Canary7; for seamless cosmetics inventory management.
Achieve flawless inventory management for your cosmetics venture with Canary7. Don’t take our word for it, see for yourself!
Are you looking for a cosmetics inventory management system that can streamline everything for you and make sure that each product of yours is not only stored safely but can also be sold properly? Meet Canary7.
Canary7 is the world’s leading inventory management system; everything from stock control to accurate forecasting can be taken care of with just a few clicks with our support. No matter how diverse your needs are as a business, Canary7 will ensure that the different challenges you face are easy to deal with.
Don’t believe us? Try for yourself.
Cosmetics inventory; a unique challenge for businesses
In accordance with the beauty industry growing at an alarming rate, worldwide sales of cosmetic products have also increased. This means that cosmetics retail is a lucrative opportunity for businesses. Whether it is innovative makeup products or a well-curated skincare range, businesses will find that just a little bit of effort in this area can lead to big profits.
However, in order to get there, they must encounter one very real challenge: cosmetics inventory. Cosmetics inventory is riddled with supply chain management and logistics problems. Being a major class of fast moving consumer goods (FMCG), cosmetics need to be sold as quickly as possible, and that too without any hindrances. Therefore, cosmetics inventory also needs to be optimised in a way that supports the needs of the FMCG industry.
Not only that, but customers also expect cosmetic products to be sustainable, since sustainability and eco-conscious consumerism is at an all-time high lately. Again, this means that there is a pressure on businesses to adapt their inventory practices to the needs of the cosmetic industry, which includes sustainability.
What are the problems with keeping a cosmetics inventory?
There are many specific problems that you can face while keeping a cosmetics inventory, especially when you don’t have the right cosmetics inventory system to help you walk through it.
Problem 1: Inventory overstocking/under stocking
Like most FMCG products, cosmetics inventory is also prone to the issues of inventory overstocking and under stocking. Overstocking takes place when you have more products in your inventory than you can realistically sell, and it creates a problem in terms of space and resource drainage. On the other hand, under stocking takes place when you don’t have enough products in your inventory, which leads to you selling products that you don’t have to begin with, which can cause a dent in your customer satisfaction.
To put it simply, in order for your inventory to be perfectly aligned with your sales, you must have just the right levels of stock; nothing more and nothing less. Of course, this can be pretty challenging to achieve.
Problem 2: Low customer loyalty
The customer loyalty for cosmetic products is bound to waver here and there, and this is because there is a lot of competition in this particular class of retail. Everyday, a new celebrity comes out with a makeup or skincare line, and your customer loyalty can break at any time. With low customer loyalty, it can be hard to ensure that you are going in the right direction with your inventory levels.
Essentially, while keeping a cosmetics inventory, you must be mindful that you are storing products that clients will actually be interested in. You have to be very on-hands with the whole thing, whether it means separating your obsolete inventory or it means constantly aligning your inventory activity with the data you generate, you have to be there 24/7 to make sure that you are providing something that impresses customers – which is of course hard.
Problem 3: Peak period rush
Although this problem is likely to basically affect any and every business, cosmetic products sell like hot cakes during peak seasons like Black Friday, Christmas, and New Year’s. This is why during peak seasons, your inventory will have to step up and become more efficient, otherwise your operations will simply not be strong enough to help you climb up the ladder of success.
Yet – this is easier said than done. Peak period rush means you will not only have to employ more people to help you manually, but you will also have to invest in high-tech cosmetic inventory management systems and other tools that can help you execute everything without a hitch. Businesses that are unable to do this will be lagging behind businesses who actually have the ability to do this.
Problem 4: Employing big data effectively
Because the cosmetics industry is so affected by consumer demands and rapidly changing trends, it is important for cosmetics retailers to be able to employ big data properly. It is crucial for them to not only get their hands on accurate data and appropriate information, but also that they have the tools and technology present to help them process and use this data properly.
So, managing a cosmetics inventory would mean that you have to mould your activity in accordance with weekly consumer sales, retail shopper data, consumer panels, and more. No matter how you gather this data, in order for it to become a functional part of your business will need to employ cosmetics inventory management software, because without it, it can be hard to achieve optimal results.
Problem 5: Slow fulfilment
This is perhaps the biggest challenge – after all, slow fulfilment for fast moving consumer goods is simply not an option. However, the fulfilment process is multi-layered, and it can be hard if not impossible to make sure that all the layers remain smooth throughout. Yet, even a single problem during any aspect of the fulfilment can affect cosmetics retail for good.
Slow fulfilment is directly linked to a mismanaged inventory and can lead to less customer satisfaction and retention, loss of profits, and a damaged brand reputation; the ultimate trinity of things that a cosmetics business can simply not afford.
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Canary7 – a solution for every problem
The good thing is, there is no problem that is too difficult to solve for Canary7. Our cutting-edge features are especially built to help you with all fulfilment and inventory related problems. Cosmetics businesses in particular can benefit greatly from our solutions.
Full control of stock levels
When it comes to FMCG businesses, full control of stock levels is very important. This is because only when you have full control can you strike the balance necessary to make sure that you are avoiding problems like overstocking and under stocking. And this can only be done with the help of technology that brings accuracy to your business operations.
Luckily, Canary7’s cosmetics inventory management system is here to help you. Our solutions give you accurate insights into your sales and inventory activity, which will enable you to optimise your inventory better for future use. Based on this, you can make sure that you have the perfect amount of products in storage. This will also help you avoid wasting money, space, and resources on products that can’t contribute to your business properly.
Increased customer satisfaction
At Canary7, we care about our customers – so we provide you with solutions that can help you tell your customers that you care about them as well. Although customer loyalty is low in this industry, we believe that if you do everything right, especially on the foundational level i.e. with maintaining the inventory, there is not much you can’t do in terms of impressing your customers.
Canary7’s cosmetics inventory management system enables you to take care of your products in the best way possible. Make sure that their storage is one hundred percent safe, so that you don’t have to worry about delivering unsatisfactory products to your customers. With this level of quality control, you can actually ensure that your customers consider you a reputable brand and are willing to do business with you yet again.
Peak season sales support
During peak season, the only thing that can help you in terms of doing everything successfully is multi-tasking. If you rely on humans instead of tech-savvy cosmetics inventory systems, you are basically setting yourself up for failure. After all, not everyone can handle peak season like it’s supposed to be handled.
If you integrate our cosmetics inventory management system into your operations, you can benefit from multi-tasking on a whole other level. With hundreds of integrations available, Canary7 makes sure that every aspect of your business; from eCommerce to accounting to shipments; everything is interconnected and hence, wholly efficient and productive.
Accurate utilisation of data
In the 21st century, you are only as good as you use the data available to you. This is something that Canary7 stands by, which is why we have gone the extra mile to make sure that we make it easier for you to harness as well as leverage data.
With the help of our cosmetics inventory management system, you can obtain accurate, helpful data and then use this data to develop products, manage trade, and provide effective communication to your customers. All of this is definitely more important when you come to consider its contribution to the overall success of your business, which is why any business that is looking to grow and that too without restrictions or borders will first and foremost get their hands on data that can help them move forward with full commitment, preferably with Canary7’s cosmetics inventory system.
Unparalleled speed and efficiency
You can simply not beat your competitors if you aren’t operating with unparalleled speed and efficiency. This is because in today’s day and age, customers care a lot about how fast and quickly they get their orders. If they get their orders super slow, chances are that they will hesitate from buying from you again, and as a cosmetics business that is something you simply cannot afford.
Therefore, Canary7’s cosmetics inventory management system brings to the table the opportunity to make your inventory processes 10x faster, more efficient, and definitely way more profitable. This way, we ensure that neither you nor your customers have to worry about slow deliveries, and that you can provide a stellar fulfilment experience to everyone who decides to invest in your business.
Why Canary7?
Canary7 is an especially designed software system that helps you navigate multiple fulfilment challenges. We allow you to do this while being affordable, accessible, and easy to use. Whether you are a small business that is just starting out or a big business that has been in the game for years, there is a little something for everyone when it comes to Canary7.
Stellar customer service around the clock
No matter where you are or what time of the day it is, our customer service representatives are here to help you navigate any and every problem that comes your way while using our cosmetics inventory management system. We care about you, and are definitely not afraid to show it.
User-friendly interface
We don’t believe in making our customers go through painful, complicated algorithms just to perfect their processes. Which is why Canary7’s cosmetics inventory management solutions are simple and straightforward to use. Master the art of fulfilment, without having to engage with convoluted user guides and technical information booklets.
Light on the pocket
No longer do you have to spend millions in order to get your hands on the best cosmetics inventory management solution. Canary7 is affordable and will always offer you the best solutions at competitive rates. As compared to many on-premise software, we are a better investment, and also safer considering we are a cloud-based solution.
Ready to transform your cosmetics inventory management journey?
We are ready to help you evolve as a cosmetics business. All you have to do reach out to us, and let us handle the rest.