How to prepare catalogue changes if you are a manufacturer

16/05/2019

Angela de la Vieja

A manufacturers catalogue and brands are what defines, among other variables, their possibilities of acceptance by both consumers and retailers who sell their products to the end customer. Hence, keeping it updated is extremely relevant. Catalogue changes by any brand must be a meticulously measured and detailed process so that none of the content is left without the necessary coverage.

Changing a brand's online catalogue is usually as a response to the launching of a new product or the need for an integral modification. The latter is the one that usually entails more dangers that things can become misleading if it is not carried out properly.

There are two typical situations in which the change of the complete brand catalogue is made:

Seasonal changes for commercial reasons, regardless of the sector.
Promotional periods with generalised discounts.

In both cases the task will be to modify and update all the details related to products sold by the brand, either directly or through other e-Commerce systems.

To prepare this online catalogue change, it is essential to prepare a list of susceptible elements when implementing the modifications so that none get left behind. This is a list of ideas that should be taken into account, at the very least, when making changes to a brand's online catalogue:

The product spec sheet. The catalogue change should not affect details in the product information. Titles, product descriptions, images, evaluations... Everything must be completely accessible and provide the greatest possible value.
Stock update. As a supplier, the brand needs to have clearly reflected what the stock level of its products are after the catalogue change, both when it comes to sales and the introduction of new items.
Price changes. Perhaps the most important element to benefit the brand when making a catalogue change. With the new dossier of product’s, it is necessary to update prices and recalculate everything related to them: margins, costs, competitive price analysis... Especially during the sales, it is essential to adjust the prices of the brand correctly. In addition, the brands role as supplier, it is essential to check whether the price compliance policy has to continue with the same conditions and that it is being carried out.

On the other hand, it is also essential to define, in advance, what form the new brand catalogue will take. It's time to look beyond the actual update and check with both retailers and end customers that the products will continue to be valid when compared to previous features or prices.

This is a clear example of what usually happens in any online store during the sales period. Usually, the times in which these promotions arrive coincide with the introduction of new seasons products. If it is the case with your brand, remember to take into consideration how the existence of both product types will affect your catalogue.

Organisation of the new supplier catalogue

Within the new online brand catalogue, it is essential to have carefully considered what the established order will be for the products as well as the different related elements.

This is a very important aspect, especially when presenting the news to those responsible for selling the products to the consumers: retailers. Now they will become the target audience for your strategy and it is imperative to understand what will really appeal to them.

To do this, it is necessary, on the one hand, to measure what interest was aroused in previous catalogue changes and, on the other hand, to verify what the conditions were, and how, these changes affected their competitors.

In any case, once the new catalogue has been created and presented, the last step is to integrate it into the distribution channel control tool. Only this way it will be possible to easily monitor what the relationship is with each seller regarding products and conditions recently introduced by the brand.

These simple notes only aim to refresh what elements have to be considered essential when making a catalogue change for a brand with online sales. With the help of integral management software for manufacturers, this transformation will be able to respond with values one hundred percentadapted to the market and the commercial reality of retailers and end consumers.

11/11/2022

Consumer behavior: How can behavior tracking be effective for setting the right pricing strategies?

Behavior tracking is becoming massively popular today. As a result, pricing strategies born from studying consumer behavior are a merchant's dream come true. If done right, it can conquer every market for the business quickly. With abundant data available, the strategic makeover of the pricing models is becoming easy for companies.

What is behavioral tracking, and how is the data beneficial in pricing?

For a quick understanding, behavioral tracking refers to gaining in-depth knowledge and insights into consumers through their web data. Their browsing habits, spontaneous decisions, shopping interests, and preferences come under behavioral tracking.

How can enterprises use customer behavior data?

Companies can use customer behavior data as a tool to strengthen their hold on the market. A customer’s preferences, values, and tendencies allow businesses to work in sync with them through the collected data. Apart from this, customer behavior can also aid in:

Tailoring customer needs for customer retention

Personalization is becoming the heart of a company’s growth. No matter in which area an enterprise is functioning, tailoring the services, products, and solutions is becoming increasingly crucial. Uniqueness and personalization attract the crowd like no other.

Increasing the overall value

One of the best ways customer behavior data affects a business is by upgrading the value of customers for the business. The customer’s characteristics allow the company to target the people that match the business prospects well.

Optimizing every type of content

Everything that is up for digital display requires content. You must have seen companies unveiling their products or services through advertisements and making the initial public appearance. Two essential sales strategies – upselling and cross-selling comes through content optimization.

Pricing Strategy

Last but certainly not least is the influence of customer behavior data on the pricing strategy. The pricing strategy essentially constitutes content derived from data analysis. Companies need to have a dynamic approach to the pricing system to attract the right customers.

17/02/2015

Saint Valentine’s Day, always a good opportunity

V-Day is looming, a long-awaited date for all and also a good occasion for the eCommerce. According the study conducted by Prosper Insights and Analytics, it is forecasted the average consumer expense that day will be the highest in last years. Furthermore, 25% of them will buy online, which means an increase of 4% regarding 2014 (The US department of Commerce). This is, therefore, a key date where market competitiveness increase and which could be assumed as a big opportunity for our business or, a big fail if we do not adopt the correct strategies.

How to turn this event into an opportunity? To achieve this goal, we need to adapt our prices to this hostile environment, i.e. we need to develop an appropriate Dynamic Pricing strategy that allows us to adapt our prices to the variations produced in supply and demand and to position us ahead of our competitors. In V-Day, the frequency in changes will be higher, carrying it out each hour or even each minute. It is estimated that 65% of leader retailers have the ability to respond quickly at these variations, such Amazon. For this reason, it acquires great importance the correct use of a software specialised in price motorisation of competitors. Do not miss the time and adapt your business to new adversities.

28/12/2022

Which are the best footwear marketplaces to sell on?

Footwear marketplaces are booming. The last decade has seen the launch of new specialized marketplaces with millions of different users. Among them are Spartoo, Sarenza and Farfetch, portals with international reach. Their main value is that they unite hundreds of footwear brands, as well as offering clothes and accessories. Although each has its own characteristics, they are all vertical marketplaces, i.e., they focus on a specific area, and their sales categories are interrelated. For sellers, these portals provide an opportunity to expand sales channels and drive the globalization of their e-commerce business. We explain how to sell on these footwear marketplaces so that you can assess whether they align with your plans for the future and then start defining a possible pricing strategy.