You Don’t Have to be the Biggest Retailer to Still Have a Base Hit Success!
Matthew Bertulli is the master of the changing retail landscape. He is the Co-Founder & CEO of Demac Media, an award-winning Commerce Agency and brings several of his own innovative products to market. He stopped by Inside LaunchStreet to talk about the massive shifts in retail that are killing the big dogs and presenting massive entrepreneurial opportunities and those willing to think differently.
Listen now to this episode on Inside LaunchStreet:
[1:14] Matthew explains that big shifts are happening in the retail world. Digital technology is making it much easier to disrupt the traditional consumer chain. Northface is making huge gains with 40% of their revenue being sold directly to the consumer.
[4:09] Tamara shares her recent shopping experience to her local mall. Most retail stores were devoid of customers. The stores that did have customers were the Apple Store, the Peloton Bike Shop, and the Tesla store.
[6:50] The retail shift has given entrepreneurs a prime chance to take on the monster retailers and CPG companies. How do I begin? The day of the order taker is gone, There’s never been a better time to enter the market.
[8:35] Tamara shares the example of Diamond and Sparkle. They have over a million followers! It’s never been easier to get in front of the people that want to follow you. Opening up a market or building your own has never been easier.
[11:12] How can entrepreneurs take advantage of this retail shift? Matthew introduces his product, Pelacase and how his company is eliminating supply chains and turnaround times. Matthew and team innovated the product but also the business model of a lightning-quick turnaround time.
[14:20] What tradeoffs did Matthew’s company have to accept for the quick turnaround time? Tamara advises that you have to think about what you have to give up versus what you want to get.
[17:20] Listen in as Matthew shares some mistakes that retailers often make. One: They go at it backward. Two: They’re going in with what’s good for them instead of going into it with a win-win situation. Build your own audience and find out who your audience is. Tell a different story by arming yourself with your data that supports the retailer’s business.
[21:55] Demac Media, Matthew’s business, is partnered with Shopify. They create more economic value than they capture for themselves. Shopify captures 30-40% of the value that they create. Listen in to learn how you can create more value than you capture.
[24:16] Matthew believes that ecommerce is going to turn the retail markets on its head and capture 25% of the market globally in the next five-to-eight years. Data is becoming like gold. Think of the opportunity in the shift. Entrepreneurs are sitting on a gold pile!
[26:36] Tune in to find out how Matthew’s local grocery store has created brand loyalty by teaching customers how to make smoothies and eat healthily!
[28:22] Matthew shares what brands he feels are doing well online. It’s important to remember that successful brands aren’t always billion dollar industries. Your chance of building a really great $10 million business is so much better now than ten years ago.
[31:00] Media often preys on fear and money. The Podcasts movement is great because it is exposing the many success stories of base hit entrepreneurs.
[33:34] Matthew started Demac Media to help merchants build and grow ecommerce businesses. In this process, they have started and acquired their own brands. He shares success from a Canadian company called Cuddlebug. Turnaround time on decisions is ten minutes. This is intoxicating! The retail shift is going to favor the small and the nimble, not the large.
[36:45] One of the reasons Matthew decided to go vertical and have their own brands is that it gives them an edge. It’s powerful to be in the market and experience actionable data that we have tried ourselves.
[37:48] How does Matthew juggle and balance it all? How does he put his own products in the market and help others do it?
[40:58] Connect with Matt.
Mentioned in This Episode:
LaunchStreet’s Innovation On Demand
LaunchStreet’s Innovation Quotient Edge Assessment