While drinking Athletic, a non-alcoholic (fake!) beer, I noticed that its box proclaims that it gives back 2% to local trails. I love walking trails, and I thought: the next time I venture to have a sober night, I’ll pick up another box of Athletic. (Thanks, Athletic, for giving out $2.5m in trail grants.) Warby Parker gives a pair of eyeglasses for each pair bought (they've given 10m pairs!), while Bombas does this for socks. Bookshop.org gives a percent back to small ...
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When we talk about prices, there are two prices that are important:
The price that we charge clients.
The price our clients charge their customers.
We normally talk about the former, aka how our prices compare with other competitors, like Shopify or wholesale services like Faire.
Of increasing importance to us is what our retailers charge their customers. Walmart recently announced that it was taking brands to account and pressuring them to keep ...
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Last week, we talked about the power of advertising and how Dietrich Mateschitz, the co-founder of Red Bull, wielded it by sponsoring Mini Coopers, fringe sporting events, and Formula 1 races. Advertising makes a statement and helps people change their minds—specifically to make a purchase. There are people who do similar things in order to change society. We often call them activists. Activists and advertisers possess a similar skill set. In 1950, Ian Hamilton stole a stone slap ...
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Today’s Gen Z gift registrants want to do everything online, often on their iPhone 14. They want to start a registry, add products, remove products, edit quantities, and view purchases. They don't want to call the store to do this.
In the adoption of digital tools, another trend is also at play: female shoppers are busier than before. Today, more women graduate from college than men. Women are increasingly doctors, CEOs, and world leaders. (Italy just welcomed its ...
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In the early 2000s, the board game Cranium became a hit. The game combined elements of Scrabble and Pictionary with the goal of helping more people enjoy playing a game. Richard Tait, who created Cranium and sold it to Hasbro in 2008 for $77.5m, passed away in July. Like Mr. Tait, I had been a paperboy, but he went beyond what I ever offered: he came up with a new service that sold breakfast sandwiches along his newspaper route. He increased profits and made customers happier. ...
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When I was a kid, my mom instilled in me a lesson to always get paid for my work. When I went to mow a lawn or do my newspaper route, she’d remind me, “Be sure you get paid.” As an adult, these flashbacks are vivid like a scene from Citizen Kane—just swap out the Rosebud sled with my newspaper delivery bike. Today, this lesson still resonates when running Bridge. When calling a store that hasn’t paid its Bridge bill, I’m confident in asking ...
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I don’t own a car, yet I have a strange desire to read Dan Neil's car column each weekend in The Wall St. Journal. Why would someone who doesn’t own a car, won’t be buying one soon, and hasn’t owned one in 25 years read a car column? It's a mix of enjoying the design and technology of automobiles, wanting to know what Dwayne Johnson may be buying next, loving Dan’s witty writing style, and, confession, simply being 13-years old at heart. Cars are ...
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I met Georgi, who runs this mobile sewing shop, while walking down the Bowery yesterday. I shared with her the story of Ronni Solbert, a neighbor who illustrated a childrens book about peddlers like her, and praised her for being an indie business—with a creative delivery approach. Georgi said her cart had previously been a coffee cart and was repurposed during the pandemic when people wanted to get their clothes hemmed in airy locals.
Read our post about pushcart peddlers ...
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An East Village Artist’s Death Prompts a Reflection on the State of Indie Retailers Today
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While thumbing through the Times, I noticed a smiling young woman’s picture in the obituaries. In the black and white photograph, she's standing on a fire escape with a historic building and a bridge in the distance. I was initially attracted to Ronni Solbert’s 1959 picture, yet I was even more drawn in by what I noticed next to her photo: a children&...
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This past week, Amazon announced it was adding Grubhub delivery to its Prime subscription (Read the news about Amazon and Grubhub here). The goal of Amazon Prime (and other subscription services) is to make the subscription so pervasive that it's sticky. Don’t like Prime movies? Ok, but you love free Grubhub delivery. If you don’t need feature X and want to cancel, you realize you still need feature Y and keep paying for the subscription.
Stores and brands sometimes ask us: How does Bridge compare to Faire?
I thought we'd compare the two service providers.
Similarities: Bridge & Faire
Audience. Both service the retail industry. In particular, both service brands and retailers. Bridge also services sales reps, and Faire tries to steer clear of them--which is one reason reps don't like Faire much.
Delivery method. Both are online platforms.
Service offered. Faire is a wholesale marketplace. It
Jeff Lawson, CEO of Twilio, a software company valued at $28 billion, was recently interviewed in the Wall St. Journal. When he shared who his advisors are, I was surprised to see Danny Meyer, the restaurant kingpin who owns Shake Shack (another publicly-traded company). Mr. Lawson read Mr. Meyer’s book “Setting the Table” and was impressed to learn about the difference between service and hospitality. Service is the delivery of the technical aspects of ...
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A new trend in retail is vacant shops in urban neighborhoods being converted to small warehouses. In the East Village on 10th Street, we see on the left the new warehouse model; on the right we see a traditional retailer. For the ‘store’ on the left, the customer orders via their mobile phone and then does a pickup or gets a delivery.
I’m seeing more of these ‘zombie stores’ around the city. Just in the East Village, I’ve seen four: ...
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Today’s Times shares that Amazon Prime members often spend twice as much compared to those that aren’t members. This led to me ponder: What if a first step to reducing Amazon’s monopolies is just canceling a $119/year ‘membership’? Prime may be Amazon’s strength—as well as its achilles. If we can find a way to undermine it, I believe one can save money and our communities.
Scott Galloway, in his Chart of the Week email, shares that Amazon often ships an order within 45 minutes of receiving it. How long does it take your store?
For indie store to compete, we have to offer competitive pricing and shipping times. Bridge's goal is to help retailers offer the same or lower prices and offer the same or faster shipping.
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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Upon boarding my flight to Mexico last week, did I eagerly wait the arrival of the bar cart? Maybe, but not before cracking open the book Great by Choice by Jim Collins. I recommend the book because it provides new approaches to success. One takeaway in the book is not new: we’ve got to work each day. Just like the anecdote in the book’s introduction about Norwegian explorer Amundsen, we have to put in miles each day. In a race to the South Pole, Amundsen's unprepared ...
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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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