Bob Dufour: It’s having someone who can start understanding the psychology of that consumer and the opportunities presented to digital retailers. At least in my experience, that’s a big missing gap for somebody who really understands those needs during that journey, especially as millennials start taking hold and as their purchasing power gets bigger. I think they’re
Bob Dufour: Another one that we see a lot is the ability to easily connect partners. I think there’s a technical integration opportunity out there for showing how people can connect. Those are all tied together. Having the products in this ancillary space, having the product suppliers, being digitally enabled, and having technical connections that
Sramana Mitra: In terms of trends, is there anything else that you want to share? Bob Dufour: I think for me, it’s digitalization driving price transparency accelerated by these aggregators, and the importance of having ancillary strategy. Sramana Mitra: What are some of the open opportunities in the general space that you would encourage entrepreneurs
Sramana Mitra: Very interesting. The insight that is interesting here is the core versus non-core products and optimizing margins selling non-core products while people are shopping on the core. Bob Dufour: One of the things that I would say, as far as my overall position goes, would be if you’re getting into digital marketing and
Bob Dufour: The outcome for the digital distributor is that because of the transparency, their margins are getting compressed severely. A lot of times, people use the analogy of the grocery store. You may be very aware of what you’re paying for certain big-ticket items but when you come to the checkout counter, no one really
Sramana Mitra: Let’s take maybe a couple of your customers from different sectors and walk us through the use cases of how they use your product. Bob Dufour: One of the things that’s common to all of our customers is that as they go online and as their business becomes more digital, price transparency increases
This interview delves into a somewhat obscure aspect of e-commerce: margin optimization through non-core product recommendations. Quite an interesting subject in its own right. Sramana Mitra: Let’s start with some context about yourself as well as the company. Bob Dufour: My background is in a couple of different disciplines—statistics and analytics, direct marketing, and psychology.