OpenStore

Bain forecasts $75B in US retail sales for BFCM 2024 💸. Are you prepared? I recently spoke with David, Head of supply chain at OpenStore, to get his take on navigating peak season inventory and BFCM. Here’s what he shared - 🔹 Monitor inventory daily Daily stock checks are essential to avoid best-seller stockouts and prevent slow-movers from piling up 📊 🔹 Cross-functional alignment Coordinate with marketing and ops teams to adapt quickly. This ensures promos are well-timed, and stock is strategically managed to keep up with the rush 🔹 Strategic promotions for slow-movers Consider Gift with Purchase (GWP) or targeted discounts to clear slow-moving SKUs and improve cash flow 🔹 Prepare for 2025 and beyond With potential tariffs and import regulations, now’s the time to review your supplier strategy for 2025. Preparing well can help you stay competitive as costs shift A proactive approach during BFCM and the rest of the peak season can make all the difference in reducing costs, improving cash flow, and setting yourself up for success in Q1. 📈 👉 For more info, check out the full article in the comments! —-- 𝘈𝘵 𝘕𝘢𝘳𝘳𝘢𝘵𝘪𝘷𝘦, 𝘸𝘦 𝘩𝘦𝘭𝘱 𝘧𝘢𝘴𝘵-𝘨𝘳𝘰𝘸𝘪𝘯𝘨 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴 𝘴𝘤𝘢𝘭𝘦 𝘣𝘺 𝘢𝘶𝘵𝘰𝘮𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘯𝘶𝘢𝘭 𝘸𝘰𝘳𝘬 𝘢𝘤𝘳𝘰𝘴𝘴 𝘴𝘱𝘳𝘦𝘢𝘥𝘴𝘩𝘦𝘦𝘵𝘴, 𝘥𝘰𝘤𝘶𝘮𝘦𝘯𝘵𝘴, 𝘢𝘯𝘥 𝘦𝘮𝘢𝘪𝘭𝘴. 𝘍𝘳𝘰𝘮 𝘭𝘰𝘨𝘪𝘴𝘵𝘪𝘤𝘴 𝘴𝘱𝘦𝘯𝘥 𝘢𝘯𝘢𝘭𝘺𝘵𝘪𝘤𝘴 𝘵𝘰 𝘵𝘳𝘢𝘤𝘬𝘪𝘯𝘨 𝘴𝘩𝘪𝘱𝘮𝘦𝘯𝘵𝘴 𝘢𝘯𝘥 𝘨𝘦𝘵𝘵𝘪𝘯𝘨 𝘭𝘰𝘸 𝘪𝘯𝘷𝘦𝘯𝘵𝘰𝘳𝘺 𝘢𝘭𝘦𝘳𝘵𝘴, 𝘸𝘦 𝘴𝘵𝘳𝘦𝘢𝘮𝘭𝘪𝘯𝘦 𝘰𝘱𝘦𝘳𝘢𝘵𝘪𝘰𝘯𝘴 𝘧𝘰𝘳 𝘤𝘰𝘯𝘴𝘶𝘮𝘦𝘳 𝘣𝘳𝘢𝘯𝘥𝘴. ⚙️ 𝘝𝘪𝘴𝘪𝘵 𝘰𝘶𝘳 𝘸𝘦𝘣𝘴𝘪𝘵𝘦 𝘰𝘳 𝘋𝘔 𝘮𝘦 𝘵𝘰 𝘭𝘦𝘢𝘳𝘯 𝘮𝘰𝘳𝘦 🌐

8 out of 10 Shopify businesses fail in their first year. Why? 🤔 Because there is an epidemic failure in the game to understand whats really going on! I see way too much emphasis on the newest marketing fad distracting entrepreneurs.  The businesses that grow explosively aren't the ones with the biggest marketing budgets. They’re the ones that consistently deliver delightful experiences. Here is what I see from most brands on Shopify: CX is a chore: I usually get around to responding for an hour each evening CX decisions are made by instinct: I feel like I don’t get that many return requests CX is an afterthought: 75% of brands don’t even have a support tool Let me share something that shook me: We started measuring “Tickets per Order” (think Moneyball for ecommerce), and discovered that 12% of customers have to ask for order updates. Think about that. These aren’t “leads” or “prospects” - these are people who already paid you, feeling annoyed by having to ask where their order is. Here’s where it gets interesting… The top 1% of Shopify stores? They turned this insight into their superpower. They cut that number to under 5% by improving their tracking systems. Their reward? Customers who return, refer, and rave. Here’s my challenge to you: Stop obsessing over your next marketing campaign. Instead, measure what percentage of your orders generate support tickets. If it’s above 5%, you’ve got bigger problems than your CAC. Disagree? The data’s waiting to prove you wrong. Drop a 👊 if you want to see your real numbers. I’ll show you what your customers have been trying to tell you. Or better yet, I will give you early access to OpenDesk so you can see it yourself.

Are you still putting the final touches on your BFCM plans? With this year’s unique twists, here are a few thought-provoking questions I’ve been considering—no standard prep checklist, just a different take on what this season could bring. Let’s dive in... 🕒 Timing of Sales: How early is too early to launch your BFCM sale? With election day around the corner and Thanksgiving nearly a week later than usual, the window between BFCM and shipping deadlines is shorter. Could brands feel pressured to start sales right after the election? Will the actual election results influence their strategies? 📧 Email Capture Pop-Ups: What to do with your evergreen email pop-ups during BFCM? Keep them as is, modify them for the BFCM offer, or remove them entirely? Each option has its implications for user experience and margins. 🔀 AB Testing: Is now the time for testing? While it’s tempting to gather insights for future campaigns quickly, there’s a risk any 'losing' variant might drag down your performance. Plus, don’t forget: “code freeze” applies across the board. Curious to hear others' thoughts/opinions on these questions. What are you prioritizing or rethinking this BFCM?

Introducing OpenDesk: An AI-powered customer support tool built for and by ecommerce brands. 🤝 Designed by the operators of 40+ ecommerce brands at OpenStore, OpenDesk is a customer support tool built to help brands respond faster, automate confidently, and unlock growth with actionable insights. 🔄 Explore smarter support that keeps your customers coming back: https://shorturl.at/LdXg2

Tune in tomorrow for a smarter, faster, and better way to handle customer support.