Time to Market (TTM) measures the duration from a product's conception to its availability for purchase. Optimizing TTM is crucial for e-commerce businesses to stay competitive and capitalize on trends.
Time to Market is the total time it takes to move a product from the first idea to the final sale. This period includes every step like design, making the product, and shipping it to stores. A fast Time to Market helps a business stay ahead of competitors and meet customer needs quickly. This metric shows how well different teams work together. It involves product developers, the supply chain, and marketing staff. For physical goods, it covers finding materials and manufacturing. For digital products, it focuses on coding and testing. Managing this process well reduces delays without hurting product quality. Tools like WISEPIM help speed up this process by organizing product data in one place. This ensures that marketing and sales teams have the right information as soon as a product is ready.
Time to Market is the time it takes to move a product from an idea to being available for sale. In e-commerce, speed is a major advantage because trends change fast. Competitors often copy popular items quickly. Launching products or seasonal collections early helps you capture demand before the market gets crowded. Faster launch times lead to more sales and better profits. You can often set higher prices when you are the first to offer a new item. This speed also reduces the risk of being stuck with unsold seasonal stock. Tools like WISEPIM help speed up this process by organizing product data efficiently. This allows you to test new products and improve your catalog based on customer feedback.
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