Tim Goletz, CEO of Day One Digital, Shares His Thoughts on the Impact of the Coronavirus in Regard to the e-Commerce Industry
Meet Tim Goletz, CEO of Day One Digital, one of the top full-service e-commerce agencies in America that helps manufacturers improve their operations on Amazon & Walmart. He’s an expert on all things e-commerce, and we were fortunate enough to get his thoughts on the impact of the coronavirus regarding the industry.
Before launching Day One Digital, Tim cut his teeth in the e-commerce industry at Amazon as a Vendor Manager within the Consumables and Hardlines categories.
Prior to Amazon he also spent time working in CPG as a member of Johnson & Johnson’s Finance Leadership Development Program.
Tim gave us his thoughts on how COVID-19 is impacting Seattle, the nation, and e-commerce. “Living in the epicenter of the U.S. coronavirus outbreak, I’ve witnessed Seattle residents clearing the grocery stores shelves in panic. Limited inventory at individual store locations hinders retailers from quickly restocking the shelves. The availability, convenience factor (social distancing), and a broader selection provides e-commerce with the opportunity to create numerous customer solutions during a time like this. I truly believe the coronavirus is going to be a breakthrough period of consumer education for many categories online; especially consumables.” – Tim Goletz.
Tim provided us with some solutions that were unique to most agencies inputs on the narrative. While other agencies are urging companies to throw dollars at fear-based ad campaigns, he’s suggesting companies don’t jump on this bandwagon and take a far more holistic and ethical approach to their fulfilment strategies.
“We are advising clients to turn off or reduce ad spend on their top items until they have a better understanding of their inventory position. The products that remain in stock throughout the demand spike will organically win in the long run due to limited consumer options. Also, the “savings” from pausing any advertising can be shifted to future periods when the cost-per-click is cheaper which typically results in a better return on ad spend. Our hands-on, data-driven approach has provided clients with actionable insights, maximized sales, improved profitability and a simplified supply chain. As a result, our clients will build customer trust and realize long term value from new and existing e-commerce customers.” – Tim Goletz
To learn more about Tim’s insights, don’t hesitate to connect with him on LinkedIn(https://www.linkedin.com/in/tim-goletz) and head over to Day One Digital to see what he and his team are up to in Seattle.