Purple Dot Company Research Report
Company Overview
Name: Purple Dot
Mission of the Company: Purple Dot aims to help eCommerce sell flexibly and fluidly, enabling the industry to sell more and reduce unsold inventory stored in warehouses globally.
Founded: 2019
Founders: No information is available.
Key People: No information is available.
Headquarters:
- Charlotte, NC, USA
- London, UK
Number of Employees: No information is available.
Revenue: No information is available.
What is the Company Known For:
Purple Dot is known for its pre-order management platform that enables eCommerce brands to sell before stock arrives, thus reducing overproduction and unsold inventory.
Products
Product: Purple Dot Pre-Order Management Platform
High-Level Description: Purple Dot provides a comprehensive solution to manage pre-orders, allowing eCommerce businesses to sell products before they have stock.
Key Features:
- Demand Forecasting:
- Understand demand and sell-through earlier than ever before using proprietary latent demand tools.
- Mixed In-Stock and Pre-Order:
- Customers can checkout with a mixed cart of both in-stock and pre-order products, choosing to ship together or separately.
- Automated Reactions to Stock Levels:
- Automatically flip between in-stock and pre-order experiences to optimize availability.
- Split Payments:
- Offers payment flexibility, such as charging 50% on checkout and 50% on shipping.
- Pre-Order Customer Experience:
- Provides clear UX, dedicated post-purchase emails, and a self-service portal for customers to manage their pre-orders.
- FTC Compliance:
- Ensures regulatory compliance when charging upfront for pre-orders.
Recent Developments
Recent Developments:
- Launch of the new Shopify app, enabling a self-serve integration with pre-order functionalities.
New Products Launched:
No information is available.
New Features Added to Existing Products:
- Enhancements to the pre-order management platform, including deeper configurations for splitting mixed ship-date orders and automated workflows.
- Integration with Shopify and Salesforce Commerce Cloud, offering extensive downstream compatibility and FTC compliance.
New Partnerships:
No information is available.
Case Studies
- Azio Beauty: Uses Purple Dot to optimize product launches and reduce storage costs.
- US Farm & Butchery Company: Improved their pre-order process efficiency and captured more sales.
- LØCI: Increased sales of out-of-stock products by 89%.
- Knockaround: Maximized pre-order sales with Split Payments, achieving 60% sell-through before product arrival.
Other Information
- Shopify App:
- Key Features:
- Customer cards vaulted on checkout and charged when ready to ship.
- Self-service cancel and amend tools with email updates.
- Pricing: Free installation for first 10 pre-orders, then $0.95 per pre-order.
- General Statistics:
- Sell-Through Before Stock Arrival: Up to 95%.
- Increase in Overall Sell-Through: Up to 50%.
- Reduction in Returns: Up to 40%.
Insights & Best Practices
- "The Reverse of Buy Now, Pay Later: Split Payments for Pre-Orders": Focused on operationalizing split payments to enhance pre-order experiences.
- "Building Customer Trust Around Pre-orders": Ensuring regulatory compliance in pre-orders to build customer trust.
For more information, contact Purple Dot at support@getpurpledot.com or visit their websites at [Purple Dot](https://www.getpurpledot.com).