E-commerce revenue from the apparel and accessories industry is growing at 44% annually in the United States. By 2016, e-commerce apparel and accessories are expected to tally $73 Billion in sales, accounting for more than 20% of all U.S. online retail sales. 45 – 90% of all business expenses are a result of inventory costs. As a business owner you need to minimize costs, maximize revenue, and increase turn by making informed decisions about how many of each size to produce or carry.
Making smart purchasing or manufacturing decisions could be the difference between success and failure. As you look to increase profit, seemingly insignificant manufacturing and purchasing decisions are often overlooked. Using product-level data lets you prevent lost sales and excess inventory by making data-driven decisions. In the following infographic, Stitch Labs looks at how online sales trends size matter.
[Click image for full size version]