Supply chain is a critical factor in increasing speed to market. The best outcome begins with the initial preparation. Speed to market doesn’t happen on its own. While increased SKUs provide a better selection of products for customers, they also bring more complexity and strain a brand’s supply chain. Recent trends show brands increasingly add new SKUs to bolster their product selections ( Big Commerce).Īccording to Marketing91, the benefits of increasing SKUs are to attract similar audiences to new products, gain more space in stores and online, and stay competitive in the market.Īdditional SKUs help reduce marketing costs by allowing brands to bundle their marketing efforts across multiple product lines while also reaching different segments.
While this isn’t a new phenomenon for brands, the struggle to keep up with significantly increased demand, especially during the holidays, is real and, without proper support, can be difficult. With the explosion of e-commerce, brands are under pressure to sell more product across a wide variety of channels.īrand websites, retailers, and delivery services all require different versions of a product’s imagery and content, along with its packaging. Implementing campaigns, preparing for new SKUs, and packaging production all begin months ahead of time. This can be daunting, especially when variables outside of your control (e.g., changing consumer trends and market shifts) have to be taken into account. It’s imperative for brands to get everything just right. The Black Friday/Cyber Monday season is important for brands because it predicts how the following year will play out ( The Future of Customer Engagement and Experience). If that seems intense, it is. Let’s explore challenges, trends, and solutions brands must navigate for an effective and successful end of the year season.īlack Friday was significant on its own before it morphed into a four-day weekend to include Cyber Monday. Just these two events have become a global seasonal powerhouse on their own. Deals start way before the actual day, and last much longer. How do you keep branding consistent, manage your ever-increasing SKUs, artwork approvals, supply chain operations, and increase speed to market? That’s a lot for a brand to juggle during one of the busiest times of the year. Let’s face it, while the holidays can be the most wonderful time of the year for consumers, they can also be very challenging for brands.Īs a brand, you know holiday activations are prepared far in advance. Before long, the pumpkin spice and fall-themed paraphernalia will be replaced by holiday decorations.
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