You know that I'm not sold on the content published by Retail Dive ... they seem to like making money by talking about retailers who "could" go bankrupt. But something in an older article crossed my desk on Friday. Here's the article. And here is the quote.
- Kudla said. “And so when a lot of our peers launching in this DTC era were out raising $20, $30, $50, sometimes $100 million, they could afford to be a little more aggressive from a customer acquisition standpoint.” Vuori went a different direction than most. The company focused on organic customer acquisition, which to Kudla required creating high quality, differentiated products, and building strong relationships with suppliers and customers. That strategy is part of why Kudla thinks Vuori has been able to achieve profitability, alongside an early start with wholesale partners".
"Organic Customer Acquisition".
I know, I know, some of you are about to send the hate mail ... "I know I ask you to send me examples, but their example doesn't count because they are fashion and their gross margins allow them to do things we can't do."
If you repeatedly find ways to discount the free advice you're getting here, maybe the free advice isn't the issue?
Tomorrow I'll talk about gross margins ... because gross margins are really important.