For retailers, being able to offer products for sale that they do not have to purchase or physically handle can seem like nirvana. For suppliers, having their products less limited by resellers as they put it in front of consumers is as close to utopia as it gets.
In short, the world is continuing to align to the consumer, and that is driving new integrated partnerships, omnichannel experiences such as BOPIS and SFS, and better technologies for seeing and selling all the inventory in a retailer’s ecosystem, whenever and wherever the consumer needs it.
Around the world, companies hold onto stock they know nothing about, or worse, promise products to customers they don’t have. Typically, retailers and brands operate on data that is only 65% accurate, wasting $1.5 trillion of revenue opportunities.
If you’re like a lot of our retail partners you hate being unable to fulfill an order due to limited cross-channel inventory visibility. You also find it frustrating that different channels can’t access the same assortments, leading to higher opportunity and shipping costs. And though you wish there was a way to offer faster shipping, your legacy solutions are unable to efficiently route orders to inventory locations closer to customers.
Business to consumer technology companies make it a top priority to get their customers using their product as quickly and efficiently as possible. Take Google and Amazon’s smart home technology as examples. Within minutes you can have your home device connected to your wifi network and integrated with your Google or Amazon account. Beyond that, can you imagine if it took you weeks of back and forth calling Netflix support, just to set up your account and watch the latest episode of your favorite baking show?
Dropshipping is a business model that enables companies to operate without maintaining inventory. Customers place orders online or at a retailer’s store location (showroom). The order is automatically forwarded to the supplier and the goods are shipped to the customer in the retailers’ name.