Product Drop Triggers Black Friday Level Demand in April

Product Drop Triggers Black Friday Level Demand in April

CLIENT WIN:

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.

STRATEGY:

  • Product drop strategy decreases complexity for fulfillment
  • Limited inventory caps risk and preserves demand for future drops

TACTICS:

  • Product drop targeting audiences
  • Seasonal capsule with limited quantity available

RESULTS:

  • 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

DYNAMIC ACTIONS:

  • 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.