Limited Supply

S8 E8: Our Top Secrets to Absolutely Smash Your Sales at Target

Jun 12, 2024

Diving into the pitfalls of DTC businesses transitioning to brick-and-mortar stores, emphasizing post-purchase follow-up for customer satisfaction, balancing physical stores with e-commerce strategies, and exploring retail collaborations and scent marketing strategies.

38:21

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Quick takeaways

Physical retail presence complements online sales for brand visibility and additional revenue streams.

Strategic selection of initial retailers impacts brand trajectory and requires high sales velocity for sustained success.

Deep dives

Retail Strategy: Multichannel Approach vs Dot Com Only

It is crucial for brands to adopt a multichannel approach rather than relying solely on online platforms like dot com for sales. The podcast emphasizes the importance of having a physical retail presence as a billboard and additional sales channel for brands. Discussions highlight the pitfalls of drop shipping through dot com platforms like Nordstrom, where brands risk losing control over margins and customer experience.

Personalized Shopping Experience Increases Sales Potential

01:30

Challenges and Considerations in Scaling Staff for Retail Operations

01:43

First Retailer Defines Brand's Path

01:12

Intro

2min

Exploring Nordstrom Going Private and Retail Strategies

2min

Retail Brand Strategies and Challenges

11min

Strategies for Profitability and Business Operations

2min

Maximizing Sales Through Personalization and Customer Engagement in Retail

18min

Analyzing Retail Collaborations and Scent Marketing Strategies

3min

Welcome back, ya 88s.

Quit trying to make brick-and-mortar happen. It’s never going to happen. Or at least not like you think it will. Nik and Moiz break down the common pitfalls DTC businesses make when it comes to opening up retail stores. How many stores are too many? And are you thinking about staffing in a realistic manner?

Speaking of brick-and-mortar stores, why aren’t places like Outdoor Voices or Alo focusing more on that post-purchase follow-up? If Moiz just threw down $500 on yoga pants, he wants to feel like the prettiest, pretty princess of them all. After all, isn’t focusing on retaining high-spending customers far less expensive than acquiring new ones? Nik and Moiz go over some possible solutions to increase post-purchase satisfaction.

Then, the guys play devil’s advocate. Sure, they just told you to stop focusing so much on brick-and-mortar stores, but they sincerely hope that didn’t make you throw all your hopes into dot-com-only strategies. They explain the value of selling your product in-store and explain what kind of selling velocity you need to stay on Target’s shelves.

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Twitter: https://www.twitter.com/moizali