E015: Kitsch's COO Jeremy Thurswell Joins, Omnichannel Deep Dive, Retail Masterclass & More
YouTube VideosAugust 02, 202301:27:49

E015: Kitsch's COO Jeremy Thurswell Joins, Omnichannel Deep Dive, Retail Masterclass & More

https://www.mykitsch.com/
Jeremy: https://twitter.com/JeremyThurswell?s=20

[00:03:12] Kitsch backstory
[00:12:14] Unintentional business success, Faire platform adoption.
[00:15:44] Omnichannel success, importance of D2C, event announcement.
[00:24:51] Omnichannel strategy targets incremental customer acquisition. Channel conflict creates internal tension and challenges.
[00:29:58] Physical retail needs unique products for success.
[00:35:54] Maximizing physical retail space is crucial.
[00:45:19] Think omnichannel, section in store, product breadth.
[00:47:59] Set up a shelf, see what it looks like.
[00:52:17] D2C dictionary: wholesale, specialty, mass market, club, convenience, independent.
[00:59:17] Wholesale strategy: advantage of independent retailers.
[01:05:16] Building credibility leads to trust and success.
[01:08:33] Keurig strategically expands brand through targeted distribution.
[01:13:53] Retail varies by environment, attracting different customers. Walmart values driving new customers, while big retailers aim to appeal to a broader income range. Ulta is popular with Gen Z and launching new products there is desired. Each retail environment requires expertise and a big-picture view. Limited physical space in retail adds value for strategic partnerships. Retail provides consistent revenue and margin consistency. Margin compression can be challenging for retailers. Contracts are pre-negotiated.
[01:19:21] The struggle with antiquated infrastructures. Whole Foods focuses on wellness, spa, and sleep products, placing them near aromatherapy items.
[01:24:15] Successful Kitsch power couple prioritizes relationship for business success.

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