Monday Minutes - April 9, 2018

  Monday Minutes

Monday Minutes

In this week’s Monday Minutes, read up on how to use your customer data to improve your eCommerce sales, H&M’s inventory management woes, and tips on expanding your retail business into wholesale.

3 Ways To Use Customer Data For Your ECommerce Business`

Here are three ways to use customer data to drive eCommerce conversions:

  1. Use your customers’ approximate location data to gain a better understanding on where you should direct your marketing and sales efforts.
  2. Use customers’ demographic information to understand your target customers’ purchasing behavior better and craft a better sales strategy to meet their needs.
  3. Analyze purchase history to segment customers into high-value and low-value customers, then tailor your marketing to the high-value customers.

Poor Inventory Management leaves H&M with $4.3 Billion Of Unsold Clothes

One of the world’s largest clothing brands, H&M, is facing a serious problem: $4.3 billion worth of unsold clothes. With heavy competition from big players such as Asos and Amazon, coupled with fast-changing consumer demand in the global apparel industry, H&M is facing a tough task to turn their fortunes around.

Making The Leap To Sell Wholesale

Moving from a retail-only business to selling wholesale is scary. While wholesale is an excellent opportunity to grow your business, it presents a potentially vastly different set of challenges for your business. Here are 10 tips that will help your transition to wholesale.

To get the latest news on inventory management and technology, follow us on Twitter at @SweetTechInc.