Online marketplaces have been booming amid social distancing measures and retail store closings. Imran Khan, CEO of Verishop, an e-commerce platform that combines quality curation and discovery, joined us to discuss how to capitalize on this opportunity and turn the unexpected gains into permanent benefits.
Imran also discusses why it is essential to keep up with customer preferences in such a competitive environment, the value of diversity, and how his company, Verishop, has managed to maintain healthy growth throughout the last three months.
The Fast Five
After every Simulmedia Live episode we detail the most captivating minutes of the show that you need to hear. If you missed the show, we’ve got you covered with the essentials.
Here are your fast five:
1. Capitalize on any unexpected growth.
Imran describes how Verishop saw incredible growth in home and beauty categories when apparel started to decline in April. By shifting your brand to meet customer demand, you can keep up with trends and capitalize on growth in areas that may not have been predicted to boom.
2. Be passionate about solving consumer problems.
Imran urges brands to take the time to truly listen to the problems consumers are facing before jumping to solutions. It is essential to genuinely explore the consumer experience and have a team who is passionate about improving the brand and believes in its success.
3. Don’t make it all about the numbers.
Traditional e-commerce brands focus on driving consumers to their site and converting them to boost their metrics. Imran says that focusing too much on the stats can actually hinder growth. He believes Verishop has been so successful, even in such volatile times, because it can seamlessly integrate into the lives of consumers and bring them a source of entertainment, joy and inspiration.
Find out more about Verishop here.
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