The e-commerce industry has undergone significant changes over the past decade, with companies shifting their focus from solely top-line numbers to healthy business principles. Bastian Siebers, Chairman of the Management Board and CEO of flaconi, shared his insights on the future of online retail, highlighting the importance of customer centricity and mindset in achieving success.
Early Lessons
Siebers’ journey in the industry began with a focus on customer centricity, which he believes is essential for long-lasting success. He noted that many companies claim to care about their customers, but few design their processes with the customer in mind. At flaconi, customer centricity is a core value, with everything starting and ending with the customer.
A defining moment for Siebers was spending two and a half years running two companies simultaneously, which taught him the importance of focusing his energy on executing one thing with excellence. This experience guides him to this day, as he emphasizes the need for a winning mindset in business.
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Industry Evolution
When reflecting on the past decade of e-commerce, Siebers misses the industry’s hunger and positivity, but is glad that the “growth at all costs” mindset has been left behind. He believes that the shift to sustainability was necessary, with companies now focusing on earning money before scaling.
Siebers’ credo, “positivity powers performance”, remains a key reason for flaconi’s success. He defines success in e-commerce as the balance between happy customers and positive business results, with flaconi holding the industry’s highest NPS and a customer retention rate of over 80%.
Future Opportunities
Siebers sees the biggest opportunity in e-commerce today as building long-term, trust-based relationships with team members, partners, and customers. He believes that AI is essential for operations, but the real opportunity lies in what he calls #WEcommerce, which focuses on cultivating and maintaining strong relationships.
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Flaconi invests heavily in creating an innovative and fun workplace that attracts talent and unleashes potential. Siebers refuses to compromise on mindset, always betting on people who are willing to go the extra mile.
Siebers is incredibly optimistic about the future of e-commerce, with the market evolving rapidly and quality and speed becoming increasingly important.
Siebers’ experience and expertise make him a prominent figure in the industry, with a deep understanding of online retail.