The Real Truth About Running an eCommerce Business During COVID 19 | Kristi Soomer

Here's a summary of the great stuff that we cover on this show:

• Encircled, an online sustainable fashion brand, experienced a surge in e-commerce sales during the Covid-19 pandemic, particularly in athleisure wear, as consumer preferences shifted to online shopping.
• Supply chain disruptions during the pandemic led to inventory shortages and longer production times, prompting a strategic reassessment of product assortments to focus on core revenue-driving items.
• Kristi implemented the 80/20 rule to identify top-selling products, emphasizing the importance of understanding changing customer behaviors and preferences through community engagement and customer research.
• Key lessons learned include the importance of hiring for future business needs, cultivating a positive company culture, and establishing well-documented processes for resilience and scalability.
• Despite challenges, Kristi sees the post-pandemic period as an opportunity for e-commerce businesses to recalibrate, reevaluate core offerings and processes, and strategize for sustainable growth in the evolving consumer landscape.