Omnichannel Fulfillment Part of Recipe for Pandemic-Era Success for Logistyx Clients
As shopping across various channels becomes increasingly popular, retailers continue to invest in omnichannel fulfillment strategies and technology. According to a recent Forrester report, nearly 31% of retail executives allocated a large cut of their 2020 budget toward omnichannel fulfillment and, of the retailers already utilizing omnichannel fulfillment programs, 22% said they plan on making improvements.
As shopping trends and rising customer expectations for speed and convenience continue to shift, retailers need to adapt accordingly to meet demand. Digital-first and omnichannel retailers have pivoted more easily by swiftly reimagining their omnichannel approach to fulfillment and it’s already paying dividends. Take, for instance, three Logistyx clients recently in the news for flourishing quarterly earnings.
Crocs reported better-than-expected top and bottom lines in Q2 2021, thanks to solid demand for its products and continued business momentum. Revenues soared 93.3% year-over-year (YoY), with wholesale and retail revenues improving 112.1% and 78.6%, respectively.
The company also made significant progress in expanding digital and omnichannel capabilities. It witnessed a 25% YoY increase in digital sales in Q2, marking the 17th successive quarter of double-digit growth, while e-commerce sales also surged 99% from Q2 2019.
In Q2 of Home Depot’s fiscal year 2021 (FY21), which ended August 1, the big box home improvement retailer earned $41.1 billion in total sales, up 8.1% YoY. The company’s global comparable sales rose by 4.5% for the quarter, with its U.S. comparable sales edging up by 3.4%.
This success comes after Home Depot achieved 83% digital sales growth YoY in Q4 of its fiscal 2020, where roughly 55% of all online orders were fulfilled through a store.
Oxford Industries (Owner of Tommy Bahama, Lilly Pulitzer, and Southern Tide)
Leading apparel retailer, Oxford Industries posted a 71.2% sales growth (YoY) to $328.7 million in Q2 of FY21, which ended July 31, 2021, against sales of $192 million in Q2 FY20.
As Oxford’s Chairman and CEO commented, “All of our direct-to-consumer channels performed well, led by our highly profitable, full-price e-commerce business, with sales growth of 49% compared to the second quarter of fiscal 2019.”
Congratulations to these companies for continuing to infuse innovation into their omnichannel efforts to enhance the customer experience! Logistyx proudly works with cutting-edge companies to help them modernize their omnichannel workflows to successfully meet increasing demand, satisfy customers’ delivery requirements, and drive down the cost of shipping.
Contact us to learn how Logistyx’s cloud multi-carrier parcel shipping system can help elevate your omnichannel shipping strategy.