Out of stock items cost brands much more than you can imagine. A study shows that 50% of shoppers leave without buying anything when they encounter out-of-stocks. For a billion-dollar retailer brand, it could add up to lost sales of $40 million a year! And that’s why, no matter in which industry you retail or the size of your Shopify store, you need the Shopify back in stock app.
Actually, there are more reasons why different industries need the back in stock app. Let’s discuss how it can benefit various industries.
Shopify Back in stock app – use cases for different industries
Fashion and apparel
Fashion and apparel eCommerce businesses have the highest stockouts. It’s one of the main reasons for lost sales, because shoppers can instantly turn to other online stores to shop similar products. Here’s where the back in stock app can help Shopify fashion stores.
Here are some use cases:
1. To capture purchase interest on hot-selling items
Your store might have certain products that sell out faster than the others. Generally known as hot-selling items, such products provide a certain surety of sales to your store. And so, you can’t afford to simply tell your customers the products’ stocked out.
But what if you told them it’s going to be back soon?
The back-in-stock app will help you do that. As soon as a hot-selling item goes out of stock, the automated restock alert subscription option comes on. Interested customers can subscribe to get notified when the product’s available.
By assessing the number of restock alert subscribers, you can know the demand for specific products. Utilize that data to target subscribers with personalized marketing campaigns to drive them to your site.
What’s more, you can even use the segmentation feature of the back in stock app to segregate different sets of shoppers for targeted marketing campaigns via different channels – SMS, email, web push, and Messenger – to bring them back to your store.
Here’s an example of a restock alert SMS:
Here’s an example of a web push restock alert:
2. To gauge purchase intent for to-be-launched products
Fashion stores often launch new products and collections throughout the year. When you’re going to launch a new style or collection on your site, you’ll have to prepare much in advance. As a fashion and apparel retail marketer, you need to focus on one thing – the purchase intent. By capturing it, you can assess how many and who are your potential buyers.
A back-in-stock app will help you assess it, so you can enhance your messaging game – send personalized messages to subscribers on the channel they chose – SMS, Facebook Messenger, email, or web push notification. That way, when your product is launched and available, you can bring back customers’ interest and push them to buy your product.
3. To avoid overstocking and under-stocking
By allowing shoppers to subscribe for restock alerts, you can easily know how many shoppers are interested in the product and what is the potential for sale of a particular product. Based on those numbers, you can then manage your inventory.
Say for example, a particular jacket has stocked out in your store. Your restock alert campaign for this product gathered about 50 subscribers. So you know, 20 would be too less and a 100 would mean overstocking. You can make inventory management a little bit easier with this app.
In the jewelry business, most brands tend to introduce new products in new collections or lines. A lot of these collections are based on seasons, such as festivals or during wedding season, etc. Let’s see how the back in stock app can benefit the jewelry industry.
1. To launch new collections
You can start preparation for launching a new collection much in advance by using the back-in-stock app. While promoting your launching-soon collection, allow your site visitors to subscribe to get notified. That way you can anticipate your collections’ popularity before it is launched.
And how does that help?
It’ll help you know which items are being liked more so you can focus your marketing efforts on those products as they are likely to generate more sales.
2. Generate more sales through urgency
When your items stock out and shoppers subscribe for restock alerts, you can pepper your notification messages with FOMO (Fear Of Missing Out).
For example, a trendy bracelet got out of stock. You restocked it. Now you can send a simple restock alert or you could make it time-sensitive by adding discounts or limited period offers to it. That way, your subscribers will fear missing out on the item again and make instant purchases.
Health and wellness
In the health and wellness industry, customers usually prefer to stick to one brand. So when products go out of stock in your store, your regular and loyal customers will wait and definitely come back to buy from your store. But for that, you have to make sure they know when the restock happens. Right?
The ideal way: the back in stock app.
1. Inform customers as soon as items are restocked
The back in stock app automates alerts, which means, the moment products are made available in your store, your subscribers will get notified. You can notify them through various channels – SMS, Messenger, email, or web push notification. Your notification alert can take them straight to the restocked product page. Subscribers can buy it within minutes of receiving the alert. Voila!
2. To predict seasonal product demand and purchase intent
The sale of health and wellness products is related to seasonal needs. For example, vitamins and supplements are more in demand during summer and winter seasons as they help improve immunity against seasonal viruses. So, how can the back in stock help?
By knowing the number of subscribers, you can predict the demand and purchase intent. Based on that, you can restock your inventory. At times, when seasonal diseases peak, you’ll need this app to assess the real demand.
Beauty and cosmetics
Beauty and cosmetics is another industry that faces high stockouts. It’s also an industry where trends change fast and require brands to be prepared to keep pace. In such a scenario, the back in stock app can help. Here’s how:
1. Capture interest on new trends
Let’s say for example, you’re launching a new line of eye makeup. How would you know how consumers are going to respond to it? You can assess consumer interest by running a launching-soon campaign and allow shoppers to subscribe to notifications. That way, you’ll get a sense of what kind of response your new line is gaining.
What’s more, when you send the restock notification, you can combine your messaging with recommendations of other products, too – upsell and cross sell.
Here’s an example:
2. Determine purchase intent for hot-selling items
Certain items that are popular might sell out fast on your eStore, for example., lipsticks and concealers that are fast-selling. And if your site visitors see something is out of stock, they might go to another store to purchase an alternative. Meaning you lost a sale opportunity.
But not if you have the back in stock app.
As soon as an item gets stocked-out, your product’s ‘Buy Now’ button will automatically change to ‘Notify Me’. By assessing the number of restock alert subscribers, you can know the demand for a particular product. Utilize that data to target subscribers with personalized marketing campaigns to drive them to your site.
An example from Shopify store Goose Creek Candle:
43% of electronics items are bought online. One of the most vibrant industries in the eCommerce space, it’s constantly evolving and innovating. And that’s where the back in stock app can help in many ways.
1. To launch new and upgraded products
So what if your product is not ready yet – you can still create hype around it with a pre-order strategy. And when you do that, you can use the restock alert app to notify subscribers and customers. Understand the purchase intent based on the number of subscribers.
2. To cross sell and upsell
Let’s explain how the back in stock app can help you upsell and cross sell with an example. Say for example, a customer interested in buying a phone subscribes to its restock notification. You should, of course, send an intimation when that phone is restocked.
However, since you have the subscriber’s email address and also know that they’re interested in your brand/products, why not recommend them a better product or even a complementing product?
For example, an upgraded version of the phone that is of a higher value that will also add value to the customer. Or a portable phone charger for the phone. Your restock alert messages can be smartly combined with other promotional messages to push subscribers to buy more from you.
3. To re-engage shoppers through marketing campaigns
Now that you have potential buyers in your email list, you can even combine your restock messages with marketing campaigns to entice subscribers to make purchases. Think discounts and deals married to your restock alert messages. For example, offer the product that the subscriber is interested in along with a discount.
Here’s an example:
“The item you’ve been eagerly waiting for is back on our eStore. 20% OFF only for our restock alert subscribers.”
When it comes to using products for babies, most parents prefer to stick to their tried and tested brands. And so, when their regular baby product is out of stock, they don’t mind waiting. But, it’s the brands’ job to make it easier for their customers to keep track of the product availability. Here’s how the back in stock app helps:
1. Notify subscribers when products are restocked
Subscribers of baby products might be eagerly waiting to get their hands on the out-of-stock products. You can give your subscribers preference over other shoppers and send restock alerts as soon as the product is updated on your site through automated notification alerts. So that your customers don’t have to wait further.
2. To know the demand for a new baby product
Let’s face the truth – it’s not easy to sell new baby products easily. Parents are always going to be vary about trying anything new on their babies, especially if it’s skin care, food, or anything that could be harmful to them. And so, baby product brands might find it difficult to assess the interest in new products. But the back in stock app can help.
During the product pre-launch, allow shoppers to subscribe to notifications when the product is available on your site. Say for example, you run a product pre-launch campaign for a month, by the end of the month, you’d know how many shoppers are interested in the new product.
Pets are no less than human babies, and pet parents want the best for their furry friends. A lot of pet parents prefer to use the same pet supplies – food, treats, grooming products, etc. Online stores can make the most of this situation with the back in stock app.
1. Notify subscribers automatically as soon as items are restocked
The back in stock automated restock alerts will help notify your shoppers as soon as the items are restocked. This even helps your customers build greater trust in your brand. They feel special and cared for when you care to inform them.
2. Run marketing campaigns along with restock alert messages
You could use the restock notification messages to share recommendations for new pet products or even complementing products. For example, if your subscribers were looking for specific treats, offer them a dog bowl as well. If they have subscribed for a leash, recommend them a harness as well.
Dropshipping is prevalent in many industries. It’s the method where an online store does not need to have its own inventory, rather have a third party fulfill their orders and even ship the orders directly to customers.
Owing to the nature of dropshipping, it’s difficult to assess which items may sell out fast and which won’t. This is where the back in stock app can help – capture purchase intent of stocked out items, so you can predict the numbers.
The back in stock app can be helpful especially to new eCommerce businesses engaging in dropshipping. It’s critical to update your store’s inventory with in-demand and trending products. This will also mean that your products will get stocked-out, sooner or later. And you have to be prepared to assess how many you need to restock in your inventory. Put the back in stock app to work to help you understand that.
So, how are you going to use the back in stock app on your Shopify store?
It’s common for products to stock-out on eCommerce sites. As a store owner or marketer, all you need to do is be prepared for it. Instead of turning away high purchase intent shoppers, capture their interest, bring them back, and make sure they don’t go to your competitors. And all this can be done on your Shopify store easily with the Appikon Back in Stock App.