#804: The Ultimate Market Buying Tool Every Boutique Owner Needs

Boutique Chat

Ashley Alderson

Entrepreneurship, Business, Marketing

4.9 • 867 Ratings

🗓️ 24 March 2026

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

What if the biggest inventory mistakes in your business are happening before the product ever arrives?

Ashley Alderson is joined by Ulla Hald, founder of FAVES, to talk about how boutique retailers can buy smarter by planning ahead, tracking purchases in real time, and staying on top of what's ordered, what's arriving, and what still needs attention. They unpack why buying without a system leads to confusion, overbuying, missed categories, and cash flow problems, and why the most successful retailers approach market with intention instead of impulse.

You'll learn:

Why so many retailers still buy without a real plan
How Faves helps track products, pricing, delivery dates, and categories
The importance of knowing what you bought before you leave market
How better buying leads to better cash flow and fewer inventory mistakes
How successful stores use planning, team communication, and vendor follow-up to win

Ulla Hald & FAVES:

Website: thefavesapp.com
Instagram: @theFAVESapp

Join The Boutique Hub

____________________________

Ashley Alderson: Instagram

Transcript

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0:00.0	Welcome to the Boutique Chat podcast where we're going to help you build a profitable,
0:03.8	sustainable business without you having to sacrifice your profitability, your family, or your sanity.
0:10.2	Each week we're going to dive into real conversations with retailers who have been exactly where
0:13.8	you are and industry experts so you can learn and know exactly what to do next, all in community
0:19.1	over competition. Whether you're just getting started or you're growing past an eight-figure business,
0:23.7	you're in the right spot.
0:24.8	So let's get into it.
0:25.9	Welcome to this week's episode.
0:31.8	Hey guys, welcome back to the podcast this week.
0:34.2	Ola, I'm seeing.
0:35.5	Hey, if anyone not asking there.
0:44.4	If anyone has been to our showroom in Dallas or really to any market with us, I feel like that's where I see you most often, you are a staple of our hub community and our hub team.
0:51.1	And for anyone who has not had an opportunity to meet you yet, I'm just so glad that you're on the podcast today. Thanks for joining me. I'm so thrilled to be here. Thank you, Ashley. So good. Well, let's jump into it, Ola. I'm always amazed when I hear people say, what is Faves? I don't know what that is yet. So jump into it. Tell us all about Faves, what it is, and how it works. Absolutely. So Faves is an app that we've built for retailers to manage buying. So it's an app or platform really, but they will use the app when they're going to market as a way to keep track of what they purchased. And actually, before they go to market, in the app, they will then have a buying plan.
1:31.1	They will be able to see what am I supposed to be looking at.
1:33.8	And while at market, they will capture the buying into the app.
1:36.4	So they always know, like, what did we buy of sweaters?
1:39.7	What's coming in in November?
1:42.0	Did we buy enough brown for this part of the season?
1:47.1	Did we get any Westernware?
1:48.6	They'll be able to visually see what the purchase, but also steer the financial aspect
1:52.6	and being able to see how, you know, when they order things.
1:55.8	So imagine like if Instagram had a baby with Excel,
	...

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