Selling expensive things online
July 16 2023
Can you sell expensive items online? Mitchell Jiang from RISIS, a premium retail company, shares insights from his career experience.
Can you sell expensive things online ? In this chat, we had the pleasure of speaking with Mitchell Jiang, Vice President of Sales at RISIS, a company that sells expensive premium products. We explore the unique characteristics of the premium market. Mitchell shares invaluable insights on unconventional pricing strategies and offers expert advice on building brand awareness with highly discerning customers.
Topics discussed:
- The history of e-commerce
- Customer Focus and Continuous Innovation
- Maximising Value in E-commerce
- The Power of Scarcity in Brand Positioning
- Harnessing the Power of Community Engagement
- The Continuing Balance Between Online and Offline
Listen to the episode
Key insights
1. Common mistakes to avoid in e-commerce: choosing the wrong e-commerce platform, neglecting target market considerations, and selling generic products without innovation.
2. By tailoring products and services to meet the unique needs of a target market, entrepreneurs can establish deep customer insights and foster loyalty.
3. Understanding the perceived value of products is essential, as customers assign different values based on their preferences and needs.
4. Consistency in branding and presentation throughout the customer journey is important to maintain the perceived value.
5. Investing in a targeted online presence through SEO and strategic placements help users easily find and connect with the brand.
6. A gradual integration of online and offline channels, with advancements in augmented reality (AR) will potentially reshape future of e-commerce, especially for try before you buy brands.
About Mitchell Jiang
Mitchell is a highly experienced professional in the e-commerce industry with over 20 years of expertise. As the Vice President of Sales at RISIS in Singapore, he plays a crucial role in overseeing the growth and development of key departments, including e-commerce, wholesale, corporate, and export. Mitchell's responsibilities encompass end-to-end product development, design, and sourcing.
About RISIS
RISIS started its roots in Singapore since 1976 and was renowned as the brand which encapsulated Natural Orchids in Gold. Since then, RISIS have been producing collections of Jewellery, Home and Lifestyle that are encapsulated in 24K Swiss Gold and other precious metals, singing to the different facets of its unique identity.