In her recent webinar, ‘Driving Growth In A Changing Wholesale Market,’ preeminent fashion business consultant Lisa Metcalfe advised brands how to strategize smart post-COVID. Her central message? Thoughtful and measured scaling of operations, based on careful cost-benefit analysis, will carry companies forward in this volatile environment--safely, steadily, and while minimizing risk.
Throughout, Lisa described the essential role technology plays in successful decision-making: once businesses start distributing wholesale, they should adopt a wholesale platform--so the whole team can rely on consolidated data as a single source of truth.
· Quick decisions. The days of waiting for a vacationing colleague to send over that spreadsheet are over. When everyone has central access to key consolidated data, smart decisions can happen on demand.
· Automation. In our current market, sustainable success hinges on full-price sell-through--and that requires getting product to retail partners on time. Consolidated data powers the automation of order processing, drop/replace and other time-consuming, repetitive tasks--making for accurate, efficient operations.
· Agility. Gut instinct has its place--but not in a brand’s post-pandemic strategy.Consolidating data into key metrics gives brands a bird’s eye view of their business--including full visibility into real-time inventory, order status, drop/replace rates, and the ability to slice and dice all kinds of one-click reports.
· Prediction capabilities. Easy access to sales retrospectives helps brands plan for successful future seasons, and even make for adjustments mid-season. ability to view retrospectives and drop rate reports helps plan for successful seasons.
· Smart expansion. Digitization of key data lets brands run tests to gauge market and product appetite for new products or new geographies before jumping full force in the pool.
full-service wholesale platform gives brands the back-office excellence and strategic capabilities they need to grow smart in today’s complex market. Request a demo today.