Table of contents
About Newcop
Newcop is a vibrant and innovative retail brand that specializes in limited-edition sneakers, offering exclusive footwear through their online store and physical stores in Barcelona, Madrid and a recently launched location in Paris. Known for their unique, high-demand products, Newcop has quickly built a reputation for providing customers with rare, stylish options which are often difficult for consumers to find. The company is a multi-brand retailer that brings together viral models from brands like Air Jordan, Nike Dunk, Yeezy, and New Balance.
Industry: Retail
Company Size: Mid-sized
Location: Spain and France
Main Improvement Areas:
- Implementing a variable compensation plan from scratch
- Increasing cross-sales within their stores
- Improve customer engagement
- Boosting online visibility through reviews
- Enhancing team visibility and motivation
The Challenge: Introduce a Compensation Plan for employees
Since its creation, Newcop offers a unique in-store experience that drives customer loyalty and encourages engagement. The retail company is changing the way people buy sneakers so they wanted to boost its employees’ performance by creating a variable compensation plan from scratch.
We knew we needed to create an incentive plan because the fixed salary structure wasn’t driving the kind of performance we wanted in our shops. The challenge was designing a plan from scratch that would motivate them while aligning with our business goals. It was critical to get the balance right and boost performance without overwhelming the team.”
David Camprubí, CEO of NewCop
So Newcop’s BIG challenge was to create an incentive plan that would allow them to attack 3 different aspects:
- Linking store success to employee compensation
- Improve brand visibility through excellent customer service
- Increase sales of cross-selling complementary products
Before using Remuner: The Issues Newcop Was Facing
Newcop’s previous compensation scheme was simple. Their team worked on fixed salaries with no incentives tied to performance. So, there was little drive to exceed expectations or engage with customers beyond the baseline. So, this compensation plan was limiting Newcop’s potential for growth.
With limited incentive to go the extra mile, staff wasn’t actively encouraging customers to leave reviews or driving cross-sales of complementary products. On top of that, the fixed salary model left no room for employees to increase their earnings based on their contributions to the business.
Old Compensation Plan Scheme
- Fixed salary with no performance-based incentives
- Compensation not tied to store success or customer interactions
- Employees had little motivation to go beyond standard duties
Issues Newcop Was Facing
- No opportunity for employees to increase earnings based on performance
- Few Google reviews per month, impacting online visibility
- Lack of cross-selling, limiting sales potential
After using Remuner: A Multi-Dimensional Approach
The integration process between Newcop and Remuner was very smooth. “Integrating with Remuner was seamless and straightforward. Their team guided us through every step, ensuring the system was tailored to our specific needs. The platform synced perfectly with our operations, allowing us to easily track employee performance and implement the new incentive structure”, said David Camprubí, CEO of Newcop.
With the new compensation plan live, Newcop had three different variables to work on:
New Compensation Plan Scheme
- Percentage of store sales: Employees now earn a percentage of total store sales, driving them to actively push for more sales.
- Google Monthly Reviews: This variable directly incentivizes employees to secure customer reviews, setting a goal to increase the number each month.
- Cross-Selling Products: To drive more revenue, Newcop also introduced a bonus for employees who successfully cross-sell complementary products to customers.
Key improvements
- Implementation of Remuner in Newcop’s stores in days
- 3% sales growth in retail points of sale
- NewCop multiplied x8 the store reviews compared to the previous month after implementing Remuner
- Increase of online visibility and customer trust
- 30% in the sale of complementary products thanks to the cross-selling incentives
David also highlights how partnering with Remuner has been a game-changer for Newcop. The new compensation strategy has not only boosted sales and customer engagement but has also transformed the way the team operates.
“We give employees the opportunity to earn an additional 20-25% of their salary through achieving clear, measurable objectives. We’re seeing more motivation, more reviews- we went from 5 to 80 in a month- and a stronger connection between our employees and the success of the business.” — David Camprubí, CEO of Newcop
Overall results in the first months
Definition of a new successful compensation plan
The new compensation plan, which included incentives for store sales and cross-selling, led to a noticeable increase in revenue. Employees were more motivated, leading to an increase in sales and overall store performance.
Boost in Customer Engagement
With Remuner, Newcop saw a tremendous increase in customer engagement, particularly through Google reviews. The number of reviews multiplied x8 the store reviews compared to the previous month, greatly enhancing their online visibility and customer trust.
Real-Time Monitoring
One of the key benefits of Remuner’s platform was the ability to track performance in real time. Newcop’s employees and managers could monitor progress on store sales, reviews, and cross-selling targets. This visibility helped the team make data-driven decisions and adjust strategies quickly, leading to improved overall results.
Employee Motivation and Alignment
The performance-based incentive plans motivated Newcop employees to exceed their targets. Staff not only increased their earnings, but they also became more aligned with the company’s business goals, contributing to a more cohesive and high-performing team.
In conclusion, the partnership with Remuner has transformed Newcop’s approach to compensation and performance management, leading to stronger employee engagement, higher sales, and enhanced customer satisfaction.
“We are excited to keep leveraging the endless options Remuner offers to set up the incentive plans we want. My team right now couldn’t live without the tool, it’s magic for us!”, says Camprubí.
