OPERATIONS & SUPPLY CHAIN
Tap your customers’ knowledge
High performing teams reach deep to access resources beyond the norm.
When retail sales stagnate, brands need to pull the right levers to improve sales, regardless of the channel. Inventory management, merchandising, and pricing are key levers that can ignite sales growth.
A nationwide retail chain focused on supplements and wellness products struggled to drive sales.
Marea Partners came in to help identify a path back to sales growth. Looking for better insights into market and customer trends, Marea Partners created the first-ever wellness advisory board in retail distribution in the US. Members of the board came from eight regions across the country and provided ideas and expertise on inventory, merchandising, and pricing.
The objective perspective delivered a huge boost, with retail sales increasing over 75% in the first year of the program. The advisory board’s input provided the necessary direction to drive better decisions in the brand’s supply chain, and as a result, gross margin increased 6% and mark downs were reduced by 40%.
Companies struggling to generate sales growth may not be pulling the right levers. Looking to customers and supply chain partners for input could highlight the opportunities missed when relying only on internal resources.
Gross Margin Increased: 6%