Simplifying Inventory, Doubling Growth in Q3 2024: How We're Building the Future of E-commerce Ops at Genie

Our goal at Genie is to make inventory management a breeze for fast-growing Shopify brands. As former operators, we craved a powerful yet simple platform to analyze and act on real-time stock and sales data.

Heading into Q4, we’re closer than ever to fulfilling that mission.

Our moonshot for Q3 was to help scaling brands get on top of their inventory in minutes. We enhanced the accuracy and customization of our insights, upgraded our purchase order capabilities, and doubled down on world-class customer support. With these upgrades, Genie makes it easier than ever to understand stock dynamics, make informed decisions, and replenish inventory in just a few clicks. And the results speak for themselves.

Extraordinary customer growth across new segments

In Q3, we grew our customer base with unprecedented speed, doubling our number of paid customers month over month. Partnering with these exciting brands, we’ve now tapped into brand-owned marketplaces and new segments like beauty, home goods, and the outdoors.

And as we expanded our roster, we also reached new milestones with Genie’s own platform by:

• Streamlining inventory operations for larger-scale customers with over 100K SKUs
• Generating POs worth a total of $3M in less than two months — all thanks to Genie’s reliable order recommendations and ease of use

These outcomes mean only one thing: we are right on track to turn the costly challenges of inventory management into a competitive advantage. And in the past quarter, we’ve kept our customers at the forefront of our key focus areas:

Focus #1: New product updates deliver time-to-value in hours

In Q3, we placed a greater emphasis on increasing brands’ time-to-value with more powerful and refined inventory management features. So, we made our platform even faster by:

• Launching Purchase Orders 2.0, the most comprehensive and intuitive Shopify PO system with over 12 features like auto-filled details for SKU quantities and suppliers, multi-currency tracking for landed and production costs, and seamless shipment and order management
• Adding 5+ unique data points, including “Health” and “Sales at Risk” statuses
• Automating recommendations for order quantities to ensure precise replenishments
• Deploying more bulk actions to quickly make product changes at scale and convert analyses into a PO

With these updates, brands can manage their inventory end-to-end in less than 12 hours after onboarding — something most inventory solutions take months to provide.

This speed is essential for million-dollar brands like Ornot, which manages 2,000 SKUs and 20,000 units while growing their business. These companies need instant, granular insights to optimize stock levels and drive higher profitability fast — and Genie was quick to deliver.

As a result, Ornot and other larger-scale businesses can evaluate their inventory levels in real-time, create custom views for their bestselling SKUs, and generate purchase orders in just a few clicks — effectively scaling without extra headcount or new, complicated processes.

Focus #2: Providing an exceptional customer experience at all costs

Over the last few months, we enriched our CX resources to help new and existing customers tailor their platform from the moment they connect their data. With these updates, customers have access to:

• Always-on service across phone, email, and live chat
• Tutorials for reporting, supplier management, and purchase orders directly within Genie
• A dedicated Help Center based on FAQs and customer feedback

Striving for fast, world-class support in every interaction, we also enhanced our own services, going above and beyond with custom features for every unique inventory situation.

Providing complete visibility into the building process for those solutions strengthened our partnerships even further. With this customer-led approach, Genie better serves brands whose product catalogs span over 5,000 SKUs, like Canada Bolts. Beyond offering out-of-the-box inventory insights, we also created tailored PO templates to help the fastener brand manage their leading suppliers more efficiently — fostering trust in our team and solution.

Focus #3: Fueling growth with an ambitious, high-performing team

Every moonshot needs a crew. In Genie’s early days, we looked for driven, independent, and optimistic professionals to join our mission — and we found them. Every product and customer win is only made possible by our dedicated team of engineers, product designers, and operational leaders.

Between getting new brands up and running on Genie’s platform and nurturing existing relationships, our team has kept internal efficiency high and turnaround times low. In Q3, we’ve been quick to set priorities, build plans, and action on every step thanks to our relentless ambition and high performance.

Our engineers have put in the hours to ensure Genie’s internal systems are ready to support businesses during Black Friday/Cyber Monday. All while refining upcoming features to prepare brands for Q1 of 2025. Executing these two priorities, we continue to respond to customer needs by building new features in days — so every client is equipped to succeed.

Kicking off Q4 with our most powerful feature to date

Genie’s actionable inventory data, detailed reporting, and purchase order capabilities have helped dozens of brands drive profitable growth in the last three months. And we are on track to exceed these results in Q4.

Starting strong in the next quarter, we’re polishing off one of our most requested features in time for the holiday season — inventory forecasting.

With this exciting new tool, our customers can capitalize on historical data, customer preferences, and seasonality to accurately predict stock levels during the busiest time of the year. Broader market trends will bolster these insights, ensuring brands can proactively adapt to unexpected shifts in demand.

Scale your business with end-to-end inventory visibility from Genie

To say Q3 was an exciting time would be an understatement. As we enter Q4, we will create even more value for our customers with seamless inventory management operations to scale more efficiently.

Ready to grow your business with real-time inventory insights? Book a demo with our team today.