Earlier this month, the Flowspace team attended eTail West, the ecommerce and omnichannel retail conference designed to inspire brands and retailers with actionable tactics for growth and optimization.
Flowspace CEO Ben Eachus served as chairperson of the “Optimizing Ecommerce Operations” track, where he led a full afternoon of discussion among industry leaders about the digital transformation of the supply chain and its impacts on the customer experience and a brand’s bottom line.
Onstage at eTail
Onstage, insights and strategies were shared by leaders and visionaries from brands including FGX International, the heritage brand behind Foster Grant eyewear, who discussed the brand’s transformation in a digital-centric environment, and PacSun, who shared tactics for improving operational efficiency and CSAT with a customer-centric approach.
Eachus also hosted a session about managing the dynamics of changing inventory, promotions, and demand in a post-Covid environment, leading the discussion alongside Roderick de Rode, founder & CEO of coffee brand Spinn, and Patrick Hodgdon, director of marketing for Slumberland Furniture.
Managing The Dynamics of Changing Inventory, Promotions And Demand
Takeaways from the conversation include:
- A silver lining of the ongoing, unpredictable supply chain challenges is that marketing and operations teams are coming together in new and important ways. Inventory availability impacts marketing strategies, and it’s imperative that departments collaborate for the good of the brand.
- Modern shoppers have heightened expectations for fast, affordable shipping, which sometimes have to be mitigated when unforeseen circumstances tie up inventory availability. Communication is key – keeping customers informed with updates about anticipated arrival is critical to maintaining their trust and loyalty.
- Purchasing behavior has a big impact on cash flow, as inventory tied up in shipping delays affects a brand’s balance sheet. It’s imperative that brands have access to real-time data and insights when making planning and pricing decisions.
- Visibility is a critical element when it comes to supply chain constraints and delays. Across the business, access to information empowers brand operators to best align inventory availability with promotions, merchandising, and expectations for customer communication.
Emerging Ecommerce Themes
Throughout the conference, Flowspace team members engaged in insightful conversations with leaders and innovators from across the industry. Key themes and topics that were top-of-mind for most include:
- Ongoing changes restricting how users are tracked online are causing digital ad prices to rise and consumer acquisition costs to skyrocket. Brands everywhere are seeking new ways to retain and engage customers long-term.
- Customers today expect an omnichannel experience. They want the path to purchase to be as frictionless as possible, no matter where they choose to buy, and brands are realizing a greater need for the data and infrastructure that allows them to offer the convenience customers demand.
- Ecommerce success is leading to retail availability for many brands, like ThirdLove, which is opening several retail stores this year. Disruptive DTC brands recognize the omnichannel opportunity to offer product availability and a seamless customer, both in-person and online.
Etail West was a great event, and Flowspace looks forward to meeting more brand innovators at the next one. In the meantime, to find out more about the company’s ecommerce fulfillment platform and offerings, get in touch.