👉 Here's what I'd do if my biz was being impacted by TEMU
1. Compete on value, not price
2. Add value where they can't ( yet)
3. Get to know my customers even better
No point yelling at ppl for buying from there, we don't know their story and ppl can do what they want.
For example; if you're a toy shop, create some more value based on your understanding of your market -
Maybe start a play club, host child development experts, start a podcast addressing common parent worries you've been told in the store by yr customers.
Think about what they'll need next. If they also need nannies, then partner with a nanny agency, or start one. The idea here is to welcome that one customer and be their go to person throughout the whole parent experience, not just one little bit of it.
( Easier said than done, but that's what I'd be doing. It's like, you have a barber shop for men, and you also own a balding prevention spa, and a hat company, and a shampoo brand, and an electric razor company, and 'Babies first haircut' special occasion service with photo and lock of hair, Cuts for Kids, etc )
CURRENT MODEL Sort of:
you own a store or brand, could be a clothing brand, or tech, or anything.
You decide what you think will sell well next season.
You design what you want to get made.
You place your order with a distributor or fabricator.
The distributor places the order with a supplier.
The supplier places the order with the manufacturer
The manufacturer places an offer for raw materials (RMs)
The factory makes the items, or the distributor delivers them to you.
You recieve the order, unpack, put for sale in your store.
You get consumer to be aware of it and they buy.
That's a lot of middle folks, each clipping the ticket for their part. And slow
NEW MODEL?: Consumer to producer direct.
People all over the place, stare at their phones and click on things they like, to purchase them.
--> data gets sent IN REAL TIME to manufacturer that the 'viral cat brush' is trending up by 23 percent
-- > this triggers an order in the ERP for the RMs needed to manufacture more cat brushes
--> cat brush delivered to the consumer's door, in 2 days, for 99c.
The winner is the owner of the platform.
Because data.
Data is instant. Data is gold. Data is knowledge. Data is power.
Imagine chat gpt but on crack . ⚡
We'll see the evolution of influencers, into 24/7 live streamers. We watch them go about their business, all day long.
Social media Ecomm = Social Commerce.
We'd join groups where we all watch a person do their daily things and we buy what they put on their face, the bath mat they use, the lamp they have. We can chat and say what we like and don't like, etc etc. With one click. It's not everywhere yet. So don't panic.
We get to learn our customers, we get to 'surround sound' serve them, and if you want help getting closer to yours hit me up, it's one of my favourite things to do.
🌸 https://lnkd.in/gUnJD-pn
#dontpanicmrmannering
Author of The Advertising Survival Guide trilogy. Lecturer. Creative Director. Writer. Human prompter. Brand architect. Mediocrity repellant. Communication artist.
6moBravo Orchard, I feel like both you and Mischief have the strategy/creativity ratio dialed in and your work shows it. Chef’s kiss on long-form “Ohh-lala”