No Conflicts. Just Growth!
🚀 4 times brands powered through conflicts to massive success!
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Stuck in a vocabulary vortex ?😆
In this newsletter, you will find:
📈 No Conflicts Just Growth!
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📈 No Conflicts Just Growth!
E-Commerce brands benefit from multiple sales channels, reaching diverse audiences and offering convenient shopping experiences. But there's a catch: these channels can clash, causing headaches for businesses. RugPadUSA's Marquis Matson highlighted how using both physical stores and eCommerce platforms like Amazon can significantly boost traffic and sales.
Despite these upsides, channel conflict is a serious concern, potentially affecting sales performance. A BCG study shows that 59% of businesses could boost their annual revenue by 11-20% if channel conflict was eliminated.
But here's a silver lining: some savvy brands have turned this conflict into a golden opportunity to increase sales. We'll explore how, but before that!
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🏷️Outsmarting Conflict with Intelligent Pricing
Conflict Type: Pricing Across Different Channels
Conflict Details: Tortuga Backpacks faced the challenge of inconsistent pricing across various sales channels. Varying prices for the same product could lead customers to choose the cheaper option, negatively impacting sales in the higher-priced channel.
Solution: To tackle this, Tortuga Backpacks implemented intelligent pricing. They offered the latest versions of their backpacks at higher prices on their eCommerce website while selling older versions at a lower price on Amazon.
Key Takeaway: By strategically pricing their products across channels, Tortuga Backpacks catered to different customer segments, prevented direct competition, and minimized conflicts while driving demand.
🔪Revenue Cannibalization? Just DTC It!
Conflict Type: Revenue Cannibalization
Conflict Details: So, Nike found itself in a pickle with channel conflict and cannibalization. You know how eCommerce businesses are all about that omnichannel strategy? Well, it can backfire and eat into the revenue of other retailers. Existing stores end up losing sales to new channels, throwing a wrench in the whole omnichannel plan.