How to reinvent your ecommerce to make it recession-proof

In the annual Coveo Holiday Report, 4000 consumers were interviewed, and 80% said they anticipate spending the same amount or more in this upcoming holiday season. How does this hold up against the volatility of today’s economy – and how can retailers prepare?

Alex Kantrowitz is an on-air contributor for CNBC and host of Big Technology podcast –  featuring interviews with tech disruptors like Meta, Amazon, Uber and the big minds behind them.  In this episode, Alex joins Diane Burley to discuss the current climate of the tech market, and how it influences ecommerce sellers and retailers. Alex tells us how the tech titans create a culture of innovation to stay competitive and how retailers can learn from this.                                                                                                                                                          
Despite the numerous shopper trends identified for the 2022 holidays, the upcoming season remains generally unpredictable for retailers. Shoppers are returning to life “in-person”, hoping to put the pandemic in the backseat. Furthermore, inflation is driving costs, reducing margins, and consumers are becoming more selective about what they pay for – what else lies ahead?

Tune-in to discover Alex’s suggestions for retailers to navigate through this volatile season and leverage the identified trends in the new year. If you’re a retailer looking to stay profitable and competitive in this economy – this one’s for you.
 
Alex Kantrowitz is the founder of Big Technology, a newsletter and podcast of all things featuring Big Tech from Amazon and Google to Microsoft. He is the author of Always Day One featuring over 130 insider interviews with insiders from Mark Zuckerberg to hourly workers. His book details how giants Amazon, Facebook, Google and Microsoft operate on Day One: by prioritizing innovation to stay on top. He has also been referenced by publications such as The New Yorker to the Wall Street Journal. 


Topics we cover: 


1:02 What do retailers need to know about the current state of the market?

1:46 Customers are predicted to shop the same amount or more this holiday season (Coveo Holiday Report) – how does that contract with the current market climate?

3:42 What is the impact of increasing costs of customer acquisition, markdowns and product returns on profitability?

5:11 How has innovation and reinvention played a role in keeping tech giants, like Amazon, relevant?
 
8:35 Why are growing retailers skeptical of reinvention and innovation?

10:20 How can retailers and companies promote a culture of innovation like the tech giants?

16:25 What do tech executives and leaders need to know to be profitable in this unpredictable climate?

17:40 Budgets are tightening – what is one thing retailers and ecommerce leaders should focus on?

20:40 What are the consequences for companies that aren’t willing to reinvent themselves? ?

22:25 How do retailers make smarter decisions to maintain profitability, using tools such as AI?

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Episode 14

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Diane Burley

Head of Content, Coveo