Wells Fargo wants to become a technology company, shares today's WSJ, which mirrors the trend of many businesses in many industries. They are strengthening their technology--or risking being left behind. A similar trend is occurring in retail. But some retailers don't get it. Walmart infamously invested in Bonobos pants instead of a tech company, only to sell Bonobos recently at a loss.
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December 22, 2019
December 22, 2019
In the ‘age of Amazon,’ is your store a liability or asset? Walmart is banking on stores being the physical nexus points of the web.
Did your e-commerce business lose money last year, and you fret over this? Most indie store owners do, but losing money on e-commence is the name of the game as catching up to Amazon’s 25-year head start will take years and lots of losses. Proof: Walmart’s e-commerce operations lost $2b last year, shares the WSJ. Most indie stores will not be able to pursue this ...
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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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December 3, 2019
December 3, 2019
In just 8 years, the number of packages shipped has grown 150%. That has significant implications for small businesses, the e-commerce industry, air pollution, tree harvesting, and other areas of our lives.
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November 27, 2019
November 27, 2019
Industry City, an up-and-coming neighborhood on the South Brooklyn waterfront, is home to a workshop and store, shares today’s WSJ. An artisan there calls it the anti-Amazon. :)
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Many of us will be with our family and friends this Thursday. I'll take a moment then to give thanks to all the indie retailers that enrich our communities. I'll thank the indie designers that fill our stores and homes with beautiful products.
When I'm in my friend's kitchen, someone may say they need a new spatula from Amazon, or after dinner ask Alexa to turn on Amazon TV. When they do, I'll consider those actions in light of the holiday. I'll share why this is important to consider.
Market buildings are looking down the barrel of a gun. To find out why, check out my article in this month's Tableware Today.
THE LAST WORD
CHART YOUR FUTURE BEFORE BIG TECH DOES
by JASON SOLAREK
Market buildings are starting to take digital seriously. Why, finally? Because Amazon is nipping at retailers’ heels? No. Because Zola is stealing indie stores’ registry business? No. Sadly, the main thing that’s brought markets up to speed has to do with their own dollars and ...
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Barneys will likely keep thousands of dollars belonging to brides, shares today’s Times. The defunct retailer will keeps the brides’ registry credits if they don’t redeem them by this Thursday.
This is also bad for the brands that were sold via Barneys' registries. For example, let's imagine Barneys sells Waterford. If a bride registered for a Waterford product, and that item was gifted by a family member, Waterford would expect that item to be bought by ...
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November 2, 2019
November 2, 2019
Amazon is Winning Because of: Bots
Amazon most likely has lower prices than most stores--including yours, shares Retail Dive.
Excerpt: "With the holiday sales season underway, Amazon is pricing 20% below other online retailers on average in key product categories, according to a study by Profitero."
You may ask, how is Amazon wining this online price war? I'll share my answer: Bots. Amazon has unleashed an army of bots to crawl and scrub all of your data and websites, and report it back to Amazon ...
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October 27, 2019
October 27, 2019
The Head of the Rudin Center for Transportation Policy says it’s now easier and cheaper to order things online than go in the store.
The Rudin Center for Transportation is part of New York University, and is named after Lewis Rudin—the developer of the wholesale building 41 Madison.
If online is better according to the head of the Rudin Center, what is the Rudin family—which owns 41 Madison—doing to help tenants and visitors adapt to this fact?
This holiday season more shoppers will shop online ...
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October 25, 2019
October 25, 2019
Amazon sales are up 24% last quarter. How much are your sales up?
If they’re not up 24%, it likely means that Amazon is taking your customers and your neighboring business’ customers.
Do you buy from Amazon at home? Or for your store? If so, you may be helping sharpen your executioner’s sword by 24%.
While the Times paints the quarter as a mixed bag, I believe this is great news for Amazon. It also shares that Amazon’s advertising revenue is up 45% and that Amazon Web Services Is up 35%. Do you...
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October 2, 2019
October 2, 2019
Should your store offer financing to customers? Today’s WSJ suggests the answer is “yes” based upon the automobile industry making more on financing than the car sales themselves.
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September 30, 2019
September 30, 2019
Exciting News!
COSTA NOVA AND CASAFINA ANNOUNCE A NEW SHOWROOM AT 41 MADISON AVENUE IN NEW YORK CITY The renowned Portuguese tableware brands COSTA NOVA and CASAFINA announce a new showroom at 41 MADISON AVENUE in New York City. Situated in the heart of the Flatiron District, the building welcomes tabletop professionals and chefs from around the globe to preview new offerings from the industry’s finest brands. The new space will display collections from both brands with an emphasis on the ...
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September 8, 2019
September 8, 2019
In a region known for its grapes, Susan and Brian Friguliette, bravely decided to give us beans, coffee beans that is. Their love story blossomed into living their dream and their passion for coffee. We have been selling Keuka Lake Coffee for 13 years. Over this time it’s become our top coffee brand. Customers love that they are they a local roaster but, the diverse selection of roasts and flavors has kept Keuka Lake Coffee fans coming back for refills. We asked Susan and Brian to share how ...
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What company in the tabletop industry has invested in a tech company? I don't know of one. I believe our industry should be doing what UPS does and investing in tech--and I'll explain why.
As today's WSJ shares, UPS has a venture capital arm and it has this because smart businesses know that most businesses are becoming more like: software businesses. Therefore, businesses have to ‘buy’ that know-how by investing in a tech company. UPS knows that it doesn't have the internal tech know-how to...
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August 12, 2019
August 12, 2019
We have a new milestone: mobile orders exceeded desktop orders for the first time this past Saturday on Bridge. This is notable because desktop orders have historically beat mobile orders.
Shoppers choose the mobile route on Saturday because they are most likely out of the office and on the go. But why had mobile not trumped desktop before? We believe that mobile-based purchases are increasing as shoppers get more comfortable with mobile (aka they are making more mobile purchases for other ...
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August 11, 2019
August 11, 2019
Fifty percent of the U.S. book market is controlled by Amazon, while Barnes & Noble has 8%. This book market share split shows that shoppers value convenience and price more than customer service. Anyone that says retail can be helped, saved, or fixed by concentrating on anything but convenience and price is wrong.
For example, an HFN columnist whom I won’t name is often extolling the need to make the in-store shopping experience fun and interesting. Similarly, a market building president ...
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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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August 4, 2019
August 4, 2019
What happens when you make a dessert syrup with delicious locally roasted coffee and organic cane sugar? Pure two ingredient magic, that’s what!! Tina Clark’s Sweet and Cute Coffee Syrup was love at first bite for our staff and our customers. We wanted to know how this gourmet goodie came about and what other genius ideas were in Tina’s foodie future. Daniel asked her to share what’s brewing with us and got the scoop. What inspired you to get into business? I had always loved to bake and to ...
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July 26, 2019
July 26, 2019
PRETTY IN PINK. Anna Weatherley's Dusty Rose in the Antique collection has been a big hit and is now the second best-selling color in the collection. Don't miss out.
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