Online sales rule the world. An April 2021 Adobe study showed that global
e-commerce sales were hitting $4.2 trillion that year, with U.S. consumers
accounting for close to one-quarter of that spending. Australia has a similar
story. The pandemic forced many consumers to rely on e-commerce to get the
basics as well as the more one-off items to survive lockdowns, work, home
school, set up home gyms, and eat and drink.
Surveys of consumers in the United Kingdom, Japan, and the United States showed
online shopping is becoming the preferred method of grocery shopping for a
growing number of consumers. Over half of the consumers in all three countries
said they believe they are saving money by shopping for groceries online.
My guest today Priya Radia is a former lawyer turned serial entrepreneur. She's
the co-founder of four online businesses including two E-commerce brands, and
the creator of the Nine to Free Society - a community for E-commerce
entrepreneurs to grow and scale their brands.
Believing in a better way to live, Priya left her career behind to build
businesses that could create financial freedom, support her lifestyle and give
her time with her family. She's deeply passionate about helping others do the
same and contributing to a new narrative around what it means to work.
Priya shares in this show what she makes of these areas:
1. A collaborative research project completed by Forbes, Huffington Post, and
Marketing Signals, found 90% of all eCommerce (so online only) businesses
fail within the first 120 days of launch. What excites you so much about
eCommerce as a business model?
2. Why did she start her first online business, and some of the mistakes you
made that many others may relate to, especially if they have little time or
money to invest yet in fancy ideas like an influencer campaign to boost
sales?
3. How did you make the most of the early growth success of 18 x sales revenue
in the first six months?
4. What are some of the ways an online product business can become successful
and allow a business owner to have more "freedom" away from the tools? E.g.,
SEO campaigns?
5. Take away: What is your final takeaway message for us on The Politics of
Ecommerce?
To connect with Priya:
LinkedIn: https://www.linkedin.com/in/priya-radia-b409aa58/
W: https://getselfkit.com/