How online trends in the used car market parallel those in the wedding registry market. Online gift giving predicted to increase at the expense of in-store giving by 40% by 2030.
How online trends in the used car market parallel those in the wedding registry market. Online gift giving predicted to increase at the expense of in-store giving by 40% by 2030.
May 7, 2024
Jinjoo Lee in The Wall St. Journal shares how the used car market has improved in the last 20 years because much of it is now conducted online. When car buyers use the web, they are more likely to save money (saving about 2%), and dealers can, in theory, make more with dynamic pricing (about 2%)—thereby giving each party a win. Unlike 20 years ago, when we didn't have smartphones, today 95% of used car purchases start online. While 31% of used car purchases were completely in-person,...
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At Shop Local, it's our job to help find ways to grow your online business. Part of that job is researching different registry software to see if it could be a good fit for your store.
If you offer a gift registry service, you may have heard of MyRegistry. MyRegistry is a third-party universal registry service that seemingly integrates with your primary website, stating that they "offer a suite of technology solutions [for retailers] that boost revenue, engage customers, and reduce ...
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Carol Schroeder recently shared how local shops help our communities and their environment. I liked the excerpt below from her post:
”Returns are one example of something local shopkeepers do better than Amazon and other giant web retailers. The e-commerce return rate is estimated to be two to three times that of brick & mortar stores – averaging a shocking 20%-30%. According to The Guardian, a returns platform “recently calculated that only 50% of ...
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How pre-populating information saves clients time and speeds them along a process.
June 30, 2023
Each April, I scramble to send my tax information to my accountant so I can file my taxes before April 15. Since my friends confide that they do the same, there are likely millions of people like us racing to prepare our taxes. What if there was a way to avoid this painful rush—and even the cost of it? The WSJ shares that Japan, New Zealand, and much of Europe get such relief. The countries prepare tax returns for their citizens using existing data, and the citizen just needs to review it,...
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In the movie Good Will Hunting, Matt Damon, who plays a handsome MIT janitor moonlighting as a math savant (can one say, “Hollywood career vehicle”?), woos a young lady (played by the actress Minnie Driver) by outmaneuvering a few competing, obnoxious cads. When Damon’s character gets the girl's telephone number, he proudly shows it to the other guys and boasts, with his South Boston access, “How 'bout ‘dem apples?” I imagine Tim Cook imitating this...
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Operating a website is expensive--not only because programmers are expensive, but because margins are smaller.
For 10 years, Bridge has encouraged stores to beef up spending in preparation for the e-commerce boom. It's easier to spend a little each year over many years than spend money in a panic. Money spent in haste often results in waste. As a reference, when traditional retailers tried to catch Amazon, they often failed in their scramble. Please recall Macy's buying the ...
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Companies with deep pockets and big connections to Wall St. have teamed up to make the Internet a dirtier place. Legislation is pending to make large sellers of new goods have to reveal the true seller of the good. The goal of the federal bill is to curtail the sale of fake and stolen goods through online marketplaces. This sounds logical. But not to: eBay, Poshmark, Mercari, and Etsy.
These businesses have hundreds of millions of dollars at stake from banks, investors, and rich people. They ...
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RetailDive shares that shoppers want a store with both a great website and a convenient location--something that retail leader Amazon may not offer.
Article highlights:
40% of stores now offer BOPIS.
Even with stores now being open (after the mandatory Covid-19 closures), e-commerce growth is still up 40% over 2019.
80% of consumers told FTI Consulting that they're going to shop more online this year compared to last, ...But many of those customers will be going to their
Yiren Lu shares her experience of setting up a Shopify store in the New York Times magazine. Ms. Lu reports the setup process was easy, but her online Shopify store failed because it lacked marketing, aka eyeballs and orders. In her next article, I hope Ms. Lu tries Bridge. Bridge Store helps members fill the marketing component that Shopify is missing. When a store joins Bridge, Bridge instantly points hundreds of links to the store from other Bridge members, which Google sees and ...
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In this week's New Yorker magazine, Charles Duhigg explores how venture capitalists may be harming our businesses. The article shares that instead of the best company winning, the charismatic charlatan with the most venture capital backing may be winning. In WeWork's case, the company almost won by reaching its IPO. Yet, even bottomless buckets of money couldn't save the company from the economics of office sharing--and its wildcard CEO Adam Neumann.
We have a few businesses in our retail ...
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Retailers have asked us about selling via Facebook. For starters, you can easily share your products from Bridge to your Facebook account. Your Bridge account is the ideal resource to pick from thousands of products and share them via social media.
Facebook does offer options to let visitors buy within Facebook, and this route often 'Facebook Marketplace.' Please note this warning about selling via Facebook Marketplace: you will not get paid until 15 - 20 days after you ship the ...
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January 8, 2020
January 8, 2020
Are brands bypassing stores? A new survey says 'yes' they are: 40% of Americans shopped directly from a brand in the past year, according a Diffussion survey.
Shoppers are choosing to bypass stores because the brands are undercutting them on prices, and offering faster and cheaper shipping.
How are brands getting in front of customers? Answer: Facebook and Instagram. A shopper visits a retailer's website for brand X, then Facebook puts a tracking pixel on the shopper, and then ...
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December 20, 2019
December 20, 2019
+ Shoppers will return about 1/2 of all e-commerce purchases. + Returns will total $90b+. + Returns will increase more than 15%. + 80% of shoppers prefer making a return to a physical store. + e-commerce orders have 3x the return rate of in-store purchases. + Amazon is using its network of Whole Foods stores and Kohl’s to accept returns.
These stats are pulled from today’s WSJ article on how returns impact retail. The article shares that returns translate into a gift card and an opportunity to ...
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December 10, 2019
December 10, 2019
Indie retailers are being hunted online by Amazon, Zola, and brands using their direct to consumer sites. They are triangulating around their prey. These entries are picking off their online customers and thereby their ‘supply chains‘ that keep them afloat online. Without online sales, the indie stores are starved of the one area in which the retail industry is growing.
Amazon and brands target general public orders. Due to the lower prices, brand name, and marketing, they'll get those ...
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November 24, 2019
November 24, 2019
The L.A. Times shares that Amazon and its customers are destroying billions of trees (and rainforests) due to all the boxes that they’re using and throwing away.
"...165 billion packages were shipped in the U.S. last year — using about 1 billion trees’ worth of cardboard."
How can you prepare for Black Friday / Cyber Monday? Here's a checklist:
1. 'Seed the sale' by telling customers to expect deals. "Promote sales, promote sales, promote sales," said Sucharita Kodali, principal analyst of e-business and channel strategy at Forrester. "It's the number one thing that shoppers look for during the holidays." (Source: Retail Dive)
You can do this via posts on Bridge and social media.
2. Craft an irresistible offer.
3. Organize your upcoming sales / discounts. You can do ...
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August 8, 2019
August 8, 2019
I read the New York Times and want to ask: Are we sharpening our executioner's sword? That is what FedEx wondered as it helped Amazon grow by delivering its packages. Finally, FedEx woke up and decided it's better to make less money tomorrow than help usher in its death in the near future. As the Times reports, FedEx is terminating its ground delivery agreement with Amazon at the end of August, thereby passing on the delivery of millions of packages.
Amazon has historically partnered with ...
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July 24, 2019
July 24, 2019
Amazon makes returns easy. Macy's has followed suit and now does the same. What are you doing to make returns easier?
Check out this handy chart showing what department stores do for delivery and returns. Ninety-two percent of stores send a shipping confirmation email, but only 31% tell you the estimated delivery day. Regarding returns, 69% email a customer that a package has been received, but only 38% email a customer when the refund has been processed.