The Time-to-Market (TTM) refers to the essential time span from the initial product idea or goods receipt to the final sales readiness of a product in the store. It is a crucial metric for success in retail and especially in e-commerce.
Definition
The Time-to-Market (TTM) precisely measures the duration of the entire process that a product goes through, from its conception or procurement to the point at which it is available to the end customer in the online store or physical store. A shortening of the Time-to-Market (TTM) is often a strategic goal.
Relevance and optimization
An efficient Time-to-Market (TTM) enables companies to react quickly to market requirements and secure competitive advantages. It is particularly critical in fast-moving industries and in online retail, where trends and customer needs can change rapidly.
Key factors for acceleration
- Agile product development and testing
- Optimized Supply Chains and Logistics Processes
- Efficient coordination between development, marketing, and sales
- Automation of process steps
Strategic importance
The reduction of the Time-to-Market (TTM) not only leads to an earlier market launch but also minimizes the risk of products or services becoming obsolete before their launch or that competitors will gain the initiative. It is an indicator of a company's innovative capacity and efficiency.