Last February e-commerce company Shopify Inc. replaced the “Ottawa, Canada” dateline that began its press releases and earnings reports with a strange new one: “Internet, Everywhere.” The geographical shift came at the insistence of Shopify’s founder and chief executive officer, Tobi Lütke, who tends to view such matters through the prism of cold, hard logic. In May 2020, only a few months into the pandemic, he’d made the early, seemingly rash decision to...
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In the book Great by Choice, Jim Collins posits that processes are key to an organization's success. As an example, he cites John Wooden, the NCAA championship-winning UCLA basketball coach, who trained athletes on processes that included everything from shooting to tying one’s shoelaces. In practicing, a player may perfect their shoelace tying and do thousands of repetitive free-throw shots. When we watch a game from the nosebleed seats like me (...what can I say, I’m ...
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During this holiday season, does one want to tell their family and friends that they sell knock offs--or that they help Main Street? I'd vote for the latter. Yet, a new service is trying to sell knock offs and eat in to retailers' lunches.
For the last few years, retailers have been having a hard time of it: they are increasingly circumvented by the brands. With the advent of the e-commerce websites and social media, brands are pitching their wares directly to consumers and ...
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Retailers have had a difficult time in recent years, as brands have increasingly circumvented them. With the advent of e-commerce websites and social media, brands are pitching their wares directly to consumers and cutting out retailers.
I’ve sometimes wondered: What if the factory decides to do the same and cut out the brands? If the retailers don’t like it, how will the brands? Some businesses are now trying this. Services like Italic allow a consumer to bypass...
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Christmas Open House
November 4, 5, and 6
10:00-5:30
All in-store merchandise 20% 0ff
Treats provided by Mama Wilson's, Real Food Co, and The Green Door.
Vietri Event
November 10
12:00-4:00
Gift with purchase starting at $150.00
Free personalizing on any Vietri piece
20% off all in-store merchandise
While watching Salvage Kings, a Hulu TV show about a Canadian salvage company, I learned that the Nash automobile company’s 1920s slogan was "Give the customer more than he has paid for.” From Wikipedia, I learned the cars lived up to their slogan:
“Innovations included a straight-eight engine with overhead valves, twin spark plugs, and nine crankshaft bearings in 1930....A long-time proponent of automotive safety, Nash was among the early mid- and low-priced cars ...
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I've watched brands use social media to do an end-run around retailers. A recent article from RetailDive substantiates this. Excerpt:
"75% of social media users said they increased their purchases from brands they follow... A 2021 study from NPD found that 51% of survey respondents said they bought items thanks to content in their Facebook and Instagram feeds."
Translation: 75% of shoppers bought more from brands directly--which is bad for retailers. The article ...
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MEMBERSHIP SURGES 50% IN E-COMMERCE COMMUNITY Online Shopping Boom Drives Retail Industry to Team Up On Bridge
NEW YORK, NY, July 30, 2021 – Bridge, an e-commerce community, reported a record increase in membership as the pandemic continued to rattle the retail landscape. In the last 12 months, 275 retail stores joined Bridge, bringing the total membership to more than 826 stores—a 50% increase. ...
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I’m seeing a disturbing trend online. Stores are not sharing news and events on their websites. Instead, they are relying on Facebook (and Instagram, which it also owns) to perform this task. That’s like a customer coming into the physical store and the store manager saying: "Want our news and events? We don’t have it here. Go to the coffee shop next door—which will be filled with our competitors pitching to you."
I’m excited to share a new, free service for our stores. Bridge is offering a wholesale ordering service where you can place wholesale orders via your Bridge account. More than 100 brands are participating.
Martin Garding, owner of Lawren's in Huntsville, shared this about Bridge's new wholesale service:
Bridge Wholesale is by far the easiest way to order from our suppliers. It cuts down on mistakes that could occur ordering through other channels. I like that the images and item ...
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Navarra’s, a fine jewelry and gift store in Lake Charles, LA, signed up for a Bridge Store on May 5th, 2021. It instantly received an online store and a gift registry for free. Within 2 days, its online store also displayed 10,000+ products. The store was able to offer many products quickly using Bridge’s Smart Products service. The service crowdsources product maintenance and allows each respective brand to effectively manage its items through the platform to free up time for Bridge...
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Best of Thymes, an indie store in Iowa, just closed (https://bestofthymes.bridgecatalog.com/news.cfm?id=20645). Hopefully, they’ll continue to operate online and keep using Bridge. Best of Thymes is part of an industry-wide series of closures that is affecting large and small retailers. Due to this, brands are increasing their efforts to go D2C. Brands justify this by saying that there are fewer stores to show their wares. While this is true, surely they are motivated by: 2x the margins. ...
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This WSJ Shopify review compares some of the fees charged by Amazon and Shopify. It takes the author half the article before he starts sharing fee structures. (I’d have liked to see more statistics about fees charged and even a chart.)
Excerpts:
Shopify, founded in 2007 and now publicly traded, has 1.7 million sellers (note: that’s a brick-and-mortar store or a person in their basement; Shopify doesn’t differentiate).
Today’s Times shares some of Amazon’s steps during the pandemic to grow its empire.
I used to tell retailers that they don’t know it, but they’re now in: the software business. I missed something in that statement. They are also now in the warehouse business. Websites and warehouses go hand in hand. They’re flip sides of the same coin.
As e-commerce grew, all the major retailers should have been growing their warehouse space. For example: if ...
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Zola has added a "Home Store" tab to its site. The goal: become an online retailer that does it all...oh, and maybe does gift registries, too. Notably, this a departure from its original, registry-focused mission statement. Initially, Zola told brands that indie store gift registry services were not servicing out of the way towns and that by opening Zola, the brand would reach brides in remote parts of, say, Oklahoma. Zola didn't say that it was simply selling ...
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Reports suggest that 50% of purchases start on Amazon.com, and Amazon wants to keep it this way. Yet, businesses and merchants increasingly want to sell their products via their own DTC (direct to consumer) site, retailers' websites, Facebook, Instagram, and more. Due to this, Shopify, which powers many DTC and retailer websites, is a growing thorn in Amazon's dominance of retail. Shopify reportedly helps power more than 30% of online U.S. retail sales.
When reading about Bed Bath & Beyond's 20% off coupon, I learned that BBB was started in New Jersey, right around the corner, in 1971. The coupon, which first appeared for a 4th of July promotion in that late '90s, was an easy way to cut out other expensive advertising avenues.
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