Willow & Everett is a home goods brand owned by a large eCommerce investment firm. Known as the “Williams Sonoma of Amazon”, Willow & Everett had a strong brand presence early on, with several key products driving revenue and profitability growth. However, after being purchased, the investment firm had to stabilize sales and cash flow in order to continue business acquisitions. With new entrants driving competition up and prices down, this was proving to be more difficult than anticipated.
Willow & Everett chose to partner with Product Labs because of their proven track record of eCommerce expertise. They needed an external operations team with the innate knowledge, proven processes, and strategic planning to get the job done without the expense, time, and steep learning curve of doing it internally. The following approach focused on revenue growth and stabilizing cash flow:
To remain competitive but optimize margins, Product Labs implemented a dynamic pricing strategy. This tactic utilized automated rules-driven repricing based on factors such as competitors, demand, and seasonal events.
By optimizing organic placement, Product Labs was able to achieve higher search engine placements at a lower cost. The organic ranking specialists at Product Labs are continuously on the cutting edge of Amazon’s ever-changing algorithm. The goal here is to have the client’s products appear naturally when a prospect searches.
Product Labs used promotions in combination with price adjustments to anchor consumers and drive adoption of overall increased sales.
By creating multiple ad formats and targeting them to shoppers at the exact right moment in the sales funnel, Product Labs made it easy for Willow & Everett to keep their brand in front of prospects based on past searches, visits or purchases. This fully managed program includes the creation, setup, management and reporting of sales-focused ads.
By partnering with Product Labs, this eCommerce investment firm was able to overcome Willow & Everett's second year slump with impressive growth on Amazon. Overall revenue increased by 44%, while their best-selling product improved sales by 91%. Even with increased price points, the company was able to maintain sales velocity and maximize profits. The dynamic pricing strategies and promotions resulted in a 16% lift in net profits.
We had so many SKUs and a lot of potential risk. But Product Labs took it over, stabilized, and actually grew our sales!– C. Ashcroft, Business Manager, Willow & Everett
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