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From Anecdotes to Insights: Fiskars' Data-Driven Approach to Garden Tools

KEY TAKEAWAYS

  • Data-Driven Market Focus: Fiskars leveraged YipitData’s real-time insights to prioritize growth categories, optimize resource allocation, and focus on high-impact opportunities.

  • Reinforced Industry Leadership: Fiskars leveraged data to enhance its reputation as a thought leader and provide valuable insights to customers and retailers.

  • Timely Seasonal Insights: YipitData’s short latency enabled Fiskars to stay on top of seasonality trends and conduct timely analysis.

ABOUT FISKARS

Founded in 1649 in Finland, Fiskars is a global leader in design-driven tools, making it one of the oldest businesses in the Western world. The company offers a broad range of products for indoor and outdoor living, with a particular emphasis on ergonomically designed, smart technology-enabled gardening tools. Fiskars products are widely available through major retailers like Amazon, Home Depot, Walmart, Ace Hardware, Lowe’s, Target, Tractor Supply, and more.

THE CHALLENGE

Prior to partnering with YipitData, Fiskars’ merchant teams relied on high-level market data from their previous provider, which lacked coverage across major retailers as well as details into garden category performance and trends. As a recognized leader in the gardening industry, they aimed to set the standard for actionable insights not only to guide internal decisions, but also to provide strategies for their customers and partners. 

Fiskars realized that their ability to make confident strategic decisions was limited by the quality of their data. They needed more granular, robust insights to validate market assumptions, understand customer needs, and stay ahead of the changing market.

YIPITDATA SOLUTION

After evaluating several data providers, Fiskars chose YipitData for its detailed, item-level insights and product analysis down to the SKU-level, along with its 15-day latency period. This allowed them to see near real-time data on emerging trends and identify the fastest-growing categories within garden tools. Using these insights, they were able to respond swiftly to market shifts and prioritize resources with the most impact on driving additional revenue.

“We used to be able to see what was happening in the market, now, with YipitData’s granularity of insights, we can understand the why.”

– Anu Höysniemi

The resulting 5% share gain in Area Rugs equated to $7.5M of incremental monthly sales.

IMPACT

By leveraging YipitData insights, Fiskars successfully won a test case with a major home improvement retailer, identifying a specific region where sales in their target category showed the greatest potential. Additionally, Fiskars reinforced its position as a trusted category leader across their customers, providing them with valuable insights both at a detailed and thought-leadership level. This data-driven approach led Fiskars’ to more informed decision-making and greater success in the market.