E482: November 2022 Brand Report (Handling Excess Inventory)
Happy New Year! We've been a little bit late with publishing this episode due to the holidays but we're back with the weekly releases.
Today, we're back with our monthly report for the month of November – we’re going to stop with the monthly report blog posts but we do plan on keeping this tradition alive for the podcast, so stay tuned for more Brand Report episodes. Do let us know how you feel by sending an email over to support@ecomcrew.com.
Since it's the beginning of winter, we've reached an all time low in terms of revenue across all our brands, mainly because most of them reach their seasonal peak in the summer months. We've seen this trend before with all of our previous years of data, so we're not too worried about it.
We're actually a little more excited than usual because WildBaby was able to survive a lot of the Black Friday rush, and we didn't run out of inventory like we usually did in our previous years. But how much inventory is too much? With interest rates also going back up, our bottom line is starting to look a little dicey for 2023.
However, despite these challenges, we’ve had a lot of wins in many of our brands. We’ve recently been in talks with our suppliers to get better payment terms, and been working with an agency to up our branding.
- 1:13 – An update to our Brand Report Segment
- 4:05 – November Revenue numbers
- 5:11 – Predictions for December numbers
- 6:06 – Sneak Peek: Not running out of inventory for December
- 6:32 – How much inventory will Mike be left with?
- 8:00 – Loss: Having too much inventory
- 9:06 – Loss: Interest Rates going up
- 16:37 – Is the risk of supply chain disruptions going down?
- 18:59 – Supply Chain Uncertainties: Predictions for 2023
- 20:11 – COVID and Chinese New Year
- 23:19 – Wins for November
- 23:25 – Better Payment Terms for Suppliers
- 27:20 – Will Inflation go down the same way everything has?
- 34:30 – Win: Incorporating UGC into our Brands
Check out the Brand Report that complements this episode for more additional details on our wins, challenges and action plans. Secret Sauce and EcomCrew Premium subscribers also get access to our monthly Income Report, which contains a more detailed breakdown of our numbers and strategies.
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