Retail news that keeps industry pros in the know
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As general partner at Andreessen Horowitz, Connie Chan leads the consumer investing team, with a focus on tech companies within retail and commerce. She’s also a board member at live-shopping platform Whatnot and online clothing brand Cider.
How would you describe your job to someone who doesn’t work in retail? I invest in early-stage consumer technology companies, including those shaping the future of how people will shop, discover new products, and share them with our friends. Day to day, I’m meeting with entrepreneurs to learn about the problems they see and how they’re using technology to solve them, and providing support to the companies I’ve previously invested in.
One thing we can’t guess about your job from your LinkedIn profile? It involves so much customer research! Before I invest in any company, I try to put myself in the shoes of their target customers. This might mean attending retail conferences so I can chat with brands directly, hosting a live-shopping stream, or going through the purchase flow on various platforms to figure out what feels low-friction or fresh.
What’s your favorite project you’ve worked on? Hard to pick! Generally, I love being a strategy partner to the companies I invest in—especially helping them understand global trends and innovations that they could adapt for US customers. For example, I’m a board member of live-shopping platform Whatnot. Live shopping has been huge in China for years now; I’ve closely studied it and am always sharing insights with Whatnot’s co-founders.
Which emerging retail trend are you most excited about this year, and why? It’s my job to spot trends and future market disruptors before anyone else, and I look at consumer internet and behavior trends bubbling up in Asia to inform my investing areas here in the US. I believe short-form videos will revolutionize commerce by moving from a discovery tool to an actual purchase tool. In the US, we’ve barely scratched the surface of the potential.
What’s your go-to coffee order? Americano, no cream. I’m definitely more of a tea person.
Worst piece of advice you’ve received? “Just follow your passions.” I have since referred many people to Ben Horowitz’s (co-founder of my firm, Andreessen Horowitz) commencement speech on following your contribution, not your passion.
What was your favorite retail product when you were 15, and what’s your favorite retail product now? Favorite retail product at age 15 would likely be a piece of clothing: my Adidas windbreakers, which made me feel sporty and cool. Favorite retail product now: I can’t believe I’m saying this, but my Dyson vacuum. I feel satisfied every time I use it.