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24/01/2013

RESEARCH

We found a rewarding read of an interview with e-commerce veteran Michael Ross (founder of Figleaves). It'll take 5 minutes, but here's some inspiring excerpts:

What's important moving forward?

“On the horizon what I expect to see is retailers getting the basics right, so the next big thing is lots of little things. Having the right products, getting pricing right, answering emails – all of the things that you presume people are getting right and they just aren’t...retailers need to crack the basics first.”

What advise would he give to a new entrant?

“Reflecting on my time at Figleaves.com, I had the right data but was looking at the wrong things. We had amazing reporting on back-orders, the value of certain brands, and would take orders for out of stock items etc. but that was all wrong.The point was measuring our delivery of promise. What did we tell the customer when they placed the order? Telling the customer an order will be shipped in three days and doing it in a week, is bad."

What's the biggest change since you started?

“One of the most seismic shift from the anonymity of customers to familiarity. Increasingly, retailers will know all of their customers because they are buying online, checking-in at a shop or leaving their email at the point of purchase. Anonymity is lifted and that transforms the way retailers need to manage a business and the types of action you must take to succeed."

Full article here...

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