This is a Quora question I was asked. My answer as follows. That depends. You really need to maximize your average order value (AOV), ideally above $75 in order to make the e-commerce operation pay for itself and earn a profit. If you can do that, then yes. Subscription orders and repeat customers will help [...]
Feature image: Some categories of brick-and-mortar retail have seen healthy growth, via Deloitte . This visual and additional content about it is contained in the Visual Dataset. Platform Summary I've had on my list to publish my format for consumer product feedback surveys and was recently asked how to do that, so I finally [...]
Feature image: Since 2017, there has been a 40 basis-point average decrease in operating margins across retail, via Deloitte . This visual and additional content about it is contained in the Visual Dataset. Platform Summary I came across a nice summary on innovation, called “The Art of Discovering Breakthrough”. It is another look at [...]
If you want better results, then forget about setting goals. Focus on your system instead. You do not rise to the level of your goals. You fall to the level of your systems. Via James Clear and Atomic Habits.
This is a Quora question I was asked to answer. By margins I am going to assume net margin, which is net income. Think of the flow of money in a consumer goods business as a way to help you improve margins. I have a spreadsheet model accompanying this graphic here. In the [...]
Feature image: Ad types seeing greatest increase in net purchase likelihood. This visual and additional content about it is contained in the Visual Dataset. Platform Summary We've brought forward a few years of progress and change in a few months, especially in retail and e-commerce. Brick and mortar continues to get harder and more [...]
Here is a simple model to determine success of product sampling in e-commerce. I was presented with some quick performance metrics on an e-commerce product sampling campaign for a supplement startup, which included the cost of the sample plus shipping ($.70), the average order value ($39) and the response rate at 20%. That got my [...]
This is a Quora question I was asked to answer. I don’t look at ROI in terms of consumer products or ecommerce because that number is not as meaningful due to its wide range across categories, channels and geography. EBITDA, net profit margin, payback period, and revenue-to-funding are metrics I prefer. Based on that, [...]
This is a Quora question I was asked to answer. There are a few reasons: Help differentiate the brand better against competitors. You want to capture attention so you use packaging to do that, and if you look like everyone else, then it is hard to do that. Take a walk down a retail aisle [...]
Feature image: Fiber energy usage. This visual and additional content about it is contained in the Visual Dataset. Platform Summary Marketing and sales channels can be crowded with many advertisers. It is always good practice to try and advertise in those channels that are least crowded. For example, social digital is always popular and [...]
