An article in today’s Times cites the high cost of acquiring customers, which ranges from $100 to $800. Excerpt:
“Estimates of an often-cited retail metric known as customer acquisition costs range from $100 to more than $800 per customer, said Daniel McCarthy, a professor at Emory University’s Goizueta School of Business, who has done extensive research in the field.”
Physical retail is one of the most expensive ways to acquire customers. An online ...
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June 21, 2017
June 21, 2017
Carol Schroeder, a shop owner that writes about retail, suggests in her weekly column that stores give up and let Amazon and other online entities eat their lunch. Upon reading this, I had to ask: "pardon me?"
Carol appears to be wearing a troglodyte's writer cap. Steer clear of her advice. Bridge encourages you to use the most efficient tools to get online, get found in Google, and sell.
Excerpt from Carol's column:
"...Most of us didn't go into retailing in order to handle faceless orders ...
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Congrats to: you. If you're reading this, you're on Bridge and are part of the future. You took the right step towards surviving. Retailers that have not invested online are going to continue to sink. Today's WSJ shares that online sales are growing while in-store sales are shrinking.
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March 1, 2016
March 1, 2016
If web sales are only 5% of Targets sales, why is Target hustling to adapt for the web? Answer: much more than 5% of sales are researched first online and then bought in store. Some stats claim that 50% of large, in-store sales are first researched online. After all, can you imagine buying a stereo, car, or appliance without first researching it online? 5% may actually be more like 50% and that's why retail players are battling and investing online.
Side note: I'd forgotten that Amazon ran ...
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