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Thatch in the brainchild of our founder, Dan Fairbanks. Dan’s experience in both retail and software development makes him uniquely able to identify and solve the foundational issues that persist in retail.
I was sitting in the back office of my running store that I’ve worked hard to build for the past 3 years, staring at the computer screen thinking “how am I going to pay these invoices?” I opened my stores to spread the joy of running, not sit on last season’s inventory and growing debt. Then my manager walked in and told me there’s a customer asking if we carry the latest New Balance model. Dang it: I forgot about futures orders. Nearly all small retailers know this sinking feeling in their gut. I want to carry everything, but I can’t take any more inventory risk. How do I keep up? How am I going to pay for new inventory? I was overwhelmed and discouraged.
I tried exploring new payment terms, opening new distribution channels, finding new brands that had a hit product. But because I was drowning in the day-to-day operations of my store I could never get these new programs off the ground. I ended up doing what many other small retailers do: I discounted the products to get them out of my inventory.
Eventually I realized that running is a hobby for me, but helping people get their products into the hands of the right customers is my passion. So I closed my stores and began the work of solving these problems for all small, speciality retailers.
This led me on a journey of research and discovery. I talked to thousands of retailers and hundreds of brands. I talked to big brands and small brands. I talked to industry experts, supply chain experts at Walmart, companies across the country.
I started to process what I learned. I took everything that didn’t work and threw it out. I make sure to save everything that did work. I finally put it all together into a process that fundamentally changes how retail commerce happens, a process that’s better for brands and better for retailers. Amazingly: everyone makes more money than before.
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Brands and partners should compliment each other, not struggle against each other
Brands should be able to have the same insight in brick and mortar sales as retailers do, or as D2C brands have in e-commerce sales
Retailers are better at building community, connection, and relationships than brands
Brands can be even better at understanding user needs when they know who their users are
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