Curious why you don’t sell more online? Answer: selling online is brutally competitive. Just ask Brandless, a company with more than $100m in funding that just closed and laid off all 70 employees. Selling online often produces the opposite of what you’d expect: thin margins.
One bright spot in e-commerce: gift registries. Gift registry orders have higher margins, lower customer acquisition costs, and a built-in promoter for your site: the bride. Don’t think this...
Read More
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 ...
Read More
Are websites a waste? I'll thank they are and I'll explain. But first, it's important to note that websites are different from platforms. A website is something for which your business is solely responsible. A platform is a digital service to which you subscribe that you are not solely responsible. You may add content and pictures, etc. but you do not manage the technical aspects. You likely use platforms including Facebook, Instagram, Amazon, and Airbnb.
New E-mail Scam Targeting Invoices and ACH Payments
There is a new scam where hackers take over a brand’s email account and request payment via ACH. This financial scam recently happened to a brand that we know. Please note: Bridge has not been a victim of this scam. We are warning businesses to ensure it does not happen to our friends.
Here is how the scam works:
1. A hacker takes control of an employee’s email account such as their Microsoft email user ID and password. This is likely done via a...
Read More
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 ...
Read More
September 30, 2019
September 30, 2019
Social media (i.e. Facebook) is now the leading tool scammers use to successfully steal from people—beating e-mail, telephone, and websites.
Be wary of links leading to eBay and Craigslist, and stay away from bank and wire transfers.
Credit card may be the safest purchase option.
View Post
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 ...
Read More
This month’s HFN magazine shares a letter that I wrote to the editor. In the letter, I encourage the industry to team up and push back against Amazon and big online entities in order to ensure our long-term survival. I welcome your feedback on it.
.....................................
Fifty-four percent of people looking for a product go directly to Amazon.com, shared a front page story in this week’s Wall St. Journal. This 54 percent is not good for nearly anyone in our ...
Read More
April 5, 2019
April 5, 2019
54% of people looking for a product go directly to Amazon. That’s not good for nearly anyone in our industry. Amazon takes a 30% cut and keeps all the customer’s contact information (email, tel, address). If you’re a retailer, you can’t operate a successful business giving away 30% of your 50% cut of a retail sale.
If you’re a brand, over the last few year you were probably relishing in selling direct, cutting out the rep commission, and getting 100% of the sale. Well now Amazon is your new ...
Read More
March 28, 2019
March 28, 2019
I was going to recommened reading this Shopify article about converting website visitors to shoppers but then I realized what a rip off Shopify is.
In the screen shot shown, we see Shopify promote nine apps. The apps use the 'freemium' model where you try it for free, then often quickly get stuck paying. In sum, Shopify is nickel and dime-ing users.
When you use Shopify, it's like going to Disneyland and paying for each ride separately. You think that the theme park will be fun but by the time ...
Read More
March 2, 2019
March 2, 2019
This article about small banks could’ve very well been written about small retail stores. The future is tech. Bank of America has spent $20b on tech since 2012. Big retailers have likely spent that or more. And small businesses often don’t have the resources to make customers happy online. Much less survive a hacking attempt. I spent the last 2 weeks dealing with hackers from Asia. It took 3 tech people 2 weeks. Expensive. Time consuming. If small stores had to deal with this on their own, most ...
Read More
January 5, 2019
January 5, 2019
Amazon may start a bank—and become a competitor to JP Morgan. Imagine if Macy’s or Walmart owned a bank. When a customer makes a large purchase, would that make them more appealing than your business? Financing an engagement ring?
Amazon already offers third-party backed credit cards (Chase), cash cards, and a digital wallet, and it’s exploring adding financial integration with its Alexa platform.
As you likely know, Gump’s filed for bankruptcy. The famous San Francisco indie store's crash is having wide-ranging consequences for our industry. 41 Madison tenants likely lost more than $1,000,000 on Gump's.
Yet, the economy and stock market are doing very well. How to explain these contrarian events? Furthermore, you surely are asking: How did Gump's reach this low--and more ...
Read More
August 16, 2018
August 16, 2018
One of our hottest selling baby gifts! Never too early to start saving for UGA!
View Post
August 13, 2018
August 13, 2018
The Left bank, one of Jon Hart’s most popular totes, if marked down to $170 from $202 during the fall promotion. Get in and order yours today!
View Post
August 7, 2018
August 7, 2018
Gump’s Files for Bankruptcy
The retailer has $61 million in assets and $64 million in liabilities, according to published reports
August 6, 2018, Allison Zisko ......................................................
LAS VEGAS—Gump’s, after looking for strategic alternatives to stay afloat, filed for Chapter 11 bankruptcy protection in Nevada Bankruptcy Court here on Friday night.
The San Francisco-based luxury department store is looking for a buyer, according to a report in SFGate, and plans to ...
Read More
November 28, 2017
November 28, 2017
The Earthenware Factory of gien has been making earthenware in France since 1821, on the banks of the loire. The collections peintmain of gien are recognized for their quality and originality and are distinguished by the finesse of the line, the colours of its aplats. What if your gifts had this little extra soul in the hands of the artists from the workshops?
View Post
November 28, 2017
November 28, 2017
A GIFT IDEA THAT FITS THE BILL! Saving with our Something Duckie Bank is stylish fun for people of all ages. To see a truly wild selection of gift ideas.
View Post