Understand your stock better than ever before. Here at Cake, we are all about growing your business and a big part of that includes understanding your product range in depth; to help you know where to make investments to meet demand and your growth ambitions.We uncover metrics about your products and store to accelerate your success. Partner with our Gross Demand Plan™, to understand your cash flow for the year and map out stock orders in line with revenue targets - a perfect match so you don’t get caught out.
What can often hinder a brand’s growth is product availability. Keeping bestsellers or your ‘cash cows’ is crucial to have available at all times, as these will often be the gateway drug into your brand. The first step is organisation, we will help you categorise your products based on recency, popularity and the new product development plans for the year, as well as put targets in place for each category to track against weekly.
Each product launch or sale has an overarching goal, albeit rather different. A product or collection launch will aim to showcase innovation, it can often be a vessel in growing your community as you reach new people as well as triggering previous customers to repurchase. We can assist with drawing out the purpose and storytelling behind the product to ensure consistency across the marketing mix and curate assets in line with this.
Sales, with their own set of metrics to measure success, can be a great way to shift older stock to free up more investment for new products. Here, it remains important to keep a healthy margin during the sale period. We can work with you on markdowns at a product level based on the performance of the particular item.
Being prepared as much as possible will allow for you to focus on what you love doing; engaging your community, innovation for new products etc. In order to be prepared you need to have the knowledge to fuel your decisions, what stock to buy, when and who from? There will always be some level of flexibility and reactiveness based on customer behaviour, but at least you can make sure you are covered on the big things.
We can provide you with the analysis of previous sales history to predict trends for the upcoming seasons at a product and category level. This becomes vital when preparing for peak seasons such as Black Friday - you do not want to be in a position with little stock when customers are in a buying mindset!
It’s important to remain unbiased and not make assumptions on how customers use your site. That’s why we take a data driven approach to everything we do - a good place to start is by frequently reviewing your search functionality. We analyse what customers are struggling to find which may lead to lost transactions due to frustration or being time poor.
Constantly updating your search functionality to account for nicher terms and misspellings can assist your customers better to help them find what they want quickly, especially when it comes to larger product ranges.
Upselling and cross selling are a great way to increase your online store’s average order value but more often than not, these are unrelatable and do not resonate with the customer.
Implementing elements such as ‘complete the look’ or having easy add-ons at the cart stage to incentivise customers to hit a free delivery threshold can be powerful in improving your store’s metrics.
Being ahead of the game with your marketing activity allows for more effective planning to make the most out of your planned campaigns and big activity. It’s important to create tailored strategies per channel across the whole marketing mix so the content and products you are putting on those channels are more likely to have the desired effect.
Through our retail calendar we will work with you to plan campaigns across the year that align with your business goals and objectives, before rolling out strategies that have the most impact.
We work closely with the tool Inventory planner, which quickly plugs into your store and gathers crucial data about all products, variants and collections. With this data you will be able to measure the visibility, performance and availability at a both granular and top line level. Other great features include overstock and replenishment reports which can guide your buying decisions.
Every great relationship starts with a conversation. We’d love to talk with you about your next project and answer any questions you might have about Shopify. But be warned… once we get talking about this stuff, it’s hard to shut us up!