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eCommerce Strategies With Economic Headwinds With Todd Hassenfelt
Manage episode 407098425 series 3557752
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Todd Hassenfelt is the Global Digital Commerce Senior Director of Strategy and Execution at Colgate-Palmolive, an innovative growth company that reimagines a healthier future for people, pets, and the planet. He has extensive leadership experience in brick-and-mortar and eCommerce channels, serving as a leader on both sales and marketing teams.
Todd has also sold some of the top brands in the US to multiple channels, including C-stores, mass merchandisers, wholesale clubs, supermarkets, and eCommerce. As an eCommerce and content contributor, his articles appear in publications such as BRAVE Commerce, Ecommerce Braintrust, and The Digital Shelf Cast.
In this episode…Following post-pandemic spending sprees, credit card interest debt in the US has reached a staggering $578 billion. With consumers cutting back on spending to pay off their debts, how can eCommerce brands adjust their strategies to retarget them?
The proliferation of retail media has simplified online shopping significantly, with consumers making purchases through buy now, pay later options after using a QR code through a connected TV ad. To address consumer spending cuts and increased budgeting, eCommerce and digital strategy engineer Todd Hassenfelt advises offering discounts and perks like subscribe and save initiatives to encourage quick purchases. You can also bundle products to provide consumers with greater value for their money and promote routines and regiments. When retargeting customers through retail media, advertise your lowest-priced products first and reevaluate your messaging to capture budget-conscious consumers.
The Global Digital Commerce Director of Strategy and Execution at Colgate-Palmolive, Todd Hassenfelt, returns to The Digital Deep Dive to talk with Aaron Conant about pivoting eCommerce strategies during economic turmoil. Todd shares frontrunning financial trends in the DTC space, how to manage and diversify ad spend to align with consumer spending habits, and how to make informed business decisions.
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