E577: What The Next 10 Years of E-Commerce
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The Big Takeaway
- Restructuring your business can lead to significant cost savings if Amazon's been eating away at your profit margins.
- Competition in e-commerce is now global. You're not competing against local businesses when selling items online – you have to stand out against the best of the best.
- Getting your inventory perfect has always been a big problem for e-commerce businesses.
- Growing e-commerce businesses can be capital intensive. To grow and scale, you need more capital than you have in most cases.
- To continue to succeed in e-commerce, you'll need a defensible moat like strong branding, regulatory compliances or intellectual property that can help protect against international competition.
- Last but not least: If you want to succeed, you have to put yourself in a place of discomfort.
Timestamps
- 00:00 – Navigating Business Restructuring
- 02:54 – Reflecting on E-commerce Evolution
- 06:41 – The Competitive Landscape of E-commerce
- 10:58 – The Power Shift: Platforms vs. Sellers
- 14:39 – Challenges of Inventory Management
- 22:10 – Future Trends in E-commerce
- 27:01 – Building a Sustainable E-commerce Business
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Thanks for listening!
Until next time, happy selling!
