Q1. About
Tell us a bit about yourself and your two-decade-long career in retail?
I am Steve Gendron. I am the co-founder and CEO of ENDVR, a retail sales enablement platform. Before starting ENDVR, I spent a couple of years working in finance before opening my first retail store in Montreal, Canada back in 2003. We sold X products. After that I started a distribution company and brought products into the Canadian market. That’s when I found TOMS, a little start-up shoe company at the time, and helped bring them into Canada. Then over the course of 12 to 15 years I had the opportunity to work with some amazing brands, like Liberty Skis, Javina Sandals, and Richard Poor Socks. I carried a lot of brands in the action sport and lifestyle footwear business I’m passionate about skiing. That really gave me the experience to see retail from both sides of the coin and transaction – from being a store owner and going out and trying to influence store sales and sell-through.
Q3. Sell-Through
Can you explain the consequences of low sell-through rates for distributors and brands?
I remember when we first brought TOMS to Canada just to give you an example. We were using a sales agency model and we were all commission-based. And I remember having months where my little business had negative commission checks because there were more returns than purchases. I was on the books for a few grand and it was extremely nerve wracking.And then on the brand side, you don’t see what sell-through is happening. It’s difficult to keep your finger on the pulse. You don’t know what’s going on until you get an email from the buyer saying stuff is moving really slowly and they need your help. Or, things are going great and they need more product. It absolutely was not a good feeling in those early days.
Q5. Turning Point
What was the turning point that made you realize solving this problem couldn’t wait?
I remember this like it was yesterday. I found an amazing brand called Crochet Kits. They make these incredible knit products, like hats, scarves, accessories, sweaters. Every single piece is handmade by these women in Uganda and Perua and they’re hand signed. They get education and mentorship and the proceeds are given back to them. So, just an incredible company with an incredible mission. They created this two minute video that was so impactful, it gave me goosebumps. And I remember seeing it and saying, we need to make sure that every single employee at every single point of sale sees this video.
So, I reached out to one of my contacts and said, you saw what happened when every sales associate understood TOMS. One for one, you saw how excited they were. You could not walk into a store without a store associate saying, “Have you heard about TOMS? They’re giving away a pair of shoes to children in need.” And then or two or three days later, I practically had the exact same conversation with the buying team at Simons where they said, “We need you to get this video in front of all of your employees.”
That was the “AHA” moment. That was what led me say say, geez, every single person working in these stores and talking to customers has a smart phone in their pocket. They are in the greatest position to influence a purchasing decision, yet they are also the hardest people to reach, to educate and to get excited about your product. So, why can’t we just directly engage with them on their phones to make sure they have the information they need to do their job well and to sell more of our products? How can we NOT do this?
Q7. Value
What brands are leveraging ENDVR, and what measurable outcomes or intangible gains have they reported?
We have some of the world’s biggest brands using ENDVR, like Oakley, Adidas and Burton. And the results speak for themselves. Oakley saw a 43% lift in sales using ENDVR. Vuori saw a 35:1 return on associate spend. Burton’s average purchase revenue is $257K. And I can’t tell you how often we’ve heard from store owners or managers about the impact ENDVR is making in helping them find and keep great employees. In a post-COVID world, it’s really hard to find great hourly talent. And because we’re giving these individuals access to all these rewards and incentives, retailers are using this as part of the recruitment and way to retain good employees.
Other anecdotal benefits our customers have shared is the impact of having visibility at scale. For the first time, they can see what products are selling at what stores at what prices. So, they’re really getting actionable data and insight that they can use to better support their network to make sure that they have the right product mix for their customers in their biggest sales channel.
See ENDVR in Action
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