The Andrew Faris Podcast The Biggest E-Commerce Stories Of 2024
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Dec 28, 2024 Andrew Darian, Founder and CEO of Ecommerce Fuel, shares his insights on the future of e-commerce amid inflationary pressures. He discusses strategic pricing tactics businesses can employ to navigate rising costs and the evolving landscape of podcast sponsorships and e-commerce advertising. The conversation dives into the emergence of AI in e-commerce, its benefits, and potential challenges like consumer trust. Darian also addresses the ongoing competition between YouTube and TikTok for ad strategies, emphasizing community significance in the digital market.
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E-commerce & Macroeconomics
- Inflation and Fed rate cuts significantly impact e-commerce.
- Lower rates ease inventory financing and may stimulate M&A.
Raising Prices
- Inform customers about upcoming price increases, framing it as a temporary discount.
- Don't fear customer backlash; they rarely react strongly to price raises.
Rewarding VIP Customers
- When raising prices, reward loyal customers with exclusive additional discounts.
- This fosters positive customer relationships while increasing profitability.