Market Insights for Wholesale Accounts
Retailer A noticed a discrepancy with its wholesale strategy: while the number of accounts grew, the revenue figures declined. After further inspection, the retailer realised that many of its wholesale clients were sitting on high off-season and aged inventory.
The Problem: High Inventory Levels
The retailer’s wholesale accounts lacked market knowledge and competitors’ analysis, hence were hoarding products leading to poor cash flow management. This hindered purchase of new products as well as increased aged stocks.
The Solution: Equipping the Team with Market Insights
To combat this, Retailer A used Omnilytics to create monthly market insights reports aimed at equipping its wholesale accounts with market updates and competitors’ activities to enable better-informed decisions. With key market trends information supported by recommended actions, these wholesale accounts began trading more effectively and improved their cash position.
For example, after monitoring the market’s uptrending and downtrending styles on dresses, the wholesale accounts concurred with Retailer A’s recommendation to markdown off-season dresses. With better cash flow management, these accounts have increased the volume of wholesale orders.
Retailer A had a clear overview of uptrending and downtrending dresses
Having a clear overview of the market’s uptrending and downtrending styles as well as competitors’ analysis, the wholesale accounts of Retailer A were able to markdown poor-selling and ageing stocks effectively, improved cash flow and grew their business exponentially.
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