WooCommerce Weeks of Cover
we’re proud to announce our new plugin Weeks of Cover for WooCommerce is ready for release. This free plugin includes a number of cool benefits:
- Advanced algorithms use actual sales, orders and intake to calculate your weeks of stock.
- Set alerts for thresholds and see products where you are overstocked or understocked.
- Calculations in real time so you always see your most accurate stock status.
- Control your mark downs and campaigns by understanding your stock leves by product and variation.
Why use this plugin?
What if you were able to see how much stock you have at the beginning of a season and how long it would take you to sell it?
What if you could make sure you sold all of that stock before the end of the season?
With this plugin you can. Imagine the effect that would have on your margin.
Our Weeks Of Cover plugin lets you track the performance of items and variations and shows you how much weeks or days of sales you have left.
This will help you to determine whether you should mark down, make a promotion or, in case you’re running low on stock, re-order.
Why is knowing my Weeks of Cover important?
Weeks of Cover, sometimes also referred to as Weeks of Stock, is one of the most important KPI’s for merchants and retailers to keep an eye on.
Let’s use an example – once end of season comes around, you’ll need to sell all remaining stock. Let’s say you apply a 20% discount, you have halved your margin and thus your achieved margin is much less than the 40% you were aiming for at the beginning of the season.
However, if you were able to promote the product throughout the season and use your Weeks of Cover to decide how aggressive you are earlier in the season this can help you to sell through it all before others start to discount for the end of season.
In other words, if you are able to see how much stock you have, how many Weeks Cover you have (how long it takes to sell it) and you know when your sale season begins then you have all the information you need to increase your achieved margin and increase profit.