Farming isn’t easy. The process of planting, harvesting, and selling crops is long and hard. Unfavorable weather conditions, pests, and diseases can strike at any moment, delivering a critical blow to the quantity and quality of crops.
Unfortunately, many specialty brands can relate. When your business model relies on repeat orders and knowledge of which products are selling well, wholesaling to retailers without receiving adequate data leaves you just as exposed to the elements as a farmer.
That’s unless you have the right tools. Farmers might rely on pesticides and fancy tools, but for brands to reach their full commerce potential they need accurate data and sell-through rates.
A sell-through rate is a crucial metric that refers to the percentage of a product that’s sold directly by a retailer after you ship it to them wholesale. Think about it this way: If you sell 20 of your flagship snowboards to a retailer and they sell 10 of them, their sell-through rate is 50%.
As a brand, if you don’t know how your products are performing in the market, you’re essentially left in no man’s land. Knowing your sell-through rate provides valuable insight into how well your products are resonating with consumers and can help inform future product development and marketing strategies.
Tracking sell-through rates can be difficult. Brands don’t usually have much insight into how their products are performing once they reach the retailer. Manually collecting data from each retail location is arduous and often results in inaccuracies.
The good news is that with the introduction of Sell-Through Reports on the Quivers platform, you can now easily monitor your retailers' sell-through rates in real time.
Retailers load their full store inventory to Quivers, which means we’re able to track offline and online purchases — regardless of whether they come through Quivers or not. You can find Sell-Through Reports in the “Reporting” section of Quivers’ omnichannel commerce suite.
Sell-Through Reports is a crucial tool that shows you how well your products are selling in-store, and which retailers are best at selling certain items. Retailers also benefit from accurate real-time data on which brand products are selling well and how often they need to re-order.
A "good" sell-through rate can vary depending on the industry and the product. For example, in the fashion industry, a sell-through rate of 30-40% is considered to be satisfactory, while in the consumer electronics industry, a sell-through rate of 80-90% is more desirable.
With Quivers’ Sell-Through Reports, you’re able to view data based on categorized time periods and see the full picture of how your products are performing.
Quivers’ Sell-Through Reports provide you with a powerful tool for tracking retailers' sell-through rates, allowing you to make data-driven decisions that help optimize sales and improve your bottom line. With the ability to monitor performance in real-time and make adjustments quickly, you can ensure that this year’s harvest is plentiful.
Want to find out more about Sell-Through Reports and the rest of the Quivers platform? Request a demo from us today!