Having the capabilities to leverage each year’s past sales performance into dynamic, AI-driven forecasts is critical to the success of seasonal products. With such a short window of consumer interest, companies must be positioned to immediately take advantage of increased attention and demand.
This case study will follow one brand’s year-long experience working with Tradeswell to optimize the strategy and performance of a seasonal grocery product. Read more to see how this brand saw 5x year-over-year (YoY) growth as a result.
The case study:
A grocery customer with a product that sees peak demand in November (over 90% of this product’s annual sales occur during this month) was looking for ways to maximize ecommerce sales during such a tight window. Since working with Tradeswell in 2019 and leveraging the real-time insights from our platform, online sales for the product grew 5x YoY. Now, in 2020, the company is looking to build on this success and capitalize on increased consumer interest.
Product assortment - the brand leveraged insights from Tradeswell’s retail dashboard which suggested that they expand their product offering to include a variety of new flavors as a method to attract repeat customers, as well as the interest of new ones.
Channel distribution - even though selling the product on Shopify is more profitable, insights from the Tradeswell platform showed that Amazon is a better platform for reaching consumers looking for seasonal products. So the brand took a bold step and decided to send all of their inventory to Amazon based on this forecast.
Advertising investment - the brand set its advertising strategy to utilize both sponsored placements and banner ads to dominate the above the fold ad space on Amazon.
According to data from our market intelligence solution, consumer search on Amazon was up more than 25% for October YoY in this category, meaning shoppers were already looking to buy in this category. Even though November is traditionally the strongest month for this product, sales for October were up almost 6x compared to last year. Given this early success, the company has also been able to take measures to also preserve margin.
With Halloween over and November on the calendar, the brand is leveraging all of the data and insights from the Tradeswell platform to continually monitor and refine the strategy around this product in order to maximize sales. Get Started with Tradeswell Today