How to capitalize on shifting consumer priorities

The resellers marketplace is expected to have a huge holiday season thanks to supply chain issues that are keeping ships packed with goods from docking, offloading, and transporting those goods to local retailers. Here's how resellers may capitalize this holiday season.

by Kristina Knight

First, embrace the lower volume/higher margin connection

"Companies are starting to embrace that sustainability, resilience and profits are not mutually exclusive. For example, brands like Rebecca Minkoff are already experimenting with made-to-order clothing, generating lower volumes and higher margins. This is also great for the consumer to get customized items," said said Madhav Durbha, VP of Supply Chain Strategy, Coupa.

Second, highlight customization options

"[Smaller] batches and near-shoring [can] help reduce excess volume," said Durbha. "Offshore production generally requires getting a very large volume of product to make it feasible. Optionality is key for both retailers and consumers this year. Consumers will have to be willing to make trade-offs when it comes to holiday shopping. For instance, if the gaming console you hoped to buy is unavailable maybe you switch to buying local."

Third, highlight the sustainability aspect

"Additionally, the growth of secondhand fashion will extend the life of clothing, helping to reduce emissions and ultimately saving them from ending up in landfills. According to a report by ThredUp, the U.S. secondhand fashion market is expected to more than triple in value from US$28 billion in 2019 to US$80 billion in 2029," said Durbha. "

Image via Shutterstock

Tags: advertising, Coupa, ecommerce, m:commerce, mobile marketing, social marketing