Tuesday, April 18

♻️ Is online resale doomed?

📰 TL;DR - This is a deep dive from Retail Dive into the precarious future of online resale. So, so many brands have launched resale channels, partnering with services like ThredUp and Trove. But are they actually profitable? It’s hard to say. And you’d think they would say if they were. The conclusion here is that resale may need physical stores to really work.

💡 Insight - This is certainly a hot take! But at the end, it touches on something important. Brands like REI have made resale a cornerstone of their operations. It’s part of not just their business, but their ethos. Does that mean they have a higher chance of success than brands that partner with ThredUp and then never give it a second thought? I’d say so.

➡️You can read the article here...

📈 Ritual Zero-Proof boosts AOV by 46.3% with this platform*

Ritual Zero Proof, a non-alcoholic spirits company wanted to drive more subscriptions and increase AOV.

They implemented Rebuy and guess what? Subscription revenue shot up 66% and AOV increased 46%.

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🔒 Customer retention tips and tricks

📰 TL;DR - This is a great Twitter thread on how to invest in customer retention for DTC brands. And these certainly are investments — like auditing your customer journey, monthly analysis, and marketing segmentation. These aren’t small lifts, but they could surely make an impact.

💡 Insight - You probably know quite well that customer acquisition has gotten mighty expensive for DTC brands. Investing in retention is a smart move — loyal customers will come back and spend more. For example, Alexa says that offering 10% is a pretty weak offer. What more can you do to keep shoppers coming back?

➡️You can read the tweets here...

🤖 When will chatbots get smarter?

📰 TL;DR - A new survey of 1,000 US consumers found that most people aren’t very impressed with the average retail customer support chatbot. In fact, 53% said their overall experiences have been “fair” or “poor.” Plus, 55% don’t even trust them. But, interestingly, the same people have favorable views of ChatGPT — 67% said they felt understood by it.

💡 Insight - The obvious conclusion here is that better chat AI exists, it just needs to be taken into the customer chatbot space. It seems inevitable that this will happen someday soon. I can definitely see a chatbot box popup that says “powered by ChatGPT.” Keep an eye out for innovations in this area.

➡️You can read the article here...

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