COVID-19 changed consumer behavior dramatically. Ecommerce took center stage for consumer goods, with third-party marketplaces playing the lead. For one client, e-commerce sales couldn’t replace all lost revenues from stores. Maximizing online sales was critical both for the current year’s sales and future sales since the shift to online purchasing was likely to stick.
The biggest obstacle? Third-party marketplaces. They are notoriously difficult to monitor in real-time. This global apparel and footwear company needed insight into this new theater of consumer behavior. Was the right inventory in the right places at the right time? Has investment in marketing attracted viewers? Are the right SKUs getting prioritized? Waiting for reported sales in order to evaluate performance would be too late. Instead, our client needed to proactively monitor sales and inventory on major marketplaces on a daily basis so they could react quickly to their audience.
With Black Friday and Cyber Monday around the corner, our client needed up-to-date information for all of its brands. Data from online marketplace portals would need to be extracted efficiently and accurately to provide transparency into various metrics, such as sales in revenues and units, year-over-year performance, and sales lost because of price or lack of stock.
With those goals in mind, Escalent designed a dashboard to pull real-time data from the online market portals. The dashboard displayed the data in a way that put the spotlight on key sales and inventory metrics. As a result, the entire theater of the marketplace was illuminated, shedding light on successful performance and areas that could improve if the actors took quick action.
For the first time, our client had one central tool visible to all key stakeholders enabling coordinated decision-making across their brands’ sales teams, marketing departments, and operations. With the actors and crew well-prepared, they were ready to perform to an audience ready and willing to buy.
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