Against the odds, many specialty retailers grew in the past year. In fact, of the retailers we recently surveyed, 83% saw growth. And according to the Grassroots Outdoor Alliance, specialty retail showed a 29% growth in sales — a remarkable achievement given the numerous challenges faced by retailers during the ongoing pandemic.
One of those challenges, perhaps one of the biggest, is that many retailers lack the ability to see a brand’s inventory in real time.
In our research, retailers said only 55% of the brands they work with provide sufficient visibility into inventory. On the flip side, that means nearly half of the brands out there don’t give their retail partners inventory numbers when ordering. That’s a shockingly high number.
Imagine how much more successful retailers could be if they had the ability to see available inventory, pivot ordering around supply chain issues, and keep consumers properly informed of timelines or alternative products?
There’s a secondary issue here as well that keeps a brand’s success in check. If retailers can’t see what product brands have available, they won’t order it. This is going to put a damper on the potential for that season. But giving retailers access to real-time inventory delivers immediate results. Increased replenishment orders for improved sell-through and more successful retailers combine to grow the positive impact each season has on your brand. It’s a simple equation — inventory visibility equals stronger seasons.
And providing inventory right in your B2B is the place to do it.
83% of the retailers we surveyed stated that a B2B platform is the best solution for surfacing inventory numbers. What’s more, with the right integration, specialty retailers can use hyper-localized insights and metrics from our partner, Locally, to harness trends and capitalize on in-demand products.
Is your brand sufficiently supporting your specialty retail partners with easy access to real-time inventory? Envoy B2B can solve this problem, giving your retailers a window into inventory right inside the platform they are already accessing daily for education, materials, and ordering. Looking for more info? Click that button below and book a demo today.
