This interview is with Modestas Mankus, Founder at Talks Grow.

Modestas Mankus, Founder, Talks Grow

Modestas, can you tell us a bit about yourself and your journey to becoming an expert in the e-commerce space?

I joined the e-commerce space around five years ago, starting up a website for a building materials company. Over the years, I have established a lot of great knowledge in B2B and B2C e-commerce spaces, which led me to create Talks Grow, the go-to place for e-commerce companies looking to grow their sales.

What are some pivotal moments or experiences that shaped your perspective on the e-commerce industry?

My love for e-commerce really came around when I realized just how much impact trust signals and technology implementation can have on a conversion rate. It made me think much more from the consumer's side rather than mine. It wasn't about what I liked, but what they liked.

You mentioned working with e-commerce brands to minimize inventory risk by analyzing trends and keeping minimum stock. Can you elaborate on a specific time you successfully guided a brand through this process and what key insights they gained?

Trend-checking and understanding stock levels is one of the great ways to keep the cash flow rich within your company. Risk is a big factor in margin-tight e-commerce companies. I found that by giving brands an understanding of why their stock levels don't have to be large to do well, it gave them a sense of freedom. Stocking big is rarely good, especially for new brands.

In your experience, how have you seen consumer behavior shift in recent years, and what strategies have you implemented to help brands adapt to these changes in their e-commerce approach?

I'd say the desire for a quicker and easier experience has certainly helped us guide many of our e-commerce clients in the right direction. Multiple payment options, auto-fill fields, quick add-ons—all of these things, among many micro-features, have aided the demand for a smooth experience from consumers who have become less patient.

You highlighted the positive impact of pay-in-three models and auto-fill features on checkout conversions. Beyond these, what other emerging payment technologies do you believe will be game-changers for e-commerce businesses?

I still believe search is one of the most important features that is constantly evolving. I'm talking beyond voice or image search—simply one that truly understands the audience and what they are looking for. Algolia and Doofinder are two great search-engine tools I've found that have seriously improved sales for customers.

Many are hesitant to adopt AI due to the perceived complexity and cost. How can e-commerce businesses, especially smaller ones, effectively implement AI solutions like the customer service application you mentioned without breaking the bank?

Well, I'd say first set a quota on monthly spending. I would then look at ways to not waste money by utilizing it without its need. Only activate it when a customer requests a chat, and so on. AI is great, but yes, it can be expensive if used incorrectly. Also, don't be scared to choose alternative AI tools, as the competition for them is rife.

What are some common pitfalls you've observed businesses make when implementing AI in their e-commerce operations, and how can these be avoided?

They are trying to implement it on every single element of their website. They misunderstand a lot of AI capabilities, flexibility, and the ways AI learns and grows.

Looking ahead, what are some significant e-commerce trends you're most excited about, and how do you anticipate they will shape the future of online shopping?

I'm highly excited by seamless experiences that will do the whole checkout with a simple two-click tap on the button that autofills your details, address, and lets you pay. This, and same-day delivery, will be a game-changer. It's kind of happening right now, but no one has cracked it just yet, in my opinion.

What advice would you give to aspiring entrepreneurs looking to venture into the e-commerce landscape today?

Try, fail, learn, and try again. Don't be scared of going into a crowded market as long as you have something new to bring. Also, don't fight to the bottom; you'll only end up losing.

Thanks for sharing your knowledge and expertise. Is there anything else you'd like to add?

Keep it simple. Simple does it.