vlog series: Episode 3
Overcoming European retail trading challenges using data
- Find out more about the key challenges facing US brands launching in Europe
- Hear from Saj our Trading Director as he discusses the political, social and economic issues specific to the EMEA territory and how we use data to address these
- We also explore our proprietary approach to stock management & optimisation, to enhance customer journey and how we support the Direct D2C channel with a brand protection strategy on Marketplaces such as Amazon
Hear from Saj, vvast Trading Director, as we explore the pitfalls and potential for trading your US brand in EMEA
Saj’s expertise trading global brands has ensured vvast can take an insight fuelled approach to enhance the customer journey. Diving into on and offline customer data to really understand recency/frequency/category preference that ensures a true 360 view and joins up the touchpoints for more efficient demand planning and trading best practice.
The current climate of uncertainty, fear and flux has dented consumer confidence. Meaning now, more than ever, brands must deliver on their promise and trade in an open and honest way to maintain trust. The vvast methodology allows you to forecast accurately and to trade tactically, taking into account localisation, stock optimisation, trends and insight.
In order to operate as a lean machine, collaboration between the in house and outsourced trading team is vital.. By simplifying the reporting processes through vvastBI (our Microsoft Power BI based business intelligence tool), we can save time, join disparate data sources together, but crucially we can leverage action driven reports to accelerate learnings and revenue. Maintaining low stock while delivering in a timely manner to meet customer demand and build trust and loyalty.
Many brands do not have access to the right data, or don’t know how to navigate the EMEA landscape to derive actionable insight. That’s why the vvast platform is built on an ethos of continuous improvement and relentless R&D. You need the right amount of data to optimise campaign activity and increase conversion rates. In the current climate – retention all hangs on this data and the insight we can leverage. Key brand learnings across our entire portfolio are accelerated with a better understanding of the customer right from their first transaction, so the revenue growth exponential curve is bought forward, sometimes by years.
A lack of full brand protection via competitor and mark down detection and Amazon brand registry management is also critical to success as you start trading in EMEA. Quick wins in context of brand longevity is benchmarked against product integrity and brand DNA. A lack of P&L clarity means inhouse teams can’t always proactively propose when there is an opportunity to unlock more revenue through acquisition or when stock becomes available to the D2C channel. That’s why at vvast we consider trading across inhouse, online and wholesale channels for a joined up approach. We support on your wholesale strategy and help you consider what a good wholesale account looks like when you add ecommerce brand metrics to the ranking criteria.