The State of eCommerce in 2024 with Brendan Gillen

Blues Brothers Podcast

In this episode, Nathan interviews Brendan Gillen, an e-commerce expert and founder of Fight Gear Direct and the e-Commerce Academy. They discuss the performance of e-commerce in 2024 and the importance of innovation and adaptation in the industry. The conversation highlights the need for e-commerce operators to understand their numbers, focus on profitability, and find ways to increase average order value. The conversation covers topics such as branding, measuring success, customer acquisition and retention, and the use of AI in e-commerce.
Engage and follow Brendan here:
Youtube: https://www.youtube.com/@theecomacademy
Ecom Academy: https://ecomacademy.co/
Facebook: https://www.facebook.com/brendan.gillen
Instagram: https://www.instagram.com/brendangillen/
TikTok: https://www.tiktok.com/@theecomcoach
Takeaways

• E-commerce operators need to continually innovate and adapt to stay ahead in the industry.
• The performance of e-commerce in 2024 has been mixed, with some brands experiencing record growth and others struggling.
• Retailing can be challenging due to the lack of control over the supply chain and the need to differentiate from competitors.
• Understanding numbers and focusing on profitability is crucial for e-commerce success.
• Branding can provide pricing power and higher margins for e-commerce brands.
• Increasing average order value through add-ons and upsells can boost profitability. Branding is about positioning your brand in a certain market to attract a specific audience.
• Measuring success for each part of the business is crucial, and every role within the business should have a specific outcome that contributes to overall sales.
• Attribution in advertising is becoming more challenging due to privacy policies and changes in technology.
• Personalisation and the use of AI can enhance customer engagement and improve marketing strategies.
• Focus and consistency are key to achieving long-term success in e-commerce.

Chapters
00:00 Introduction and Background
01:19 Performance of E-commerce in 2024
05:31 Challenges and Benefits of Retailing
07:31 Understanding Numbers and Focusing on Profitability
10:46 The Power of Branding in Pricing
12:46 Increasing Average Order Value for Higher Profitability
25:20 Measuring Success for Each Part of the Business
28:48 The Challenge of Attribution in Advertising
30:59 The Value of Personalization and AI in Customer Engagement
36:58 The Significance of Focus and Consistency in E-commerce