This episode is a masterclass in ecommerce buying from an ex-ASOS veteran. Learn how to strategically curate third-party brands and develop successful own-brand products by understanding customer personas and optimizing for exit margin. This is crucial for ecommerce operators wanting to level up their product selection and profitability.
Key takeaways
Prioritize understanding your customer's persona to inform all buying decisions, leading to higher conversion and customer loyalty.
Distinguish between intake margin and exit margin; focus on exit margin as the true indicator of profitability and strategically manage markdowns.
Foster a strong, collaborative relationship between buying and merchandising teams to ensure a cohesive product strategy and optimized inventory flow.
Develop a diverse brand portfolio by strategically selecting third-party brands and developing own-brand products to cater to varied customer needs and market trends.
Embrace online buying for its ability to offer a wider product assortment and better respond to rapidly changing fashion trends.
James Barron is a fashion buyer.With over 13 years at ASOS, and previous roles at Envy, Moss Bros, M and S, and Arcadia, there’s little James doesn’t know about either buying third party brands in or product development of own brand fashion.Hit PLAY to hear:James’ eCommerce journeyThe Importance of Understanding the Customer’s Persona in BuyingTips for Successful Buying In Brands and Products for Your eCommerce StoreAdvice on Developing Your Own ProductsCollaboration Between Merchandising and BuyingA Final Word on BuyingPlus, James’ top tips!Key timestamps to dive straight in:[03:36] Online buying offers more product options.[07:51] Understand customer, adapt sales, follow for rewards.[11:50] Build diverse brand portfolios, adapt to trends.[15:01] ASOS offered variety and convenience online.[18:31] North Face improved women's wear, increased market share.[22:08] Collaboration between buyer and merchandiser is essential.[24:24] Importance of exit margin over intake margin.[26:09] James shares his Top Tips!Access our notes here: https://ecmp.info/475Contact SHOPLINE >>> https://ecmp.info/shopline <p class='tdfocu
What does this episode say about product & merchandising?
Prioritize understanding your customer's persona to inform all buying decisions, leading to higher conversion and customer loyalty.
What does this episode say about dtc strategy?
Distinguish between intake margin and exit margin; focus on exit margin as the true indicator of profitability and strategically manage markdowns.
What does this episode say about retail & omnichannel?
Foster a strong, collaborative relationship between buying and merchandising teams to ensure a cohesive product strategy and optimized inventory flow.
What does this episode say about founder & leadership?
Develop a diverse brand portfolio by strategically selecting third-party brands and developing own-brand products to cater to varied customer needs and market trends.
What does this episode say about product & merchandising?
Embrace online buying for its ability to offer a wider product assortment and better respond to rapidly changing fashion trends.
