How this US-based E-Commerce increased sales by 200%
Started in 2014, the company sold products in over 40 countries, with 700,000+ app users worldwide. This US-based E-commerce company aims to bring modern innovation to instrumentalists with wearable technology that can assist in musical practice.
This US-based E-commerce company aims to bring modern innovation to instrumentalists with wearable technology that can assist in musical practice.
Started in 2014, the company sold products in over 40 countries, with 700,000+ app users worldwide. Their goal in the following 2 years is to focus on product development and market expansion.
Today, Choco Up shares the success of our partnership.
The company has not reached the full potential of their loyal customer base. They would like to invest into the development of new product lines for their existing customer base.
Inventory management is critical to fully capture Black Friday/Cyber Monday seasons. The company needs funding to finance their purchase of inventory ahead of the peak-seasons to ensure they make full use of it.
However, bank borrowing and traditional equity is slow, cumbersome, and unfriendly, making it a lengthy and agonistic process. Therefore, the company needs non-dilutive growth funding to assist in product development and the purchase of inventory.
The company is also expanding their market with the development of new products. New products will allow the company to scale their revenue with different streams of income.
Therefore, the company will need to invest into marketing as well as product development to tap into their new markets.
Flexible working capital is crucial to satisfy this huge growth need. Private equity companies and banks may not have the expertise to understand this demand for capital, making it difficult to obtain funding.
Choco Up’s Impact
Since Choco Up’s initial investment, the company has achieved an average of 12% month-on-month revenue growth, expanded into 10% new distribution channels, and captured a 200% revenue growth during the holiday seasons.
Choco Up understands the needs of digital merchants, including the importance of inventory planning. Choco Up’s investment has allowed the company to be fully prepared for spikes in sales, making full use of sudden increases in demand.
Additionally, Choco Up’s API plugins provides direct integration with sales channels, providing the company with a swift business underwriting process to mitigate lengthy negotiations.
Real time data monitoring allows Choco Up to track store performance, specifically during Black Friday and Cyber Monday, giving the company ongoing sales and growth insights.
Choco Up Will Help the Company Develop New Product Lines
Choco Up provides flexible growth capital to the company, allowing them to develop new products, invest into inventory and marketing all at the same time.