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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Scott Galloway, a business leader and NYU professor, shares that we're now spending over 4 hours a day on our mobile phones--up from just 20 minutes in 2010. (…I wrote part of this post on my iPhone.) What does this mean? Lots of opportunities for Amazon--as well as Facebook, Instagram, and other tech titans--to sell to us. Our cell phones are, in essence, 1,000 'buy buttons' in our pockets (or on our nightstands) that encourage us to buy stuff online, any time of the day.
Scott Galloway, an NYU marketing professor and soon-to-be CNN host, suggests that when we assess a market, we start by asking how much one's experience using the service has changed in the past few decades. For example, when you go to your doctor’s office, if you were to spin around and pretend it’s 1990, how different is your experience today vs. 30 years ago? Scott often critiques doctors' offices, hospitals, and colleges because he believes they have not evolved enough in services...
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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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There are many e-commerce platforms from which to choose. A store owner can choose from more than 30 platforms including Bridge, Shopify, Big Commerce, and Big Cartel. Unfortunately, very few software providers are easy to set up and use. Most importantly, they may not improve retail sales. A store owner is surely mindful of increasing costs and wasting time on software.
Bridge, our e-commerce platform, helps more than 700 indie stores offer a website and bridal registry that...
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This week, Amazon launched its online pharmacy targeting the 3.8 billion prescriptions filled in the U.S. each year. Shares of major pharmacy chains dropped about 10% on the news. Amazon honed this weapon in its Seattle lab and is eagerly unleashing it on retail chains and mom-and-pop pharmacies.
Something struck me while reading this news: Does Amazon remind you of Covid-19? The similarities:
Amazons kills many businesses in industries it touches. Pharmacies are now worried
While waiting for breakfast, I noticed this ‘Boycott Amazon’ sticker. I think that getting customers to stop something—or start something—is a tough practice. There are fields of science (psychology) and marketing (branding) dedicated to this. Is it easier to get someone to start or stop (boycott) something?
I think that offering a solution (start something) is easier.
I recommend that stores encourage customers to choose them over Amazon because the ...
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E-commerce sites get 21% of their traffic from organic Google searches, followed by Facebook (9.6%) and Instagram (1.5%), shares a study b Oribi. In other words, boosting your Google ranking is twice as important as posting on Facebook because more than 2x of your sales come from Google.
Sadly, I see many stores spending their 'marketing efforts' posting Facebook content--thereby helping Facebook sell ads to the store's competitors--and the stores inadvertently ignore the bigger sales ...
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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 27, 2019
December 27, 2019
The retail store floor is being transformed in to an ‘app store,’ shares todays Times. Employees armed with mobile phones are helping customers using specialized apps.
The Times article also shares that retail clothing jobs in NYC shrunk 9% between 2013 to 2018.
39% percent of all e-commerce sales were made on a smartphone on Black Friday, according to research from Adobe reported on by Andrea Lillo in HFN magazine.
And this growth came at the expense of in-store traffic: "In-store traffic on Black Friday fell 2.1 percent compared to last year, Newsday reported this morning, citing RetailNext, a San Jose, Calif.-based retail analytics company. "
Ms Lillo goes on to share that big e-commerce companies, such as Amazon, are beating up indie stores on this ...
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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.
Does traffic seem worse? It may be your neighbors’ 1.5 million daily packages being delivered, shares today’s Times.
My neighborhood is bombarded by trucks—and delivery people often ringing every apartment buzzer in a building to contact just one apartment.
Interesting stats from the article: + Homes now get more packages delivered than businesses. + Traffic speeds have slowed over the last decade. + 2 million square Feet of warehouse space is being built in NYC. + Carbon dioxide emissions ...
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October 22, 2019
October 22, 2019
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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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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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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June 16, 2019
June 16, 2019
Business lunch: how retail is changing :)
Old retail is 80% analog. This consists of: the physical store, staff, customer service training, etc. What you’d expect walking into a Saks or Macy's. And it's about 20% tech: computers, cash registers (POS systems), mobile shopping, Google ranking, apps, hiring social influencers, Instagram, etc.
Today, the retailers that are well positioned, growing, and 'hot' carry the opposite equation: they're 20% analog and 80% tech.
E-commerce is going to double in the next seven years, predicts FedEx. When that happens, how prepared will your business be? How will you prepare your website, your staff, your shipping procedures, your pricing, and your sales expectations?
When e-commerce grows that much, who will control the market? How will customers shop? Via their mobile? Via Alexa? If e-commerce is the dominant form of shipping, how will your online product selection and prices be kept up to date online? If online ...
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