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How Social Selling Company Bomb Party Uses NetSuite to Navigate Tariffs

How Social Selling Company Bomb Party Uses NetSuite to Navigate Tariffs

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 Learn more about NetSuite Planning and Budgeting: https://tinyurl.com/ra6wa79k In this episode of the NetSuite Podcast, cohost Megan O’Brien sits down with Jonny Holmes, director of finance at Bomb Party, a direct-to-consumer jewelry company that offers surprise jewelry reveals through live online parties. Megan and Jonny start by discussing Bomb Party, its growth and how Jonny ended up the company [1:43]. They then cover the impact of tariffs on Bomb Party and how the company is using NetSuite Planning and Budgeting to help navigate them [4:08]. Jonny concludes the podcast episode by giving some advice to business leaders trying to navigate global trade variability [17:29]. Follow Us Here: Bomb Party: https://www.bombparty.com/ Contact NetSuite Sales - https://social.ora.cl/6009wKalv Learn More about NetSuite ERP - https://social.ora.cl/6003wKaxv Learn More about NetSuite HCM - https://social.ora.cl/6007c4Kih Learn More about NetSuite Analytics & Reporting - https://social.ora.cl/6007c4znL NetSuite Customer Success Stories - https://social.ora.cl/6005c4zt9 Follow us here: LinkedIn: https://social.ora.cl/6000wKFhC X (Twitter): https://social.ora.cl/6007wK2zD Instagram: https://social.ora.cl/6003wK2Hv Facebook: https://social.ora.cl/6005wK2Dv --------------------------------------------------------------- Episode Transcript: How Social Selling Company Bomb Party Uses NetSuite to Navigate Tariffs 00:00:00:00 - 00:00:36:20 Unknown Hello, NetSuite listeners. Thank you so much for tuning in to the NetSuite Podcast. I'm Megan O'Brien, co-host of the podcast. We have an extra special episode in store for you all today. We know tariffs are top of mind for many businesses right now, and companies are figuring out the best way to handle them. So we invited Jonny Holmes, director of finance at Bomb Party, which is a direct-to-consumer jewelry company that offers surprise jewelry reveals through live online parties. 00:00:36:22 - 00:01:10:04 Unknown If you haven't seen it, I highly recommend checking them out. Customers purchase mystery items such as rings, necklaces or earrings, which are unveiled during these events, adding an element of excitement to the shopping experience. We discuss how Bomb Party has been using that sweet specifically, and that's what planning and budgeting and that sweet analytics warehouse to address tariffs, plan for addressing possible future trade policy changes, and the advice he has for business leaders trying to navigate global trade variability. 00:01:10:05 - 00:01:43:12 Unknown So stay tuned. You're not going to want to miss this episode. You're listening to the NetSuite Podcast where we discuss what's happening within NetSuite, why we're doing it, and where we're heading in the future. We'lldive into the details about the software and the people at NetSuite who are behind all the moving parts. We'llalso feature customer growth stories discussing the ups and downs of running a company, and how one integrated system can help your business continue to scale. 00:01:43:14 - 00:02:09:19 Unknown Let's just jump right in. So to kick us off, could you tell our audience a bit about Bomb Party and what you do at the company? Yeah. Bomb Party is a network marketing company. We started about eight years ago. I've been here for the last two years. So what we do is we the company, it really thrives on this surprise and delight type of marketing. 00:02:09:21 - 00:02:36:15 Unknown And so what that means is it is kind of like, well, you're just ordering products or jewelry in our case, and you don't really know what you're getting. So it could be one of maybe 30 different rings or earrings or necklaces or something, whichever one you order. And so that is like the driving force around. Everything that we sell, and especially from our owners, is that they want to surprise and delight customers. 00:02:36:15 - 00:03:00:08 Unknown And so everything that we sell drives that. So we sell rings, earrings, necklaces, bracelets, all sorts of things. And they all are sold in that type of thing where we sell to our wholesale reps that buy in bulk from us, and then they turn around and sell it to the end consumer. Most of it, they do it online. 00:03:00:10 - 00:03:20:14 Unknown A lot of it's through TikTok, you know, so maybe use other social media platforms. But for the most part, they'reusing TikTok and they sell these pieces of jewelry, on what we call a party. And it's just a live party. So they get on and customers join their party on TikTok. They place an order for whatever it is and then, live on TikTok, 00:03:20:14 - 00:03:43:19 Unknown The rep reveals what they have. And so it could be one of many different styles that we have for that collection. And then there is a chance that you could win, like a genuine diamond. So it's just ...

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