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028: How Saatva Disrupted the Mattress Industry and Built a $400M Brand with Ricky Joshi
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Entrepreneurs often follow a simple code: zig while others zag.
So while the DTC mattress industry adopted the online “bed-in-a-box” model, Saatva co-founder Ricky Joshi took a different approach, prioritizing white glove delivery, 24/7 customer service and brick-and-mortar storefronts to build a $400M mattress giant.
In this episode, Ricky tells the story of how Saatva became the seventh-fastest-growing privately held retailer in the U.S. by branching beyond e-commerce and embracing physical retail.
In addition to the story behind Saatva’s growth, you’ll hear Ricky share insights on how he assesses which cities to open stores in, how to determine whether or not to add new product lines, and how Saatva has embraced different verticals to 2x their Average Order Value without losing the customer service touch that helped build their success.
Key Takeaways with Ricky Joshi
- How Ricky uses the marketing efficiency ratio to determine where to double down in his business.
- The one “super advantage” that e-commerce brands looking to go into retail can latch onto.
- How using physical retail stores as a customer service hub can help companies get a leg up on their competition.
- What are the factors to consider when determining which locations to open a retail store in?
- How do you know when it’s time to take the leap to scaling?
- Why hasn’t Saatva chosen to expand internationally despite their U.S. success?
- How Saatva has doubled its Average Order Value over the course of its growth.
- How can retail companies manage the simultaneous challenges of logistics and inventory while weighing the desire to increase product lines?
- Why sticking to a game plan can help companies weather economic turbulence.
- Has Saatva seen any revenue slowdown in the face of recent economic conditions?
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To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit Retention.com/28
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