The Omnilytics Calendar module allows you to monitor the launch and markdown dates of other retailers and brands which are key information needed when planning your own product launches and markdown. It is an important step to take when crafting your own launch strategies to ensure market alignment and ultimately, sales optimization.
In this article, you will learn how to review your competitors’ launch strategy by using the Omnilytics Calendar module. Using this module, you can monitor your competitors’ launch and markdown activities on a daily, weekly or monthly basis in the period of 12 months either by rolling or the current year.
Step 1: Analyse the frequency of launches
To understand when brands or retailers are launching new SKUs and first-time discounts, observe the height of the bars in the New In vs. First Discount by Month card. The top bars indicate the number of new SKUs that are launched and the bottom bars are SKUs that are discounted for the first time.
In this example, we can see that Zara has a distinct launch and discounting pattern as observed by the consistent new product launches throughout the year and two seasonal sales in December and June. We can also observe that Zara reduces the number of new-ins each time seasonal markdowns are executed in order to prevent cannibalisation of its full-priced new-in items.
Step 2: Analyse the timing of launches (weekday or weekend & early, mid or end of the month)
Once we have identified the launch pattern on a monthly basis, we can further deep dive by looking at new-ins by day or week and to observe whether products are being launched in early, mid or end of the month. To do so, select the desired cadence for analysis (ie: daily, weekly, or monthly) from the Interval drop-down menu.
When we select the interval by daily, we can observe that Zara’s launch cadence focuses on launching products on Mondays, Fridays and Saturdays. Suppose that you now realise your competitor consistently launches on a Wednesday, you may want to consider bringing forward your launch to match or ahead of your competitor’s so that your products reach the consumer first.
Step 3: Monitor how many SKUs are being launched and put on discounts on every launch
When looking at the New In by date, we can observe the exact day or date that the products are being launched. The darker the shade of blue, the higher the number of SKUs launched on the particular day. You may hover over the grid to view the exact number of SKUs launched. For example, we can observe that a total of 1,071 SKUs were launched on Jun 07, 2020 by Zara.
Similarly, we can apply the same analysis to the First Discount by Date card. Here, we can see that there are two grids with the darkest shade of blue coinciding with the months Zara executes its seasonal markdowns.
Step 4: Observe the design and pricing of new product launches
To view the design of the products that are launched, simply click on the grid of the launch date. In this example, we clicked through to April 09, 2020 to view the items being launched on this day. From here, you can make quick visual analysis of the products that are being launched on the day (ie: Are these mostly tops? Basics?) as well as their pricing.
By understanding the frequency and timing of competitors’ launch strategy, you can identify the right launch timing to apply to your brand to effectively drive sell-through.
Hope you found this article helpful! If you have any questions or would like to explore the Omnilytics dashboard further, feel free to reach out to your respective Client Success Manager.