#468 - Stop Competing on Price & Start Building a Brand That Belongs in Retail Stores

In episode 468 of the AM-PM Podcast, Kevin King interviews Yohan Jacob from Retail Bound about the importance of e-commerce sellers diversifying into retail to build stronger brands. Yohan shares insights on how retail has evolved, especially since COVID-19, with enhanced online experiences and buy-online-pick-up-in-store options. He discusses how retailers now use e-commerce sales and reviews as benchmarks for bringing products into stores. Yohan outlines the challenges faced by brands transitioning from crowdfunding to retail, emphasizing the need for strong margins, compelling packaging, and effective marketing strategies to drive traffic to retail locations. They delve into pricing strategies, the significance of being "retail-ready," and the necessity of driving traffic to retail partners through promotions, dealer locators, and sales associate training. The conversation also covers navigating payment terms, funding purchase orders, and exploring options like QVC and trade shows, with a focus on building relationships and avoiding common pitfalls such as undercutting retail prices on Amazon.