#413 - Omnichannel Online & Retail Strategy Advice For Big Brands with Steve Yates

Sep 19, 2024

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Listen to this insightful episode as we chat with Steve Yates, the founder of Prime Guidance, who brings a wealth of experience from his time at Dick's Sporting Goods, Amazon, and Woot. Steve shares valuable strategies for liquidating inventory, controlling the buy box, and optimizing brand presence on major platforms like Amazon, Target, and Walmart. We explore the benefits of using Woot for your inventory liquidations and discuss effective methods for brands to establish and enhance their e-commerce footprint.

In our discussion, we cover the intricacies of e-commerce consultancy and growth strategies, highlighting the options available for liquidating or donating excess inventory and the benefits of each approach. Steve explains how Prime Guidance supports sellers in optimizing their marketplace presence by providing tailored consultancy services, training internal teams, and offering strategic advice. We also touch on the challenges brands face when transitioning to Amazon and the importance of channel control policies and managing their own sales to improve profitability.

Finally, we talk about the complexities of inventory and pricing strategy, discussing the importance of channel control, product serialization, and the Amazon Transparency program. Steve shares insights on maintaining good relationships with retail giants and the significance of product differentiation in retail success. We also explore the emerging e-commerce opportunities on platforms like Walmart.com and TikTok, emphasizing the need for brands to adapt their strategies to each platform's unique algorithms and consumer expectations. Tune in to learn how to navigate the ever-evolving e-commerce landscape and accelerate your brand's growth.

In episode 413 of the AM/PM Podcast, Kevin and Steve discuss:

00:00 - Opportunities in E-Commerce for Big Brands
01:38 - Amazon's Acquisition of Woot.com
06:16 - Retail Strategy of Daily Deal Website
08:26 - E-Commerce Consultancy and Growth Strategy
14:40 - Revenue-Based vs. Fixed Fee Agency Services
17:21 - Navigating Resistance to Amazon Marketplace
20:25 - Strategies for Brand Channel Control
26:11 - Controlling Inventory and Pricing Strategy
28:50 - Dealing With Amazon Resellers
32:54 - Channel Strategy and Marketplace Differentiation
33:59 - Business Strategies for Retail Success
37:35 - Key Price Points for Product Placement
40:40 - Brand Strategy in E-Commerce Marketplaces
45:21 - Branding Strategies for Amazon Success
47:27 - Emerging E-Commerce Opportunities
50:59 - Optimizing Walmart Listings for Success
54:20 - Unscripted Conversations on AM/PM Podcast