Capitalism.com with Ryan Daniel Moran
How To Become A Millionaire In E-Commerce In 2024
Apr 8, 2024
2024 could be the best time to build an E-commerce brand with Thrasio filing for bankruptcy. Learn about real brand building and how to avoid the mistakes of Amazon aggregators losing billions. Discover the importance of building a loyal customer base and creating a brand outside of platforms like Amazon. Explore the human element in business success and the optimism for aggregator businesses in the e-commerce landscape.
23:43
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Quick takeaways
- Focus on building a loyal customer base by creating a strong brand for long-term success in e-commerce.
- Prioritize audience engagement, provide value, and foster customer relationships to succeed in the competitive e-commerce market.
Deep dives
Thiracio's Demise Due to Lack of Brand Building
Thiracio's downfall, despite raising $3.4 billion, stemmed from their failure to focus on building strong brands. Instead of acquiring quality brands, Thiracio, along with other aggregators, prioritized businesses with high platform exposure over brand building. The key lesson highlighted was the importance of utilizing platform exposure to establish a brand by creating a loyal customer base who trusts the company's offerings.
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