The Foundr Podcast with Nathan Chan
492: How Branding Reduces Acquisition Costs with Richard Li of July
Jan 5, 2024
Richard Li, founder of the luggage brand July, shares how he survived the pandemic and created a luxury brand. Topics include: losing 100% of revenue in 2020, why retail is cheaper than digital ads, nailing product color and style, how branding reduces acquisition costs, using AI tools in ecommerce, and why brand is the strongest competitive advantage.
30:31
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Quick takeaways
- Branding is a powerful competitive advantage that can reduce acquisition costs in e-commerce.
- AI tools, such as forecasting models and automation, play a crucial role in optimizing e-commerce operations and improving customer experiences.
Deep dives
The Power of AI in E-commerce
The podcast episode discusses why now is the best time to start an e-commerce business, highlighting the impact of AI on the industry. The host introduces the Start and Scale 3.0 course, which has helped thousands of founders worldwide kickstart their businesses. The course focuses on leveraging AI to create brand names, logo designs, and product ideas. It also explores how AI can automate tasks, analyze customer data, and enhance customer service. The episode emphasizes that staying up-to-date with the latest tools and strategies, such as AI, is crucial in an ever-evolving e-commerce landscape.
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