In Part 4 of our panel on the Hot Top Models of E-Commerce at our June CoE E-Commerce event, moderator Nina Curley, Editor In Chief of Wamda, speaks with panelists Ahmed Khatib, Founder of MarkaVIP, Mona Ataya, Founder & CEO of Mumzworld, and Paul Kenny, CEO of Cobone.
In this segment, panelists discuss customer loyalty programs and challenges of the Cash On Delivery (COD) payment option.
Ataya explains that Mumzworld is trying to earn loyalty by educating consumers and by targeting consumers in the prime window in which they will purchase products. By nature, she explains, Mumzworld’s consumers are loyal; moms generally keep some products for up to 2 years.
Khatib discusses the importance of accepting that you cannot always maintain a 100% stake in your company in order for it grows. He says that it is critical to lose that emotional attachement to a percentage; he would rather have a 1% stake in Mercedez Benz than 100% in a small unknown company in a local village.
Check out tips from the whole panel, click here to start at Part 1.
Please Note: Panelist Demet Mutlu asked to be removed from this video.