{"id":57407,"date":"2021-05-10T16:22:00","date_gmt":"2021-05-10T16:22:00","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/how-purdys-chocolatier-is-using-rbc-insight-edge-to-connect-with-customers-and-drive-expansion\/"},"modified":"2024-03-05T14:11:34","modified_gmt":"2024-03-05T19:11:34","slug":"how-purdys-chocolatier-is-using-rbc-insight-edge-to-connect-with-customers-and-drive-expansion","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/how-purdys-chocolatier-is-using-rbc-insight-edge-to-connect-with-customers-and-drive-expansion\/","title":{"rendered":"How Purdys Chocolatier is Using RBC Insight Edge to Connect With Customers and Drive Expansion"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\">\n\t\t\t\t\t\t\t<span>Entrepreneur<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">How Purdys Chocolatier is Using RBC Insight Edge to Connect With Customers and Drive Expansion<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By RBC<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"930\" height=\"620\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-default-549.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-default-549.jpg 930w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-default-549.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Thumbnail-default-549.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 930px) 100vw, 930px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=How Purdys Chocolatier is Using RBC Insight Edge to Connect With Customers and Drive Expansion &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/how-purdys-chocolatier-is-using-rbc-insight-edge-to-connect-with-customers-and-drive-expansion\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/how-purdys-chocolatier-is-using-rbc-insight-edge-to-connect-with-customers-and-drive-expansion\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published May 10, 2021 \u2022 5 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Learn how Purdys Chocolatier is using RBC Insight Edge to connect with customers and drive expansion\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/In7yEDO-tZA?feature=oembed&#038;rel=0\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><br><a href=\"https:\/\/www.purdys.com\/\">Purdys Chocolatier<\/a> was founded in 1907 on Robson Street in downtown Vancouver. A family-owned business since the 1960s, Purdys has a long history of making their premium chocolates with high quality ingredients and sustainable cocoa. Known for their signature purple and gold packaging and loved by generations of Canadians, Purdys is intent on upholding their traditions while creating an exciting future for their brand.<\/p>\n\n\n\n<p>With 81 locations and counting, Purdys continues to look for expansion opportunities nationwide. While approximately 75 percent of locations are in the Western provinces, the company expanded to Ontario in the early 2000s and has 27 locations across the province. Their current expansion plan includes growth both within existing markets and into new regions.<\/p>\n\n\n\n<p>Like with any business focused on growth, the Purdys team is aiming for an efficient, profitable and sustainable expansion \u2013 at the same time, they want their current locations to continue performing well, which involves consistent oversight of sales and buying trends.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How RBC Insight Edge has helped with growth and efficiency<\/h2>\n\n\n\n<p>As with most companies, resources are not unlimited at Purdys. They need to make the most of the tools, time, people, and budget available to them. As one of the first companies to test out RBC Insight Edge, Purdys has been able to use the tool to maximize key aspects of their business.<\/p>\n\n\n\n<p>RBC Insight Edge is a new platform designed to help businesses make informed decisions at any stage by providing access to real-time intelligence, customer spending patterns, and commercial activity within specific neighbourhoods. It also enables businesses to understand the competitive marketplace and how they stack up against others in their industry.<\/p>\n\n\n\n<p>In a recent discussion with Purdys President Lawrence Eade and Director of Product &amp; Insights Ron Young, the team shared how they have leveraged RBC Insight Edge to drive success:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">To identify future retail locations<\/h2>\n\n\n\n<p>Out of Purdys 81 national locations, only a handful are not in a shopping mall \u2013 and malls continue to be their target expansion venue. As Purdys plans out their growth efforts, RBC Insight Edge has allowed them to tap into the demographic information in both their existing shops and potential new locations to understand where there might be a good fit.<\/p>\n\n\n\n<p>\u201cWhen we&#8217;re looking into new leases, RBC Insight Edge gives us information to help us determine whether it may be a good location for us or not,&#8221; says Eade. \u201cComparing demographics of successful locations to potential future locations allows us to de-risk the decisions we are making.&#8221;<\/p>\n\n\n\n<p>In fact, a mall in Ontario recently approached Purdys about potentially leasing an available location. By using Insight Edge, they were able to see that the demographics of the area were not typical for a successful Purdys location. \u201cWe have been in business for over 110 years, so we know our neighbourhoods here (in the West) and know who our customer is generally, but with our relative newness in Ontario, we&#8217;re not as well-versed in the nuances of each neighbourhood,&#8221; says Young. \u201cBeing able to see the difference through Insight Edge has made a huge difference.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">To establish product offerings by location<\/h2>\n\n\n\n<p>With nearly 100 products in their catalog, Purdys doesn&#8217;t sell or merchandise every SKU they have in every location. The team has used Insight Edge to look closely at demographic data \u2013 and they have found big swings in age, household income and consumer spending by neighbourhood. These insights have been used to help them make specific product decisions that best align with the customers visiting their stores.<\/p>\n\n\n\n<p>For example, Insight Edge has shown them that their downtown Toronto location is frequented by younger shoppers, so they feature their vegan and no sugar added offerings there, which have become top sellers. And in looking at household income and consumer spend levels, they can feature products and offers that align accordingly, such as larger gift boxes in higher-spend locations.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">To target their communications<\/h2>\n\n\n\n<p>By having access to the demographic data of shoppers at specific locations, the Purdys team has been able to get very specific in their marketing tactics. \u201cWe can narrow in on the age of the consumer, the gender of the consumer and their household income, which allows us to really target advertisements and develop marketing patterns for those groups,&#8221; says Eade.<\/p>\n\n\n\n<p>They can also see how far customers have traveled to get to their locations \u2013 during COVID it&#8217;s been particularly beneficial to see how close to home people are shopping. \u201cPeople aren&#8217;t traveling as far, so our marketing efforts have changed,&#8221; he explains. \u201cWe&#8217;re not marketing 50 kilometres away from our stores \u2013 we&#8217;re marketing 5 kilometres away,&#8221; adding that Insight Edge has allowed them to change with the changing times.<\/p>\n\n\n\n<p>Before Insight Edge, the team at Purdys would make decisions through intuition, gut feel and by collecting, evaluating and deciphering data from many sources \u2013 a process that would take a great deal of time, energy and resources. And often, data would be outdated (i.e. if using census data) and sometimes conflicting, so the accuracy of the information wasn&#8217;t always dependable. \u201cWe would make a decision and hope we were making the correct one. Now we make a decision, and we know it&#8217;s based on fact and accurate information,&#8221; says Young.<\/p>\n\n\n\n<p>RBC Insight Edge has allowed Purdys to prove and disprove information, reduce the risk of expansion decisions and reach their customers where and when they are. While they&#8217;re a company steeped in tradition, they have adopted forward-thinking, innovative tools to move their business confidently into the future.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-e9342078-2c34-4372-bfc6-c8ee80d5f75b\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=How Purdys Chocolatier is Using RBC Insight Edge to Connect With Customers and Drive Expansion &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/how-purdys-chocolatier-is-using-rbc-insight-edge-to-connect-with-customers-and-drive-expansion\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/how-purdys-chocolatier-is-using-rbc-insight-edge-to-connect-with-customers-and-drive-expansion\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-7c5dd470-5819-4156-be7d-9a70c040cc19\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/entrepreneur\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Entrepreneur<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/ideas-and-insights\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Ideas and Insights<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" 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