How the largest e-commerce site for kids watches uses FINS to capitalize on its most popular movies
One of the most valuable features of FINS is that it provides an effective method for watch brands of any size to take advantage of micro-merchandising. Imagine, your company no longer overproducing and storing inventory based on complex and risky sales forecasts or guesswork about market demands.
What if your brand had a system in place that minimized inventory value while accurately creating manufacturing orders based only on real-time sales performance? What if this system was so efficient that it could take advantage of market demands in real-time?
This is exactly how the largest kids e-commerce website is using FINS on their website to launch new watches based on their most popular movies at no risk.
The challenge for the largest kids e-commerce website was in facing the uncertainty of consumer demands for watches marketed for their new movie releases. Some movies are blockbusters and some less so, and they found it impossible to predict the demand for certain merchandising products such as watches.
As their official licensee and supplier of watches, EwatchFactory had a complex challenge: purchasing inventory, manufacturing branded watches and storing them was a costly and risky proposition for each movie release. Not only was over-producing fiscally costly but discounting overstock to recover costs would be damaging to their brand image and to the value of their products.
The solution was a full FINS integration, from inventory control at the factory level to consumer customization on their online webshop.
Leaning inventory is essential to cost-savings and efficiency at the factory level. Not only does it reduce stock and free up cash flow, it also reduces necessary square footage and streamlines production. For the largest kids e-commerce website, careful component standardization also greatly reduces inventory size.
By standardizing watch cases and movements, customization for different movies could be achieved with the simple addition of printed straps, watch faces and custom hands. For each new movie, a small investment in only these components greatly minimized risk in contrast to pre-producing complete watches.
By reducing customization costs by 95% and only re-stocking based on real-time orders, the largest kids e-commerce website is able to take advantage of any new market opportunities at virtually no risk.
The largest kids e-commerce website prides itself on customer experience and that extends to their micro-merchandising efforts. When their latest movie is released, customers can visit their online shop and buy a watch based on the movie or characters.
Additionally, using a FINS-powered online store they can also personalize their watch before they buy it. Not only can they select a popular character or movie as a theme but they can choose additional personalization for straps, hands and more. Each watch can even have a name or message engraved on it. This fully personalized watch order is then automatically generated by the system and created under the FINS automated system with production beginning immediately.
Fast Fashion Watches
Using a full FINS integration from factory floor to delivery, each personalized the largest kids e-commerce website watch can be produced and delivered in less than 14 days from factory to consumer. This unprecedented level of personalization, ease of purchase and quick delivery creates an effective Fast Fashion model for the watch industry powered by the FINS solution. As Fast Fashion has changed the apparel industry by speeding new collection releases and allowing levels of personalization for consumers, so too is it driving the watch industry.
Results of adopting FINS
The largest kids e-commerce website, as a titan in merchandising and marketing, has recognized the Fast Fashion trend in other industries and felt the challenges faced by its own merchandising and sales operations. They needed a low-risk method of transforming to a Fast Fashion model for their branded watches and they are an early adopter of the FINS system.
The largest kids e-commerce website recognized that the greatest effect and profit would be realized with a full supply chain integration and this unique B2B2C system has allowed them to greatly expand their collection and offer an enhanced customer personalization experience while simultaneously reducing inventory value, streamlining order generation, automating restocking and delivering products to their customers faster.
With the FINS Fast Fashion Solution for the watch industry EwatchFactory was able to support the largest kids e-commerce website to remain above and beyond their competitors in both product offerings and customer service.
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