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I've got a confession - I'm a bit rubbish at pub quizzes. Perhaps I'm slightly more interested in the beer and less focused on the quiz.

The subjects I've studied mean I should at least come in handy for certain rounds, but I end up plumping for an answer based on gut feeling. It doesn't always serve me well!

A lot of retailers speak to us about using their gut feeling when it comes to buying. Their instinct on what products their customers are going to like is part of what makes them popular and keeps customers coming back. But what keeps the lights on and the business profitable is a healthy sell-through rate and achieved margin. That's pretty tricky to assess on gut feeling.

When it comes to choosing where to reinvest your money, having a solid understanding of how each brand performs for you is essential for making wise choices.

Lets say you need to stock up on shorts (assuming that warmer weather will eventually come). By taking a look in Cloud Reports you could compare your brands and how they perform for you.

For example, Brand A sells pretty quickly, but you only achieve 10% margin. Brand B however, sells at a steady rate, but you achieve 35% margin. Having this data helps you choose how to invest your money for the best return, and also helps you to gauge how much to buy, based on your recent rate of sale.

Now that gives me the gut feeling that its going to be a great season. Pub anyone?

Related to this article ...

Cate B, Nov 2019. Get more out of Ecommerce

Cate B, Oct 2019. Mobile Friendly Ecommerce

Cate B, July 2019. Boost Click & Collect Sales

Cate B, Apr 2019. Simple Ecommerce Checklist for Independent Retailers

Grant H, Sept 2018. The Modern Day Customer Journey

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