A US lifestyle brand pushed forward during the pandemic with a select ‘product drop,’ capturing a 600% increase in demand. A product drop consists of releasing a unique product or collection in limited quantities without advance fanfare. It taps into the competitive nature of consumers, creating a sense of urgency. The lifestyle brand ‘dropped’ a seasonal capsule collection of cozy essentials which tapped into the streetwear ethos..
The product drop proved exceptionally successful with a set of consumers, many of whom are staying at home. The limited quantities inherent in a product drop also greatly simplify fulfillment at a time when supply chains and inventory levels have been grossly impacted.
- Product drop strategy decreases complexity for fulfillment
- Limited inventory caps risk and preserves demand for future drops
- Product drop targeting audiences
- Seasonal capsule with limited quantity available
- 600% increase in WoW demand
- Achieved YoY comp in one week, matching demand of Black Friday, one of the top shopping days in the US
- DynamicAction’s Dimensional Analysis connects Product, Inventory, and Customer Data Sources
- Utilizing Advanced Customer KPI’s facilitated a quick pivot from product metrics to customer segments who have previously bought similar products, enabling a surgical approach to marketing the drop – a big money saver
- DynamicAction’s platform simplifies Order Affinity, with Analysis and Composition of Customer Order / Basket
- The ability to execute a basket analysis drives AOV by delivering product adjacencies that collectors will likely purchase with the launch item
- With DynamicAction, a Merchant can execute this analysis in a few minutes vs. investing many days of an analyst’s time.