How Ishka used Wayflyer Analytics to increase sales by $2.5m
Ishka is an Australian, family owned retailer that’s been around since 1971. For most of these 50 years, they’ve sold their goods through brick and mortar stores. But, a few years ago, they opened their first online store on Shopify. They started working with Wayflyer in 2021 and have used Wayflyer Analytics to increase their online sales by a massive $2.5m!
Toby Darvall, CEO of Ishka, explains how Wayflyer’s Analytics team helped Ishka achieve these results and started them on a new journey of experimentation and data based decision making.
“We started off in St. Kilda market in 1971, 50 years ago now”, says Toby. “Now, we’re a true omnichannel retailer with stores all over Australia and a website that gets hundreds of thousands of visitors every month. But, we are not experts in online retail, we are still learning all of that”, says Toby.
Working with Wayflyer
“We took funding from Wayfyer at the start of 2021 and as part of that, we got access to their data analytics team. We had a call with their team of experts and it was really amazing. They focused our mind onto some key metrics and gave us some very tangible advice,” says Toby.
Wayflyer’s team is made up of a combination of data scientists and marketing experts. Having spent years analysing eCommerce businesses and developing industry benchmarks, they are able to make expert recommendations to companies looking to improve their online performance.
“Firstly, they looked at our Return on Marketing Spend and compared us to some benchmarks in our industry,” says Toby. “They told us that we were performing really well compared to these benchmarks and recommended we spend more on marketing. At first, this kind of blew us away, we had always been thinking of controlling our marketing spend, not increasing it. But they were absolutely spot on. We increased our marketing spend and saw an immediate boost in our sales.”
“They also looked at our website performance and told us that our conversion rate was below the benchmark for our industry. So we went away and started to figure out why this was. After some testing, we realised there was a glitch in our checkout flow. A banner we were using on our page meant users couldn’t access some of our payment options (like Afterpay). This was obviously turning away lots of potential customers.”
Increasing sales by $2.5million
“It took our development team just 40 minutes to fix the glitch. We then ran an A/B test to see what the impact would be. Our conversion rate jumped by 44% almost instantly, going from 1.87% up to almost 2.7%. This is an extra $2.5 million in sales for us each year which is massive!”
The great thing is that combining these two recommendations has had a compounding impact on our sales. By increasing our conversion rate and increasing our marketing spend, we’ve been able to see huge growth in our online sales.
A New Journey for Ishka
Toby and the rest of the Ishka team are now focused on using analytics to make better decisions and improve their bottom line.
“Working with the Wayflyer team has kicked off a new journey for us. We are looking at our metrics much more closely now and are running lots more tests to see what works. It also protects us against making a mistake. If we have a new idea, we always test it first before we launch it to all our users” says Toby.
“We trust the numbers. Customers vote with their clicks and the numbers don’t lie.”
What our customers say
“We took funding from Wayfyer at the start of 2021 and as part of that, we got access to their data analytics team. We had a call with their team of experts and it was really amazing. Their recommendations have already increased our sales by $2.5million."
CEO fo Ishka