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Building a Stronger Brand with Omni-Channel Markets
Manage episode 418227520 series 3378346
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#046 - In this episode, Justin Nuckols sits down with Gurmeet Matharu to chat the ever-changing world of e-commerce and discuss the strategies behind successful brand management in a digital marketplace. Focusing on the rise, evolution, and challenges of e-commerce, particularly during and after the COVID-19 pandemic, Gurmeet sheds light on the operational intricacies of managing a vast array of kitchen appliance brands at The Legacy Companies.
With nearly two decades of experience, Gurmeet shares his unique insights from transitioning from a technical back-end focus to a holistic front-end e-commerce strategy. The conversation touches on The Legacy Companies' swift response to the pandemic and how they leveraged predictive Amazon purchasing patterns to their advantage. With Prime Day looming, Gurmeet also discusses the challenges and opportunities this retail event presents for higher-end appliance brands and the importance of balancing ROI-driven goals with brand visibility and product differentiation.
Key Takeaways:
- Gurmeet Matharu's extensive background in e-commerce has shaped his current role at The Legacy Companies, where strategic acquisition and omnichannel presence are key.
- The Legacy Companies experienced a significant surge in e-commerce sales during the pandemic, attributed to strategic inventory management and a focus on essential home appliances.
- Gurmeet emphasized the importance of controlling channel strategy to avoid price thrashing and protect net PPM, especially in relation to Amazon's 1P versus 3P selling models.
- Observations of abnormal purchase order patterns from Amazon signalled the onset of the COVID-19 pandemic, showcasing the company's data-driven approach.
- The discussion about Prime Day highlighted the need to balance short-term deep discount strategies with longer-term brand-building goals, considering different consumer price sensitivities.
Resources:
Connect with Gurmeet on LinkedIn
Connect with Justin on LinkedIn
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