The Friday Retailer Flex – Episode 28
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Friday Retailer Flex – Episode 28
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Insight and future profitability in e-commerce – with Ben Barenholtz- Quivers
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The Friday Retailer Flex – Episode 28
Fri, 10/1
SUMMARY KEYWORDS
quivers, retailers, brands, consumer, store, software, selling, orders, online, warehousing, bicycle, retail, customer, fulfillment, website, places, specialty, consumer behavior, bike, ben
SPEAKERS
Heather Mason, NBDA , Ben Barenholtz
NBDA 00:10
You are listening to bicycle retail radio brought to you by the National bicycle Dealers Association.
Heather Mason 00:16
Welcome to the Friday retailer flex a weekly pointed digests of inspirational and actionable insights you can implement today. take your business to the next level. This is NBDA President Heather Mason. If you’re a first time listener, be sure to check out the previous episodes, do us a favor and leave a review. This podcast is designed specifically for the bicycle industry dedicated to strengthening our retailers and cycling community. This week’s flex is about the bike boom and where we can find insight and future profitability in eecom. This podcast comes live from Canada Midwest, and I have a very special guest with me. Ben Baron holds VP marketing at quivers. The NBDA is thankful for our relationship with quivers and the support to our retailers. Alright, Ben, welcome to bicycle retail radio. Could you tell us a little bit more about yourself and your role at quivers?
Ben Barenholtz 01:05
Yeah, absolutely. Thanks for having me. appreciate having me on the podcast. So yeah, I’ve been Barry holds the VP of marketing of quivers, and we’re a software company that makes what we call commerce software. For specialty brands and retailers. We say commerce software, because we have a collaborative platform that crosses the spectrum from both the e commerce side as well as the fulfillment side. So we have a number of you know, kind of features and tools that helps brand and retailers with their e commerce operations, right as selling online becomes a bigger and bigger deal. So we can’t really ignore these days. But that’s not the end all be all right? There’s still physical retail and a lot of commerce that takes place after the purchase online. So we have a lot of tools that help with fulfillment of those orders, and that also help physical retailers, you know, run their business as best as possible. They’re on the ground, then I have been talking to so many people about quivers and retailers are like how do I get started? How can I work with whoever’s what’s the process? Yeah, for the retail side, it’s extremely simple. So the way our pricing model works out, you know, with brands, when they sign on, you know, there’s there’s a kind of typical software platform fees for usage and for their team, but our software is is user facing in both directions. So both there’s kind of a user interface for brands and it’s also user interface for retailers. As I said, it’s really about connecting these two groups, so that their online and offline, you know, commerce operations work hand in hand collaboratively and less at odds with one another. So for retailers, the process is actually super simple so they can get in and create a retailer account, it’s you know, we call it a fulfiller account, technically can be a merchant as well, but that’s a whole different discussion. So they can get on they create this account, right? And they can populate it and put their stuff in there. And what that allows them to do is they can search through quivers for brands they may already carry physically in store and see if those brands are already in quivers. So some of the brands they’re selling right now, you know on shelf may actually be using quivers and routing orders to other retailers as well. So those they can you know, there’s a, you know, as simple as hitting a button to ask to connect with those, and we have a customer success team can help facilitate that as well. Right? So it’s not entirely self service. So those retailers can connect with those brands they already know, right? And talk to him and say, Hey, I’m on quivers. Now, when you you know, take orders online on your ecommerce site, we would love to be a fulfiller you could route those orders star physical location, and we can email them last mile or do pick up in store etc. And it’s just as easy as that right and we make money when the retailers make money so we’re not going to charge them anything when they fulfill an order. You know, they take a big cut of that sale right for selling that item, we take a small percentage out of that. So it’s basically free to get started. For the retailers, they can start fulfilling orders, try it out, see if it works for them, you know, really no commitment, no overhead for them. And then for any brands they see on the platform that they’re not connected with that they don’t currently carry in store. They can go through our customer success team to try and get introduction to that brand and see if they can also you know perhaps start a relationship and start fulfilling for orders for those brands as well.
Heather Mason 04:27
It sounds like a win win. It’s absolutely free for retailers and you set it in a seminar at the show here yesterday. You said let’s be honest you don’t want to hear this. But the customer journey almost always is gonna start with the customer visiting the brand website if we can get those customers back to the retailer. We’re winning right?
Ben Barenholtz 04:45
Oh yeah, that’s always a that’s a little bit of spoonful of hard truth right? I always like to watch people’s reaction like tell him that. You know, we believe in this. I mean obviously Look, the way you sell software you don’t come up and build software and then like serve stuff reasoned solutions to people and try and sell them, you build software based on the problems that exist. So when I talk about these things, it’s not because it’s self serving that our software solves it’s like, we went out and listen to 1000s of brands and retailers and dug in on what the problems were and looked at the consumer behavior and went, Okay, if we bought software that did these types of things that would really solve those problems. So that’s what what we saw is, is like it or not, right? We’ve defined what we call specialty, right? We take specialty beyond specialty retailer, and we apply that to the brand level in the consumer level, when we look at the consumers and say, these specialty consumers that are buying high end, you know, highly manufacturer sporting equipment or products like bikes or things like that. They have a lot of particular wants and needs and expectations as consumers, but they’re, you know, they’re very different than the generalized consumer. So that’s gonna mean one thing for us, but they’re also starting to behave like every other consumer. So what I mean there specifically is this consumer group that you’re selling to is a specialty brand retailer, they both want to purchase online now. So they really do, right, I mean, yes, they are, they’re not showing up in store first thing, like a lot of times they’re in market for a particular bike, you know, not just any old bike, a novice might go shopping for any bike. You know, especially consumer, they have a high brand affinity and like it or not, chances are they’re ending up on the brand website first, that’s what the data shows, you know, Alexa score is going up, direct traffic to brand sites are going up, we’re seeing this all across the board, right. And of course, if a physical retailer that should make you a little nervous and make you feel left out, because they go and they type in giant calm, that’s one of the first places they go, they’re not going to Walmart, they’re not going to Rei not going to bat country icon, they literally type in giant comet, a giant person, and they go there, and they have an intent to purchase. They’re not there to just read up and read technical specs in the product pages like 10 years ago, and as an information on the website, and then go find a dealer. That’s not what they’re there for anymore. They’re their wallet in hand, they’re ready to purchase. They want to make purchases online, just like all the rest of us, you too. I do. We love the convenience of buying online. But here’s the big caveat. The good news, too, that there’s a second part of that consumer behavior that we’re noticing is, while these specialty consumers want to have that online experience, they understand this isn’t socks and razors, they don’t really necessarily just want to all have it delivered to their home, there is still this vital, vital, vital need that they have to be in store. It’s just that in store, part of it is pushing down the customer journey. So they don’t necessarily need to be in store at the point of purchase. But they’re picking options more and more, we see this going up right where they’re choosing ship to store or pick up in store options. So if they buy it online, they don’t necessarily want that certainly full frame breaks are hard to sell. I mean fulfill direct anyway, so there’s no issues there. But you know, even for a lot of items like skates or other things if you’re if you’re a hockey player, you’re like ice skates, having them sent to the store where you can then get in there’s a lot of customizations and fittings and knowledge and advice right repairs there’s a whole world it’s basically retailers doing exactly what they’ve always done right this is the old school part of it it’s that customer that was a customer of the brand’s website you basically get to steal them off with this order routing and take the fulfillment and fulfill that order in house they’re in the physical location and now they become your customer as well and you get them in there and you get to bake the boots you know you get you build the frame tune them up, you know check their brakes maybe cross amazing cross sell upsell opportunities for all the other stuff that going on and now they’re your consumer for life right? Yes, they started on the brand website but instead of fighting that behavior and having the animosity that started on the website, just let it start there and then take it over from there and make them your local customer have the front of house be about experiences and shows in community and service and repair and cleaning right there’s still a mess it’s not just that there’s a massive need for that if that is just an equal want there’s as much equal one for that in store experience as there is for the online shopping it’s just two steps in the journey yeah get them in the door and then while the hell out of them and keep them as customers for life and this is just free way for retailers to get involved with brands get these orders directed you’re skimming sales off the brand website frankly and the brands don’t mind me saying that you know there’s you might wonder what does this work for the brand but there’s a lot of stress that DTC puts on their own in house fulfillment capabilities and their learning we’ve had plenty of brands and platform who try and go full D to C right where they all these tons of orders start coming in they got these big dollar signs in their eyes these big dreams about selling like crazy high margins and they quickly find out you know that the operations it takes you know whether they’re corporate warehouse or three PL to ship all these ones twosies is really much more difficult they think and they’re centralized warehousing locations. So they’re looking at Amazon and going Oh hey, the way Amazon has these distributed fulfillment centers Why don’t we take our inventory instead of having it all bulked up in one place? Why don’t we we could be like Amazon and buy out some more property and start to put our you know, distribute our inventory out places closest to the consumer. So they’re the brands are starting to think through their distribution practices and then we walk into like, Guys, guys, you know what you’ve invented. Retail network. Why would you build a distributed warehousing system? When you literally have one, you literally have one and you’re already shipping freight out to all these places. Why not work with the retail network, you currently have big box and long tail specialty retailers and just collaborate together and use them as your distributed fulfillment center across the country, you already have product right next to the consumer. And I think, you know, in certain industries, like we were strong and wintersports, and we’ve seen them wake up to that over the last few years, and it’s going gangbusters like the chief Commercial Officer at technica global has this has been his plan and brought us on board in doing it. And he’ll it’ll tell you like, you know, this idea that retailers, you know, are still just a critical part of your go to market, even if you’re not fully wholesaling. Even if you’re selling online. I mean, just this is an absolutely integrated part of the global business plan. And like, it’s just an amazing case study. Like it really, really works.
Heather Mason 10:59
We’ve been talking about collaboration, we’ve been talking about unity, and it’s time that we step into this next chapter that our industry is now actively involved in. Consumers are starting their journey online be part of it, Ben, thank you. I mean quivers has been a phenomenal Association partner of NBDA. We’ve been doing lots of events together with the rest of the cabinet shows I think we’re gonna be on tour
Ben Barenholtz 11:22
on tour together Yeah.
Heather Mason 11:24
If our listeners have additional questions, they want to know more about quivers Where can I direct them?
Ben Barenholtz 11:28
Yeah, the website so quivers calm. There’s a demo request form on there. You can email us info at quivers Comm. You can find me on Instagram, it’s just been at Ben Baron holds. We’re also on Instagram at quivers Inc. But yeah, reach out to us anytime. Like I said, we have a customer success team it’s always happy to spend time onboarding retailers like that, you know, that’s no that’s not work for us. Yeah, we’re happy Yeah, we’re happy to do it. You know, get you started. Like I said, you know, it’s, the more everybody comes together and collaborates on this, you know, and instead of seeing it as a us versus them thing, the stronger the industry itself is going to get.
Heather Mason 12:08
I agree, I agree. All right. If you’d like to support the show, don’t forget to subscribe. Share your favorite episode with friends on social media. We appreciate your support. Thank you for listening now go be great.
NBDA 12:19
This has been bicycle retail radio by the National bicycle Dealers Association. For more information on membership, and member benefits, join us@nbda.com
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The NBDA has been here since 1946, representing and empowering specialty bicycle dealers in the United States through education, communications, research, advocacy, member discount programs, and promotional opportunities. As shops are facing never-before-seen circumstances, these resources offer a lifeline. Together, we will weather this. We at the NBDA will not waver in our commitment to serving our members even during this challenging time—but we need your support.
Now is the time to become a member as we join together to make one another stronger. Whether you’re a retailer or an industry partner, your membership in the NBDA is one of the best investments you’ll make this year.
Learn more about the benefits of being a member and join now.
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