At the same time, we handle your deposit or balance payment.
Doing this allows you to order more inventory, sell more, and never worry about running out of stock.
The benefits of Myos Purchase Finance include:
1. No Manufacturer Contact: We don't require information about your suppliers or customers, safeguarding your competitive advantage.
2. No Personal Guarantee: Unlike other finance providers, Myos doesn't ask for personal equity guarantees like your home. We use only a portion of your goods as security.
3. Flexible Repayment: You can choose when to settle the financing. Repay according to your turnover without fixed installments.
4. Quick Verification: Myos focuses on your products, minimizing the typical paperwork banks require. You can receive an offer within 72 hours with a streamlined and efficient financing process.
With Myos Purchase Finance, you can supercharge your online business's growth, maintain flexibility, and keep your inventory well-stocked for Black Friday, all without the hassle of traditional financing.
Problem #8 - Last Mile Delivery and Carrier Service Levels
The biggest challenge for retailers during Black Friday is getting the last mile of delivery right.
Relying on a single carrier can be risky, especially considering potential disruptions like strikes.
Solution: Adapt To Changing Circumstances
Adopt a multi-carrier model. For example, have a selection of carriers to deliver the goods, offering redundancy and flexibility in case one carrier faces issues.
Establish an infrastructure that empowers supply chain managers to make real-time decisions. This flexibility is vital for the success of the Black Friday season, as it allows for immediate responses to changing circumstances.
Problem #9 – Inadequate Utilization of Data and Technology
Inefficient data analytics and technology use can hinder Black Friday supply chain success. Without proper tools and strategies, you may not have accurate information, leading to pricing issues, product selection challenges, and marketing inefficiencies.
Solution: Data-Driven Approach and Technological Enhancement
To address this problem, adopt a data-driven approach and leverage technology effectively.
Leverage customer data to personalize marketing efforts and product recommendations. Tailoring the shopping experience to individual preferences can boost sales and customer satisfaction.
Ensure your ecommerce platform is optimized for speed, security, and scalability. A smooth and secure online shopping experience is critical during peak periods like Black Friday.
Implement chatbots and AI-powered customer service solutions to assist customers efficiently during high-demand periods. These technologies can handle routine queries, freeing human resources for more complex issues.
Problem #10 - WISMO Calls and Customer Communication
WISMO (Where Is My Order) calls increase during major sale events, which can be a cost problem for businesses and negatively impact customer experience.
Solution: Improve Customer Satisfaction
Focus on addressing the underlying causes of WISMO calls, often stemming from broader supply chain issues. Use data and analytics to understand if the supply chain is designed for timely delivery and cost-effectiveness.
Implement tools and systems that support proactive customer communication. Set up API feeds from carriers and integrate them into customer service platforms.
Provide customers with real-time order status and use this data to create automatic decision-making models, reducing the number of WISMO calls.
Wrapping It Up
To make your Black Friday in 2023 a success, focus on three key factors:
1. Smart Strategy: Develop a strong supply chain plan by using technology, diversifying suppliers, and preparing inventory.
2. Cash Reserves: Ensure you have enough capital for all your business needs.
3. Customer Experience: Offer seamless shopping experiences to stand out in the competitive ecommerce market.
With these steps, you can have a winning holiday season.
How Can Myos Help You?
Whether you want to order more inventory to meet upcoming demand or additional working capital to invest in promotional activities, cover shipping costs, or renovate the warehouse, Myos has the solution just for you.
Cross Finance: Strengthen your capital while anticipating significant client payments.
✔️ No credit checks or personal guarantees are required.
✔️ Flexible repayments with no extra charges, allowing early settlement within 12 months.
✔️ Use your products as collateral.
✔️ Pay only a monthly fee based on the outstanding capital. Your %-fee depends on your product scoring.
✔️ Personalized support via chat, mail, or phone.
How Does It Work?
Our artificial intelligence reviews your product information (e.g., pricing history, competition, visibility, etc.).
It then calculates the financing amount and interest rate based on this data.
It's important to note that these calculated amounts represent the financing volume and should not be mistaken for the total repayment commitment. The financing volume is unrelated to the purchase price and may be lower or higher.
Who Do We Finance?
Myos is especially beneficial for ecommerce owners, no matter the platform (Amazon, eBay, online store, etc.):
Your company has a registered office in Germany, Austria, Cyprus, or the United Kingdom (UK) and is not a shell or shelf company.
Your company has been in business for at least 6 months.
Your company has been selling goods for at least 50 days.
How Can I Make the Most of Black Friday as an Ecommerce Owner?
To capitalize on Black Friday, focus on strategic planning, strong supply chain management, and promoting your deals well in advance. Ensure your website and logistics are prepared for high traffic and demand.
How Can External Financing Options Help with Black Friday Inventory Challenges?
External financing options can provide working capital to cover inventory costs upfront, addressing cash-flow challenges. Asset-based financing is one solution that doesn't require selling equity or asset liens.
What Are the Common Supply Chain Challenges during Black Friday?
Common challenges include inventory shortages, shipping delays, overstocking, and ensuring smooth order fulfillment.