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Brands that sell their own products often find it challenging to produce and stock the right amount of inventory.
Proper inventory management and forecasting has many benefits and is essential for your bottom line.
Retailers in the US are sitting on an average of $1.43 of inventory for every $1 of product sold, but 46% of small business owners still don’t track their inventory or only use a manual method.
By improving your inventory management process, you will ensure that you have a steady cash flow because you won’t be spending money on unnecessary stock. The freed up capital can be invested in growth instead.
On the other hand, having items in stock means your customers will be satisfied with timely fulfillment, resulting in more repeat purchases.
Here are 10 effective inventory management and shipping tips for DTC brands.
We know consumer product brands rely heavily on influencers to reach their target audience. It makes perfect sense with highly niche products to target specific communities and interests.
Because we want you, entrepreneurs, to succeed, we help you grow your brands in a sustainable and profitable way. We build Metrilo as the tool that gives you all data and answers to make strategic decisions.
As influencer marketing is one of the most used marketing activities, we included reporting on it in Metrilo so you can now easily monitor its effectiveness on traffic and sales.
If you’re building your own consumer product brand, you will need sufficient funds. Research and development, manufacturing, and branding are not for free. As opposed to other ecommerce models, you usually have to pay for inventory before you sell it and that means cash flow is even tighter. And let’s not forget marketing is also paid.
All this leads most product entrepreneurs – or founders of DTC brands – to seeking outside funding to be able to scale. While banks may provide operating capital (for meeting ongoing daily expenses in the business), bigger injections allow brands to create an innovative product and grow customer base.
In this article, we list investor funds focused on direct-to-consumer brands with their basic requirements to help you find one that suits your business.
Customer loyalty can have an overwhelming impact on your business. With so many brands of varying sizes focussing almost wholeheartedly on acquisition, they’re missing a lot of low-hanging fruit.
When you shift your focus to creating a post-purchase experience, you’ll find more customers coming back and buying from you a second time.
The holiday season has started and you’re probably already on fire. It’s crazy but very rewarding, I know. And not to waste any of your precious time, I have a bare-bones action plan ready for you to just plug in and cash on this holiday season.
Pinterest is often overlooked as just a place for lifestyle bloggers and wedding planners. But it can be a vital channel for brands looking to increase their brand awareness and connect to their ideal audience.
One of the biggest attractions of the platform is that pinners are looking to discover and open to new ideas and products. It’s the perfect place to visually tell your brand’s unique story and connect people to what they find inspiring.