Sally Beauty utilizes customer analytics to find new markets and grow smarter.
Paul Myrick, vice president of real estate at Sally Beauty, explains how Buxton's site selection analytics help the beauty retailer manage its fleet of 5,000 stores.
>> PAUL MYRICK: Hi, my name is Paul Myrick, Vice President of Real Estate with Sally Beauty. Last fall, we opened over 5,000 Sally Beauty Holdings stores worldwide. Since then, we’ve probably added 100-125 stores per year, 3%-5% annual growth. In that, 75% of that is in the U.S. With 5,000 stores, the question that always comes in is, “What’s the potential revenue of the store? Are we doing the potential revenue or is there more?” So with the model that Buxton built for us, not only are we able to look for new markets and open new stores, but we’re also able to better manage the existing portfolio and knowing if we’re hitting the market potential for that store or not. We couldn’t get through a week without Buxton. It’s a vernacular, we use it in the hallways, the operations people use it, the marketing people use it. I mean, it’s really a vernacular of Sally. It makes our job easier because of the analytical skills we can bring to the table now.