**Prioritising Profitability: StoreHero’s Thomas Gleeson Shares Key eCommerce Strategies**
In the rapidly evolving world of eCommerce, businesses often find themselves chasing growth at the expense of profitability. Thomas Gleeson, co-founder of **StoreHero**, believes it’s time to shift that focus. Drawing on his extensive industry experience, Gleeson highlights the importance of prioritising profitability to build sustainable and successful online enterprises.
Gleeson observes that while increasing sales and expanding customer bases are vital, they don’t always lead to improved profit margins. He urges eCommerce entrepreneurs to delve deeper into their financials to understand the true health of their businesses. By analysing costs, refining pricing strategies, and enhancing operational efficiencies, companies can uncover opportunities to boost profitability without sacrificing growth entirely.
One key strategy Gleeson recommends is optimising operational processes. Streamlining logistics, negotiating better rates with suppliers, and reducing unnecessary expenses can significantly impact the bottom line. Additionally, he emphasises the value of focusing on customer retention. Loyal customers not only provide repeat business but also often generate higher profit margins compared to new customer acquisitions.
Gleeson also points to the importance of data-driven decision-making. By leveraging analytics, eCommerce businesses can identify which products or services are most profitable and allocate resources accordingly. This approach enables companies to make informed choices that support both profitability and sustainable growth.
In a market saturated with competition and shifting consumer behaviours, Gleeson’s insights offer a roadmap for eCommerce businesses aiming to thrive financially. By rebalancing priorities and placing profitability at the forefront, companies can build a more resilient foundation for long-term success.
Source: Interview with Thomas Gleeson, CFO and co-founder of StoreHero
Author: Alba Chaves
