa Gonzalez Biography:
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Retail Relates - Optimizing Retail Success With Data & Analytics: A Conversation With Matt Salmonson
Transcript
Retail Relates EP 102 Matt Salmonson
Paula (Host)
(0:00) Welcome to another episode of Retail Relate. I'm Paula, and today we have an exciting guest who has navigated the world of retail with expertise and innovation. We're thrilled to have Matt Sullivanson, Head of Inventory and Forecasting at Quince.
Matt's journey from working at a department store to leading inventory operations at iconic brands like Banana Republic and Old Navy, and now at Quince is trul
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