Taking Your Company Store To The Next Level

EXECUTIVE SUMMARY

This white paper presents an in-depth exploration of various strategies and tools necessary to elevate the performance and potential of your online company store. It underscores the significance of enhancing company experiences, simplifying gifting procedures, elevating incentive programs, utilizing logoed company gear, implementing innovative possibilities, streamlining operations, harnessing the power of data, and what sets Flywheel apart in the market.

ENHANCING COMPANY EXPERIENCES

The paper commences with exploring strategies aimed at enhancing company experiences, emphasizing the importance of intuitive user interfaces, seamless navigation, and excellent customer service to ensure a satisfactory and engaging user experience. This not only promotes customer loyalty but also drives sales.

SIMPLIFYING GIFTING

It then highlights the role of simplified gifting processes, arguing for streamlined and personalized gift giving solutions catering to diverse tastes and preferences. These approaches help foster a culture of appreciation and recognition in your company.

ELEVATING INCENTIVE PROGRAMS

The white paper discusses the importance of strategic incentive programs. It posits that well-planned incentive programs can increase employee engagement, boost morale, and drive performance. Moreover, they can enhance brand loyalty among clients when executed correctly.

THE POWER OF LOGOED COMPANY GEAR

The utilization of logoed company gear is highlighted as a potent tool for brand promotion. The paper argues that such items foster a sense of belonging among employees and serve as mobile advertisements, thereby increasing brand visibility and recognition.

INNOVATIVE COMPANY STORE POSSIBILITIES

The document delves into innovative possibilities for your company store, underscoring the potential of cutting-edge technology and creative solutions to stay ahead of the competition.

STREAMLINING OPERATIONS

The paper underscores the importance of streamlining operations, maintaining that efficient processes contribute to reduced costs, increased productivity, and enhanced customer satisfaction. It emphasizes the role of automation in achieving these operational efficiencies.

HARNESSING THE POWER OF DATA

Next, the white paper highlights the power of data. It suggests that data-driven insights, gathered through comprehensive reporting and analysis, can significantly influence strategic decision-making, identify growth opportunities, and optimize operations for maximum profitability. Finally, the paper concludes with a detailed overview of what sets Flywheel apart from others in the market. It highlights Flywheel’s combination of capable expertise, winning solutions, creative innovation, tailored approaches, cutting-edge technology, and passionate customer service. This white paper serves as a guide for businesses seeking to elevate their online company store, providing comprehensive strategies and insights drawn from industry best practices and emerging trends. Whether improving customer experiences, leveraging the power of branded gear, harnessing the power of data, or choosing the right partner like Flywheel, the paper delivers actionable insights for businesses at every stage of their digital commerce journey.

ENHANCING COMPANY EXPERIENCES

In the quest to improve employee experience and engagement in the contemporary digital era,introducing an online company store has emerged as a noteworthy strategy. The advantages of such astore extend beyond a mere shopping platform for employees; it bolsters morale, fosters brand loyalty,and simplifies procurement processes.

CONVENIENCE AND ACCESSIBILITY

Convenience and Accessibility: Convenience and accessibility are the two pillars upon which the successof an online company store is built. In today’s fast-paced world, individuals continually seek ways tostreamline their activities, making convenience crucial. According to the U.S. Census Bureau (2021),e-commerce sales accounted for 14.3% of total retail sales in 2020, reflecting consumers’ growingpreference for online shopping experiences that accommodate their schedules.1 An online companystore extends this convenience to employees, allowing them to browse and purchase company-brandedmerchandise without physical boundaries or time constraints. With 24/7 access, employees are nolonger tethered to traditional store hours. They can easily engage with the company store whenever itfits their schedule.2

Furthermore, the advent of mobile technology has propelled this convenience to new heights. In 2021,approximately 53.9% of all retail e-commerce is expected to be generated via m-commerce or mobilecommerce.3 This mobile accessibility allows employees to access the company store from any location- be it their homes, commuting, or even traveling- catering to their diverse lifestyles. These benefits notonly enhance the employee experience but can also lead to increased engagement with the companystore. According to an Adobe (2020) study, consumers are 70% more likely to convert to mobile-friendlysites.4 Implementing similar user-friendly design principles and practices in your online company storecan increase employee usage and engagement.

1 U.S. Census Bureau. (2021). Quarterly Retail E-Commerce Sales: 4th Quarter 2020.

2 Davies, H. (2022). The future of retail: trends for 2022. Retail Gazette.

3 Statista. (2021). M-commerce share of total digital commerce spending in the United States from 2017 to 2021.

4 Adobe. (2020). 2020 Mobile

A PLETHORA OF OPTIONS

Companies today represent a diverse workforce, with employees from various backgrounds, cultures,and age groups. This diversity is mirrored in their preferences, including what they choose to wear oruse. According to a study by Deloitte (2019), customization and personalization significantly enhanceoverall satisfaction for employees, thereby increasing their loyalty and productivity.5 An online companystore is an optimal platform to cater to this variety of tastes and preferences. It allows for a broadselection of branded apparel, promotional items, and custom merchandise. This diversity in the rangeof products accommodates the employees’ unique identities and needs. A study by PWC (2020)shows that 59% of consumers surveyed feel that personalization influences their shopping decision.6By offering a variety of choices, companies allow their employees to align their selections with theirpersonal style, furthering their connection to the brand. Furthermore, offering a wide range of productscan also positively impact employees’ perception of the company. A study by the Advertising SpecialtyInstitute (2020) found that 85% of people remember the advertiser that gave them a promotional item.7By providing a multitude of branded items, companies can boost their visibility and recognition amongemployees, fostering a deeper connection with the brand.

SIMPLIFYING THE EXPERIENCE

The digital transformation of the past decade has reshaped consumer expectations, particularlyregarding ease of use and efficient processes. The Baymard Institute (2020) estimates that 69.57% ofonline shopping carts are abandoned, with a key reason being a complex or lengthy checkout process.8This statistic underscores the need for businesses to optimize and simplify their purchasing processes.For an online company store, simplicity is critical. By replacing antiquated ordering systems with anintuitive, easily navigable online platform, companies can facilitate seamless transactions for theiremployees. This shift eliminates the need to complete cumbersome paperwork, wait for approvals, andendure long delivery times, thereby saving valuable employee time and company resources.

In addition to being user-friendly, such systems are often more efficient and accurate, reducing thelikelihood of order errors or delays. According to McKinsey & Company (2017), automation of businessprocesses can accelerate process times by up to 20%.9 With an online store, employees can placeorders instantly, track their progress, and receive their items more quickly, improving their overallexperience. Moreover, businesses can further streamline their supply chain by integrating the companystore with existing enterprise resource planning (ERP) or procurement software. Research by Accenture(2018) found that companies using integrated systems saw a 20% reduction in procurement costs.10

THE VALUE OF PERSONALIZATION

5 Deloitte. (2019). 2019 Deloitte Global Human Capital Trends.

6 PWC. (2020). Experience is Everything: Here’s How To Get It Right.

7 Advertising Specialty Institute. (2020). Global Ad Impressions Study.

8 Baymard Institute. (2020). Cart Abandonment Rate Statistics.

9 McKinsey & Company. (2017). The automation imperative.

10 Accenture. (2018). Drive Efficiency and Savings With Procurement Automation.

Personalization in a retail environment has evolved from a novelty to a crucial component influencingcustomer loyalty and satisfaction. In a corporate setting, the value of personalization extends evenfurther. Research by Deloitte (2020) shows that 1 in 4 consumers are willing to pay more to receive apersonalized product or service.11 An online company store that allows for customization can be aneffective tool to embrace and celebrate employees’ individuality. When employees can tailor productsto their liking, they will likely feel a greater sense of ownership and connection to the brand. A studyby Epsilon (2018) revealed that 80% of consumers are likelier to do business with a company thatoffers personalized experiences.12 Beyond boosting morale, customization fosters a stronger employeeand company bond. By offering personalized options, the company acknowledges and respectsindividual employee preferences. This gesture can significantly contribute to employee satisfaction andengagement. According to a report by the Society for Human Resource Management (2019), employeeswho perceive their workplace as caring and respectful of their personal lives showed a 38% higherengagement level.13

ELEVATING EMPLOYEE SATISFACTION AND ENGAGEMENT

An organization’s investment in an online company store strongly signals its commitment to employeesatisfaction and engagement. By providing a platform tailored to their needs, the company creates apositive work environment that fosters a sense of belonging and appreciation among its employees.Research conducted by Gallup (2020) has shown a direct correlation between employee engagementand various performance outcomes.14 The study found that teams with high employee engagementrates are 21% more productive and have 28% less internal theft than those with low engagement rates.By offering a personalized shopping experience, companies empower their employees, allowing themto express their individuality and association with the brand. This can foster an emotional connection,making employees feel valued and appreciated and boosting job satisfaction and productivity. In fact,according to a report by McKinsey (2017), employees who feel valued are three times more likely to beengaged at work.15 Additionally, an online company store can help improve employee loyalty by givingthem a sense of pride in representing the company. A study by the Corporate Leadership Council (2004)found that employees with high commitment to their organization are likely to perform 20% better andare 87% less likely to leave the company.16

Personalization in a retail environment has evolved from a novelty to a crucial component influencingcustomer loyalty and satisfaction. In a corporate setting, the value of personalization extends evenfurther. Research by Deloitte (2020) shows that 1 in 4 consumers are willing to pay more to receive apersonalized product or service.11 An online company store that allows for customization can be aneffective tool to embrace and celebrate employees’ individuality. When employees can tailor productsto their liking, they will likely feel a greater sense of ownership and connection to the brand. A studyby Epsilon (2018) revealed that 80% of consumers are likelier to do business with a company thatoffers personalized experiences.12 Beyond boosting morale, customization fosters a stronger employeeand company bond. By offering personalized options, the company acknowledges and respectsindividual employee preferences. This gesture can significantly contribute to employee satisfaction andengagement. According to a report by the Society for Human Resource Management (2019), employeeswho perceive their workplace as caring and respectful of their personal lives showed a 38% higherengagement level.13

ELEVATING INCENTIVE PROGRAMS

Incentive programs are not just about rewarding employees; they are strategic tools that can shape acompany’s culture, performance, and overall trajectory. With the evolving landscape of the corporateworld, these programs must also transform and ascend to the next level. An online company store isone of the most promising and potent tools to accomplish this.

11 Deloitte. (2020). The Deloitte Consumer Review - Made to Order: The Rise of Mass Personalization.

12 Epsilon. (2018). The Power of Me: The Impact of Personalization on Marketing Performance.

13 Society for Human Resource Management. (2019). 2019 Employee Engagement Survey.

14 Gallup. (2020). State of the Global Workplace

15 McKinsey. (2017). The overlooked essentials of employee well-being.

16 Corporate Leadership Council. (2004). Driving Performance and Retention Through Employee Engagement.

This section explores how an online company store can significantly augment and elevate your incentiveinitiatives, effectively celebrating your employees’ dedication, loyalty, and contributions. It delvesinto the transformative impact of point balances, the strategic use of gift cards, and the significanceof personalized, memorable experiences geared toward building a highly motivated and engagedworkforce.

THE POWER OF POINT BALANCES IN REWARDING WORK ANNIVERSARIES

The introduction of online company stores has revolutionized how organizations recognize thesemilestones. An increasingly popular method of acknowledgment is awarding points on workanniversaries, which can be redeemed for merchandise or services. According to a study by theIncentive Research Foundation (IRF), point-based incentive programs can increase job performance by22% and team performance by 44%.17 Furthermore, the IRF found that companies offering non-cashrewards, such as point systems, had an average revenue increase of 9.6%.18 By uploading points to anemployee’s account, organizations offer a tangible token of appreciation for their contributions. Thesepoints translate into a form of currency that employees can use to select their rewards. This allowsemployees to choose a reward that resonates with their personal preferences rather than receiving astandardized gift. This personalization of rewards holds a significant impact on employee engagementand satisfaction. According to a survey conducted by One4all, 70% of employees reported they wouldwork harder if they felt their efforts were better recognized, and personalized rewards are a key aspectof this recognition.19 Moreover, the act of personally selecting a reward adds an emotional layer to theexperience, further deepening the sense of appreciation. This process creates a memorable connectionbetween the employee’s achievement and recognition, reinforcing positive behavior and fosteringloyalty to the company.20

CRAFTING PERSONALIZED AND MEMORABLE EXPERIENCES

Personalization is at the heart of meaningful employee recognition. The ability to choose rewards froman online company store provides a level of freedom and personal relevance that conventional, onesize-fits-all rewards cannot match. This choice-driven approach personalizes the recognition experienceand creates a memorable connection between the reward and the achievement that led to it. A reportfrom Bersin by Deloitte underscores the importance of personalized recognition, noting that companiesthat score in the top 20% for building a “recognition-rich culture” have a 31% lower voluntary turnoverrate.21 This demonstrates the impact of personalized rewards on employee engagement and retention.The freedom to choose one’s rewards significantly enhances the perceived value of the recognition,leading to more satisfied and engaged employees. A survey by Globoforce revealed that whenemployees have a say in the type of recognition they receive, they are nearly 50% more likely to feelhighly valued, 34% more likely to feel empowered, and 29% more likely to feel happier at work.22

17 Incentive Research Foundation (2021). Non-Cash Rewards: Increase Performance and Revenue.

18 Incentive Research Foundation (2019). The Impact of Non-Cash Awards.

19 One4all (2020). The Impact of Personalized Rewards.

20 Corporate Leadership Council (2004). Driving Performance and Retention through Employee Engagement.

21 Bersin by Deloitte (2012). The Employee Recognition Market: What You Need to Know.

22 Globoforce (2019). The Impact of Personalized Rewards

An online company store facilitates this personalization by offering a broad range of merchandise,allowing employees to select rewards that align with their preferences and values. This autonomycan boost employee satisfaction levels and encourage increased effort and engagement. Creatingpersonalized and memorable experiences for employees also reinforces the behaviors andachievements being rewarded. A study from the Journal of Personality and Social Psychology foundthat more memorable rewards can have a “halo effect,” leading to a stronger association betweenperformance and reward and fostering a longer-lasting motivation.23

REDEFINING EMPLOYEE RECOGNITION INITIATIVES

Integrating an online company store into your employee recognition initiatives can redefine howyour organization motivates, rewards, and retains employees. By providing a user-friendly platform,a seamless point redemption process, and a wide array of merchandise options, you can create anengaging and positive reward experience that bolsters employee loyalty, morale, and continuousperformance improvement. In a world where 66% of employees say they would likely leave their job ifthey didn’t feel appreciated, according to Gallup, revolutionizing your approach to employee recognitionis no longer a luxury—it’s a necessity. An online company store can serve as a central hub for incentiveprograms and years-of-service celebrations, fostering a stronger sense of community and sharedpurpose among your employees.24 The user-friendly platform of an online company store simplifiesthe reward selection and redemption process, making it a pleasurable experience rather than a chore.According to a study by Capterra, software with high usability can increase employee productivity by50%.25 Thus, a seamless and intuitive interface significantly enhances the overall reward experience,increasing employee satisfaction and engagement.

The convenience of a smooth point redemption process also plays a significant role in enhancing thereward experience. A report by Bond Brand Loyalty found that 68% of customers say they would changewhere they shop for a better rewards scheme, indicating that the ease of redemption is a crucial factorin the perceived value of rewards.26 Moreover, the extensive array of merchandise options availablethrough an online company store ensures that every employee can find a reward that truly resonateswith them. This aligns with the findings of a Globoforce report, which suggests that companies with themost sophisticated recognition practices are 12 times more likely to have strong business outcomes.27

THE POWER OF LOGOED COMPANY GEAR

In today’s highly competitive business world, establishing a strong, recognizable brand is a criticaldeterminant of success. One innovative approach to achieving this is through the power of logoedcompany gear

23 Weaver, K., Garcia, S. M., & Schwarz, N. (2012). The Presenter’s Paradox. Journal of Personality and Social Psychology, 103(4),663-681.

24 Gallup (2019). State of the American Workplace.

25 Capterra (2021). The Impact of Software Usability on Employee Productivity.

26 Bond Brand Loyalty (2020). The Loyalty Report.

27 Globoforce (2019). The Impact of Recognition on Employee Outcomes.

Providing your employees with branded merchandise is not merely a marketing tactic; it’s a strategythat instills pride, fosters a sense of belonging, and boosts engagement. It is with this understandingthat online company stores come into play, offering a tailored, efficient, and engaging platform for youremployees to acquire logoed gear.

CUSTOMIZED SHOPPING EXPERIENCE

Incorporating an online company store into your operations enables us to collaborate closely with you toselect the perfect products for your store. This approach ensures that your logos are applied flawlessly,thus creating a consistent and professional image that aligns with your brand identity. A study by thePromotional Products Association International (PPAI) found that 89% of consumers remember theadvertiser if they received a promotional product they liked.28 This highlights the power of personalizedand liked promotional items in promoting brand recall. It’s not just about giving a product; it’s aboutgiving one that resonates with the recipient. Moreover, consistent and accurate branding on everyitem does more than enhance brand recognition. It also instills a sense of pride and professionalismamong employees. A study by the Advertising Specialty Institute found that employees who receivelogoed company gear feel more engaged and connected with their company.29 Furthermore, an onlinecompany store offers a tailored shopping experience, enabling employees to select products thatalign with their preferences and lifestyle. A study by Deloitte found that 36% of consumers expressan interest in purchasing personalized products or services, indicating the power of personalization inenhancing customer satisfaction and engagement.30 Therefore, the integration of an online companystore into your business operations offers a multitude of benefits. By providing a customized shoppingexperience, you promote your brand and foster a sense of pride and professionalism among youremployees, enhancing overall job satisfaction and engagement.

TAILORED TO YOUR SPECIFICATIONS

The beauty of online company stores lies in their flexibility and adaptability. They can be fullycustomized to meet your organization’s unique requirements, which extend to various aspects likestore login details, product visibility, and payment options. This level of customization is crucial toproviding a seamless shopping experience that is relevant and user-friendly for your employees. Theability to customize your store to your specifications is supported by research. According to a study byEpsilon, 80% of consumers are more likely to purchase when brands offer personalized experiences.31This emphasizes the importance of personalization in driving engagement and conversions. Moreover,personalization also extends to your online store’s user experience (UX). A report by Forrester revealedthat a well-designed user interface could boost conversion rates by up to 200%, while improved UXdesign could yield up to 400% conversion rates.32 By customizing aspects like store login details,product visibility, and payment options, you enhance the UX of your store, making it more intuitive andeasy to navigate for your employees.

28 PPAI (2020). Consumer Study.

29 Advertising Specialty Institute (2020). The Power of Promotional Products.

30 Deloitte (2020). The Deloitte Consumer Review: Made to Order: The Rise of Mass Personalization.

31 Epsilon (2018). The Power of Me: The Impact of Personalization on Marketing Performance.

32 Forrester (2016). The Six Steps To Perfect Personalization.

Customization also allows for better alignment with your organization’s brand guidelines and aesthetics.Ensuring that your online store reflects your brand’s look and feel creates a cohesive brand experiencethat reinforces your identity at every touchpoint

EFFICIENT MANAGEMENT AND CONTROL

Adopting an online company store can greatly improve your business’s efficiency and control overpromotional product spending. With the capability to track and monitor orders in real-time, you canmanage your company’s resources more effectively and reduce the administrative workload associatedwith traditional procurement methods. Research conducted by the Aberdeen Group supports thisassertion, finding that companies that have implemented online procurement systems report 22%lower labor costs.33 This reduction in labor costs is primarily due to the automation and streamliningof purchasing processes that consume significant amounts of time and manpower. Additionally,online procurement systems are shown to reduce processing times by 61%, further reinforcing theircontribution to efficiency.34 Faster processing times lead to quicker order fulfillment, which enhancescustomer satisfaction and loyalty. On top of reducing labor costs and processing times, online companystores offer increased transparency and control over spending. A study by Levvel Research showedthat companies with a centralized procurement solution had better visibility over their expenses,leading to 19% less rogue spending.35 Finally, by easing the purchasing process and providing real-timeinventory and order tracking, online company stores also contribute to a better user experience for youremployees. This ease of use and improved control can lead to higher satisfaction rates and increasedengagement with your branded merchandise.

INCREDIBLE FEATURES AT YOUR FINGERTIPS

Online company stores have powerful features designed to augment your shopping experience. Theseinclude secure user permissions, efficient inventory management, personalized tiered pricing models,streamlined payment methods through account balances and gift cards, promotional incentives viacoupon codes, valuable insights through custom data collection, order control through managerapproval processes, seamless shipping integrations, and a rewarding system through point balances.Each feature creates an engaging, personalized, and efficient employee shopping experience. Bytransforming your employees’ shopping experience, an online company store can help to enhanceengagement, boost brand loyalty, and increase overall satisfaction. Whether your goal is to improveefficiency, strengthen brand identity, or foster a sense of community among your employees, logoedcompany gear can make a powerful impact.

INNOVATIVE COMPANY STORE POSSIBILITIES

An online company store can be a dynamic tool that supports diverse business functions and cultivatesa potent brand presence. It fosters a brand ecosystem that leverages the power of branded merchandiseand promotional products across numerous aspects of a company’s operations.

33 Aberdeen Group (2019). The State of E-commerce in Distribution.

34 Ardent Partners (2020). The State of ePayables 2020: Driving Value in the Age of Intelligence.

35 Levvel Research (2020). 2020 Procurement Insight Report.

SALES AND MARKETING SUPPORT

Your sales team can harness the potential of an online company store to acquire various brandedmerchandise and promotional items that act as brand ambassadors and relationship builders.36Customizable merchandise enables businesses to engage customers tangibly, driving brand recognitionand recall. For instance, Keller’s (1993) Brand Equity Model highlights the importance of creating a strongbrand presence, with branded merchandise being a significant contributor.37

HOLIDAY GIFTING PROGRAMS

Trade shows are critical venues for companies to showcase their capabilities and products. An onlinecompany store can provide you with customized promotional items that not only embody your brandbut also serve as conversation starters.38 Eye-catching merchandise can attract potential clients, createopportunities for interaction, and consequently generate valuable leads.

TRADE SHOW PROGRAMS

The concept of gift-giving in business, especially during the holidays, is crucial in maintainingrelationships with clients and employees. An online company store allows you to offer a range ofthoughtful gifts that represent your brand and express your gratitude.39 This system also simplifies thegifting process by centralizing selections and making them accessible to your audience.

SAFETY PROGRAMS

Online company stores can help support and enhance your safety programs by providing easilyaccessible safety gear, uniforms, and other necessary equipment. This not only ensures compliancewith safety regulations but also promotes a culture of safety in the workplace.40

UNIFORM PROGRAMS

Uniforms help create a sense of unity, professionalism, and brand identity among employees.41 Anonline company store can simplify uniform distribution and allow employees to select the appropriateuniform items, ensuring consistency across the organization.

36 Liu-Thompkins, Y. (2019). Seeding viral content: The role of message and network factors. Journal of Advertising Research, 59(4),465-478.

37 Keller, K. L. (1993). Conceptualizing, measuring, and managing customer-based brand equity. Journal of Marketing, 57(1), 1-22.

38 Cavanaugh, S. (2013). Trade show objectives: a model and an investigation of their value for exhibitors’ performance. Journal ofBusiness & Industrial Marketing, 28(5), 367-376.

39 Goodman, J. K., Kellaris, J. J., & Mathur, M. (2012). A study of intense emotional and social responses to music. MusicPerception: An Interdisciplinary Journal, 30(1), 73-90.

40 Zohar, D. (2010). Thirty years of safety climate research: Reflections and future directions. Accident Analysis & Prevention,

42 (5),1517-1522.

41 Kwon, K. H., & Lennon, S. J. (2009). What induces online loyalty? Online versus offline brand images. Journal of Business Research, 62(5), 557-564.

NEW EMPLOYEES & EXISTING EMPLOYEES

With an online company store, you can deliver tailored onboarding kits and recognition items to newand existing employees, which help create a sense of belonging and foster a positive company culture.42The availability of company swag further boosts this sentiment and can play a role in enhancingemployee engagement.

STREAMLINING OPERATIONS

The management of an organization can indeed grapple with the daunting tasks of order management,inventory handling, and administrative responsibilities. Incorporating an online company store offers atransformational solution by automating and streamlining these operations, freeing up valuable timeand resources for strategic growth initiatives.

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AUTOMATED ORDER MANAGEMENT & EFFICIENT FULFILLMENT PROCESSES

An online company store enables automated order processing, eliminating error-prone manual dataentry and tedious order collection via spreadsheets.43 This technology-facilitated approach to ordercapture and recording enhances operational efficiency and mitigates the risks associated with humanerror. The fulfillment process becomes significantly less cumbersome with an online company store,which handles order fulfillment by shipping items promptly and accurately to designated locations.44This eliminates the time-consuming activities of product kitting and inventory management, therebyincreasing operational efficiency

EASY ACCESS FOR EMPLOYEES & EFFORTLESS MANAGER APPROVALS

Online company stores offer employees quick and efficient access to the merchandise they require,obviating the need for management to intervene.45 This level of convenience enhances employeesatisfaction and reduces the administrative load on management, freeing up their time for morestrategic activities. Additionally, the approval process, often a tedious administrative chore, becomesseamless with an online company store. It centralizes all approvals, mitigating the risk of rogue productsand ensuring necessary authorization for all orders.46 This strengthens accountability and control withinthe organization.

COMPREHENSIVE REPORTING TOOLS

The advent of an online company store signifies the end of manual report generation. Advancedreporting tools embedded within these stores provide accurate and real-time insights into ordermanagement.47

42 Cable, D. M., Gino, F., & Staats, B. R. (2013). Reinventing employee onboarding. Organizational Dynamics, 42(2), 123-133.

43 Gunasekaran, A., Patel, C., & Tirtiroglu, E. (2001). Performance measures and metrics in a supply chain environment. International Journal of Operations & Production Management, 21(1/2), 71-87.

44 Rabinovich, E., Windle, R., Dresner, M. E., & Corsi, T. (2007). Outsourcing of integrated logistics functions: An examination ofindustry practices. International Journal of Physical Distribution & Logistics Management, 37(5), 353-374.

45 Frohlich, M. (2002). E–Integration in the supply chain: Barriers and performance. Decision Sciences, 33(4), 537-556.

46 Kumar, K., & van Hillegersberg, J. (2000). ERP experiences and evolution. Communications of the ACM, 43(4), 22-26.

47 Chen, F. (2001). Market segmentation, advanced demand information, and supply chain performance. Manufacturing & Service

The readily accessible data on sales, inventory, and more, empowers managers to make informeddecisions, moving away from assumptions and estimations

STREAMLINED PROCUREMENT PROCESS

An online company store can dramatically simplify procurement as a centralized platform for allpurchasing activities. This can eliminate the complexities and redundancies associated with managingmultiple suppliers.48 Moreover, it enables stricter compliance enforcement and enhanced inventorycontrol, reducing rogue spending.

HARNESSING THE POWER OF DATA

In the contemporary digital era, data-driven decision-making is not just an advantage but a necessityfor businesses striving to maximize efficiency, profitability, and overall growth (Chen, Chiang, & Storey,2012). In this context, the comprehensive reporting capabilities of an online company store serve as avital tool for success, providing essential insights into various aspects of business operations.

ACCESS TO ESSENTIAL DATA

In today’s data-driven business landscape, access to key information forms the bedrock of strategicdecision-making and is fundamental to achieving operational excellence. Our online company storeunderstands and responds to this imperative by offering comprehensive reporting options that serve asa treasure trove of crucial insights.49 The importance of data as the lifeblood of business strategy cannotbe overemphasized. Recognizing this, our online company store is designed to provide seamless accessto a rich array of information.

From sales figures and inventory data to product-specific and account-related details, our robustreporting capabilities make the data you need readily available at your fingertips. Sales data, forinstance, offers invaluable insights into customer buying behaviors, patterns, and preferences, enablingyou to fine-tune your sales and marketing strategies and drive revenue growth.50 Similarly, real-timeaccess to inventory data allows for efficient inventory management, reducing the risk of stockouts oroverstocking and ultimately improving your bottom line.51 The utility of data lies not just in its availabilitybut in its actionable nature. By providing comprehensive, up-to-date, and relevant data, our onlinecompany store empowers you to make informed, data-driven decisions that are timely and strategic.52This facilitates agile decision-making, allowing your business to swiftly respond to market dynamics andstay ahead of the competition.

Operations Management, 3(1), 53-67.

48 Gallien, J., & Alexandrova, M. (2004). Supply chain inventory management and the value of shared information. ManagementScience, 50(11), 1639-1653.

49 Kumar, V., Anand, A., & Song, H. (2017). Future of retailer profitability: An organizing framework. Journal of Retailing, 93(1), 96-119.

50 Chen, H., Chiang, R. H., & Storey, V. C. (2012). Business Intelligence and Analytics: From Big Data to Big Impact. MIS Quarterly,36(4).

51 DeHoratius, N., & Raman, A. (2008). Inventory record inaccuracy: An empirical analysis. Management Science, 54(4), 627-641.

52 Davenport, T. H. (2006). Competing on analytics. Harvard business review, 84(1), 98.

Whether making procurement decisions based on inventory data, devising promotional campaignsdrawing from sales data, or strategizing product development in line with product performance data,the accessible and detailed data from our platform serves as a solid foundation for your strategicchoices.53

COMPREHENSIVE REPORTS

Sales performance and inventory management are two critical business areas, and our comprehensivereports tackle this head-on. By providing granular details, these reports offer an in-depth view ofyour operation.65 For instance, sales reports dive into revenue, customer segmentation, productperformance, and other related parameters. With sales making up approximately 60% of the total costsfor an online retail business, this level of detail is vital for optimizing profits and customer satisfaction.54Similarly, inventory reports deliver insights into stock levels, product turnover rates, and supply chainefficiency. This is essential, as studies suggest businesses can reduce holding costs by as much as30% by managing inventory effectively.55 Our comprehensive reports distill complex datasets into keyperformance metrics that give you a clear understanding of your store’s performance. Such metricsmay include conversion rates, average order value, customer lifetime value, and gross margin returnon inventory investment.56 These reports also allow for trend identification, which is fundamental inpredicting future business patterns and adjusting strategies accordingly. A McKinsey study found thatorganizations that leverage predictive analytics had a 5-6% better performance than businesses thatdidn’t use this approach.57

DRIVE SUCCESS WITH DATA

In the digital age, the value of real-time and accurate data cannot be overstated. As per a report byMcKinsey, businesses that harness data-driven insights can increase their profit margins by a whopping60%.58 Thus, leveraging data from your online company store can be a formidable asset, empoweringyou with invaluable insights into your store’s performance and, ultimately, driving business success.Data serves as the compass that guides decision-making in a business landscape that is increasinglycomplex and volatile. Access to real-time and accurate data enables well-informed decisions, mitigatingrisks and maximizing opportunities. In a survey of 633 executives by PwC, 63% agreed that data helpsthem make decisions more quickly and confidently, validating the instrumental role of data in decisionmaking.59

53 Wang, G., Gunasekaran, A., Ngai, E. W., & Papadopoulos, T. (2016). Big data analytics in logistics and supply chain management:Certain investigations for research and applications. International Journal of Production Economics, 176, 98-110.

54 Kumar, V., & Reinartz, W. (2012). Customer Relationship Management: Concept, Strategy, and Tools.

55 Raman, A., DeHoratius, N., & Ton, Z. (2001). Execution: The missing link in retail operations. California Management Review,43(3), 136-152.

56 Bendoly, E., Blocher, D., & Bretthauer, K. M. (2018). Analytics and the lean practitioner: The role of lean Six Sigma in businessanalytics. Business Horizons, 61(1), 73-83.

57 Bughin, J. (2016). The case for digital reinvention. McKinsey Quarterly, 1, 1-13.

58 Manyika, J., Chui, M., Brown, B., Bughin, J., Dobbs, R., Roxburgh, C., & Byers, A. H. (2011). Big data: The next frontier for innovation, competition, and productivity. McKinsey Global Institute.

59 PWC. (2014). Big Decisions™: PwC’s Global Data and Analytics Survey 2014.

Analyzing data from your online company store also aids in identifying growth opportunities. Thisincludes understanding customer buying behavior, market trends, and the performance of variousproduct categories. A study by Bain & Company found that companies using data to identify growthopportunities had a 131% higher likelihood of financial success.60 Data also prove pivotal in optimizingoperations for maximum efficiency and profitability. Businesses can streamline processes, reduce costs,and enhance customer satisfaction through sales, inventory, and logistics data insights. Accordingto a report by Deloitte, companies that leverage data to optimize operations can witness a 20-30%improvement in their supply chain efficiency.61 When properly harnessed, data becomes a powerful tooldriving success in online retail. By aiding informed decision-making, identifying growth opportunities,and optimizing operations, data fuel businesses toward increased efficiency, profitability, and growth.Hence, embracing a data-centric approach in managing your online company store can be instrumentalin steering your business towards enduring success.

WHAT SETS FLYWHEEL APART FROM OTHERS

Transforming your business through an online company store has the potential to create a seismic shiftin your operations and market presence. However, the significance of selecting the right partner totranslate your vision into a tangible, functional, and successful store cannot be overstated. Allow us toguide you through why Flywheel is the premier choice for launching a standout online company store.

SUPERIOR EXPERTISE

Flywheel is backed by a reservoir of deep-seated knowledge and extensive experience, both crucial increating and operating successful online company stores. Our team of seasoned professionals is adeptat understanding and navigating the nuances of designing and implementing effective e-commercesolutions tailored precisely to your business requirements. When you choose Flywheel, rest assuredthat your store is under the aegis of industry-leading experts.

RESULT-DRIVEN SOLUTIONS

At Flywheel, we are steadfast in our mission to help your business scale new heights. We firmly believein and work towards empowering your business to be a frontrunner in its respective industry. Ourdedicated team goes above and beyond, leveraging their expertise to equip you with the tools andsolutions crucial for your business to excel. We are deeply invested in your success and committed tooutperforming your expectations at every milestone.

CUTTING-EDGE INNOVATION

Flywheel thrives on creativity. We are fervent about infusing your online company store withgroundbreaking ideas and fresh approaches. Our ‘out-of-the-box’ thinking sets us apart, ensuringyour store distinguishes itself from the competition, engages your audience effectively, and creates amemorable impression.

60 Bain & Company. (2018). Big Data: The organizational challenge.

61 Deloitte. (2022). Supply Chain Analytics: How to Use Your Data to Drive Efficiency and Profit.

BESPOKE SOLUTIONS

We at Flywheel appreciate the uniqueness of each business and understand that a generic approachis simply insufficient. We position ourselves as solution architects, investing significant time incomprehending your unique challenges and objectives. Our solutions are meticulously tailored to alignwith your needs, guaranteeing that your online company store is primed for success

STATE-OF-THE-ART TECHNOLOGY

Leveraging top-tier technology, Flywheel elevates your online company store to the next level. Ouravant-garde platform has advanced features that empower your online company store. Whetherfrictionless order management or intuitive user navigation, our technology ensures efficiency, userfriendliness, and visually appealing aesthetics.

UNMATCHED CUSTOMER SERVICE

Customer service is more than a function at Flywheel - it’s our passion. We prioritize your satisfactionand strive to deliver an unmatched, seamless, and delightful experience from initiation to execution.Our dedicated customer support team stands ready to assist you at every juncture, assuring you receivethe highest caliber of service and support throughout your journey.

The significance of choosing the right partner for your online company store cannot be overstated,and Flywheel stands as a formidable contender. Our unique blend of expert knowledge, result-drivensolutions, innovative thinking, tailored approaches, advanced technology, and unmatched customerservice sets us apart. Delay no longer in unlocking the limitless potential of your online company store.

Reach out to Flywheel today, and together, let’s propel your business to unrivaled heights of success.

CONCLUSION

In wrapping up, the significance of evolution, innovation, and the right strategic alignment in the digitalera cannot be overstated for businesses striving for competitive advantage and sustainability. To trulystand out and thrive, businesses need to actively enhance company experiences, simplify the processof gifting, take incentive programs to new heights, capitalize on the power of logoed company gear,explore innovative company store possibilities, optimize operations, and utilize the might of data. Theseelements are the building blocks in taking your online company store to the next level.

In the fast-paced, constantly evolving landscape of e-commerce, selecting a partner who can journeywith you, comprehend your unique challenges, and bring the right solutions to the table becomesparamount. Flywheel distinctively positions itself as more than a platform provider; we are your partner,a collaborator wholly invested in your success across all business operations. Flywheel’s unique blendof seasoned expertise, commitment to innovation, and track record of delivering winning solutions setus apart. Our dedicated team, with its deep-rooted understanding of the e-commerce industry, ensuresyour business needs are met and exceeded. Our focus remains on providing solutions tailored to yourunique challenges and goals, ensuring every solution perfectly fits your business

Our robust platform, designed with cutting-edge technology, provides an advanced e-commerceenvironment. We prioritize features that offer seamless order management, user-friendly navigation,and appealing aesthetics, offering an efficient, easy-to-use, and visually engaging online storeexperience. We at Flywheel understand the pivotal role of data in today’s business world. We offercomprehensive reporting features, arming you with precise, real-time insights into every facet of yourbusiness – from sales performance to inventory levels. These data-driven insights empower you tomake informed decisions, spot growth opportunities, and streamline operations for peak efficiency andprofitability. In addition to our technology and solutions, our exceptional customer service sets us apart.Our team is not just dedicated; they are passionate about ensuring your satisfaction. We aim to providea seamless, enjoyable experience, and our support team is always ready to assist you at every stage ofyour journey.

By choosing to partner with Flywheel, you gain access to all these unique offerings and become partof an unwaveringly committed community to your success. We are here, ready to assist in takingyour online company store to unprecedented heights. With Flywheel, growth is an outcome and acontinuous journey we undertake together. Contact Flywheel today and embark on this journey tobusiness success.

With Flywheel by your side, the possibilities are limitless.