Back to School 2022
Summer may have just arrived, but it’s time to prepare for a successful back-to-school (B2S) season.
Lead Time Management
Keep consumers happy with fast and reliable order fulfillment. Make a point to adjust lead times, order cutoff times, and daily unit throughput capacity for all warehouses.
Dropship Fulfillment Operations
Ensure your warehouse(s) are set up and ready to fulfill orders, taking into consideration the spike that B2S shopping creates. This is especially important for companies working with marketplaces such as Wayfair, as an inability to meet their reliability goal could put your products at risk for temporary removal.
Pricing + Promotions
Get ahead of competition by setting strong base costs throughout the B2S shopping season. By utilizing a competitive pricing strategy, you can use your competitor’s pricing data and adjust your prices accordingly, allowing you to stand out and drive more eyeballs to your product.
By increasing your advertising bids throughout the B2S season, you can increase visibility, drive impressions and clicks, and ultimately convert more sales.
Need help preparing for B2S? Reach out to us.
Consumers Are Spending Less
According to a recent report, more than 8 out of 10 US-based consumers are planning on making changes to reduce their product spending over the course of the next six months. Although general merchandise retail sales revenue is down only 1% compared to May 2021, consumers have already started to shift their purchasing behavior, making fewer purchases than just one year ago.
In fact, in the first three months of 2022 alone, consumers bought 6% fewer items at retail than they had a year prior. In total, the average amount spent per consumer went down by more than 2%. So, what can you do? Pay attention to your competitive pricing models, persuasive promotional plans, and the conditions that are influencing your retail channel.
Wayfair to Open First AllModern Retail Store
Wayfair recently announced the opening of their first-ever AllModern store, their specialty retail brand selling modern furniture. The store, located in Lynnfield, Massachusetts, is designed to blend what consumers love about physical and digital retail, offering a tech-first approach to shopping even while browsing the aisles of the store. It is Wayfair’s hope that this shift will give consumers even more flexibility in how and when they shop with Wayfair.
Prime Day Prep
As a reminder, Prime Day will be held in July this year. For help preparing, reach out to us or check out our latest article on prepping for Prime Day.