Return to the basics, do what Amazon does, and focus on these 3 areas to drive growth:
1. Selection, new products – improving old products to keep a relevant selection
2. Pricing, always be trying to ring the cost down to allow more pricing flexibility
3. Convenience, for e-commerce, this is shipping speed
So what do you do in practice to focus on these 3 pillars?
In addition to making your annual revenue goals, you should make goals around increased selection, decreased cost, and improved logistics.
If you are working in n1 of these 3 areas, you are improving your competitive advantage and driving the best inputs for retail growth.
What I like the most about this list for the aggregators and DTC – it has nothing to do with marketing. It focuses on the fundamentals of operating a retail business. Too often, aggregators are just pounding marketing for their business solutions and not getting results.
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