Accelerating eCommerce for Electronics Brands: Lessons from Lenovo, Bose, Dell, and Best Buy

The Consumer Electronics industry is set for remarkable eCommerce growth, with forecasts projecting an increase of $16.1 billion U.S. dollars (+20.26 percent) between 2024 and 2029. This surge signifies the industry's rapid expansion and rise in competitiveness.

To capitalize on this surge and best connect with consumers, brands must stay attuned to their constantly evolving shopping habits. One of the best ways to do this is by crafting personalized commerce experiences that cater to these needs and streamlining the path to purchase. 

On The BRAVE COMMERCE Podcast, leaders from some of the world's largest Consumer Electronics brands have shared their personal experiences revamping commerce strategies. Let’s dive into the key takeaways from these discussions and explore how you can capitalize on them to drive brand growth.

Maintain constant dialogue with customers to navigate challenges effectively

“Promoting teamwork, having a shared goal, is honestly bigger for us than selling more stuff. We celebrate wins as often as we can.” - Carlo Savino, Lenovo

Carlo Savino, the Vice President of Americas eCommerce at Lenovo, shares strategies for brands to effectively navigate unprecedented supply chain issues: 

• During supply chain disruptions, maintaining a positive customer experience should be a top priority for brands
• Invest in real-time inventory management systems and reliable data streams to accurately assess inventory status, predict disruptions, and make informed decisions
• Transparent communication with customers about potential delays or stock

Simplify complex strategies into memorable statements that resonate with the team

“Align on the problem, make sure everyone knows their role in solving it, and see if you can get it all on a bumper sticker.” - Chris Cowger, Dell

Chris Cowger, Senior Vice President of Global eCommerce & Online Experience at Dell, sheds light on navigating turnaround strategies: 

• Aligning on the problem statement is the crucial first step towards effective turnarounds
• Establish a robust system for managing change effectively, incorporating regular meetings, reviews, and clear accountability measures to track progress and ensure alignment with business goals
• Prioritize adaptability and innovation as core business values, and embrace flexibility to stay resilient and competitive in uncertain times 

Continuously refine messaging based on insights for maximum impact

“To succeed in this, you need to clearly define who you are trying to serve, and what is ultimately the mission and the vision of the company.” - Jim Mollica, Bose 

Jim Mollica, Chief Marketing Officer of Bose, discusses storytelling, consumer insights, and content creation as crucial elements for brands to connect with their consumers:

• Create compelling stories and foster fandoms around your products for heightened consumer engagement
• Leverage first-party data insights to define your target audience clearly, shaping the mission and vision of your company
• Collaborate closely with product teams to ensure alignment and develop a unified voice of the consumer

Use advertising not just for sales, but to foster loyalty and trust

“Our stores and the retail teams that serve our customers are our greatest asset, not a liability.” - Keith Bryan, Best Buy

Keith Bryan, President of Best Buy, offers valuable insights on digital commerce, the integration of advertising and retail, and the importance DEI: 

• Understand that technology shoppers often have longer decision-making cycles and utilize first-party data to build consumer-centric advertising strategies 
• Stay adaptable and explore new media channels to engage with consumers effectively
• Integrate diversity and social responsibility into media sourcing strategies to connect authentically with diverse audiences and enhance brand image

How can you effectively implement these insights to drive growth for your brand?

From prioritizing customer experience amidst supply chain disruptions to crafting compelling stories that resonate with consumers, the above takeaways emphasize the importance of staying agile, aligned, and consumer-centric. In this fiercely competitive industry, top Consumer Electronics brands trust MikMak when it comes to creating premium consumer shopping experiences. MikMak ensures a seamless path to checkout at any retailer from anywhere across the entire media mix, including social media, retail media, programmatic, paid search, CTV, video, email, and brand websites.

Without MikMak, Consumer Electronics brands face challenges such as:

• Disjointed path to purchase
• Lost sales due to insufficient inventory data
• Lack of visibility into retail media performance
• Time-consuming implementation process

MikMak is not only focused on reducing friction for consumers but for brand partners as well by: 

• Enabling brands to understand how consumers engage with media and retailers
• Helping shoppers worldwide find and buy your products faster, in-store and online.
• Ensuring conversion at every consumer touchpoint
• Providing easy implementation of omnichannel where-to-buy experiences with customizable templates
• Boosting sales and basket size on brand websites with shoppable recipes
  
  
  
  Interested in how MikMak can help accelerate your commerce growth? To learn more, you can request a demo here.
  

If you're eager for more insight into the strategies shaping the future of Consumer Electronics commerce, tune in to The BRAVE COMMERCE Podcast on Adweek Podcasts, Apple Podcasts, or Spotify, and stay ahead of the curve.