Today we’d like to introduce you to Lena Zhang.
Hi Lena, it’s an honor to have you on the platform. Thanks for taking the time to share your story with us – to start maybe you can share some of your backstory with our readers?
Our journey with Cohere began a couple of years ago when we faced the challenge of transforming part of our restaurant space into a retail market. We quickly realized that starting a retail business required more than just passion. Existing marketplaces made it easy to buy products, but understanding what works and what doesn’t was a significant challenge.
It led us to realize the similar struggles faced by many local independent retailers and emerging brands. These businesses lacked access to valuable local retail insights, making it difficult for them to compete with larger, more established retailers.
To address this gap, we brought the concept of Cohere to life—a community where independent retailers come together to discover new products and share insights. Through this collaborative platform, we collect data and insights, which we then provide back to our members. This empowers them to understand the market better and make informed decisions to drive their success.
We started small, testing and sharing within our own network, and soon a few friends joined us. Today, we have grown into a community of several hundred individuals, all passionate about building a stronger retail ecosystem. Our shared vision is to strengthen the retail industry by fostering collaboration and empowering local retailers and emerging brands.
I’m sure it wasn’t obstacle-free, but would you say the journey has been fairly smooth so far?
Starting a business is challenging. Sometimes I feel like there is a new challenge every day.
One of the significant hurdles we faced was acquiring our initial users and conveying the value and benefits of our platform. We dedicated persistent efforts to communicate and engage with potential users; constantly testing different acquisition strategies. We continue to refine and improve our user acquisition methods to this day.
Expanding our user base and fostering an active community has been an ongoing challenge. We prioritize constant engagement, collaboration, and addressing the evolving needs of our members. Building a strong network of retailers and brands who actively contribute and gain value from the platform requires continuous effort and adaptation.
Fortunately, we have received tremendous support from our friends and partners. Working with these creative local businesses has been a joy, and their enthusiasm and collaboration have been crucial to our growth. Additionally, emerging consumer brands looking to enter the independent retail space have shown great interest in our platform, supporting us by providing perks and value to independent retailers.
Despite the challenges, we remain dedicated to our vision of empowering local retailers and emerging brands, continually iterating and improving our product based on user feedback and market insights. Overcoming these challenges has been instrumental in our progress, and we are committed to the ongoing growth and success of Cohere.
As you know, we’re big fans of you and your work. For our readers who might not be as familiar, what can you tell them about what you do?
As a professional architecture designer, I have had the opportunity to work on various commercial retail projects, where I have honed my skills in creating innovative and functional spaces for businesses.
I have always been driven by a desire to explore new ideas and bring them to life. This led me to explore several side projects since college.
One of the projects was establishing a vinyl marketplace back in 2012. Recognizing the growing interest in classic vinyl records in Asia, I saw an opportunity to connect music enthusiasts with high-quality vinyls from the US and Europe with better prices. Through this marketplace, I aimed to provide transparent pricing and make it easier for people to access high-quality vinyl.
Another venture is an online bakery shop selling mooncakes. Mooncakes hold cultural significance, especially during festivals, and I saw an opportunity to cater to a niche market by offering unique and authentic flavors through an online bakery shop. That was a one-person show, from designing the brand, ordering supplies, figuring out the recipe, cooking, setting up the online shop and fulfilling orders all in one month.
These side projects allowed me to channel my creativity, business acumen, and passion for entrepreneurship. They provided valuable experiences in developing strategies, managing operations, and connecting with customers in niche markets.
In terms of your work and the industry, what are some of the changes you are expecting to see over the next five to ten years?
1. Experiential Retail: Physical stores will evolve into experiential spaces, offering immersive and engaging experiences that cannot be replicated online. Retailers will emphasize creating memorable moments, providing entertainment, and fostering community connections to attract and retain customers.
- The retail industry will continue its digital transformation, with an increasing focus on e-commerce, omnichannel strategies, and seamless customer experiences across online and offline channels.
- The use of data analytics and AI-powered insights will become even more prevalent. Retailers will harness data to gain a deeper understanding of consumer behavior, preferences, and market trends.
Pricing:
- Free for independent retailers
Contact Info:
- Website: thecohere.com
- Instagram: https://www.instagram.com/thecohere_/
- Linkedin: https://www.linkedin.com/company/thecohere/
- Other: club.thecohere.com
