In this episode, Jerry Hum, CEO and Co-founder of Touch of Modern, shares insights from his experience building and scaling a members-only e-commerce platform. Listeners will learn about the unique challenges and opportunities of a curated, flash-sale model, and how to differentiate in a competitive e-commerce landscape by focusing on a specific niche and audience.
Key takeaways
Building a members-only e-commerce site creates exclusivity and can drive repeat purchases through curated drops and limited-time offers, fostering a community around unique products.
Focusing on a niche (e.g., lifestyle products for men) allows for highly targeted merchandising and marketing efforts, leading to better customer acquisition and retention within that segment.
Leveraging a flash-sale model can generate urgency and excitement, encouraging immediate conversions and helping manage inventory effectively by selling through products quickly.
Differentiating through unique product curation helps avoid direct competition with mass-market retailers and creates a distinct brand identity.
Operating an e-commerce business successfully requires a deep understanding of logistics and supply chain to manage the flow of unique and often limited-edition products.
Jerry Hum is a Cofounder & CEO at Touch of Modern. Touch of Modern is a members-only ecommerce website and app focused on selling lifestyle products, fashion, and accessories to men. The company is based in San Francisco, California and was launched in March 2012.. Jerry sat down for an interview live from the NRF Big Show, and we covered a wide range of topics. Don't forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes. Episode 69 of the Jason & Scot show was recorded on Monday January 16th, 2017. http://retailgeek.com/podcast Join your hosts Jason "Retailgeek" Goldberg, SVP Commerce & Content at Razorfish, and Scot Wingo, Founder and Executive Chairman of Channel Advisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.
Building a members-only e-commerce site creates exclusivity and can drive repeat purchases through curated drops and limited-time offers, fostering a community around unique products.
What does this episode say about brand & content?
Focusing on a niche (e.g., lifestyle products for men) allows for highly targeted merchandising and marketing efforts, leading to better customer acquisition and retention within that segment.
What does this episode say about product & merchandising?
Leveraging a flash-sale model can generate urgency and excitement, encouraging immediate conversions and helping manage inventory effectively by selling through products quickly.
What does this episode say about founder & leadership?
Differentiating through unique product curation helps avoid direct competition with mass-market retailers and creates a distinct brand identity.
What does this episode say about dtc strategy?
Operating an e-commerce business successfully requires a deep understanding of logistics and supply chain to manage the flow of unique and often limited-edition products.
