How we can honor those that came before us in the retail industry.
March 2, 2023
The founder of Juan Pollo Chicken, Albert Okura, passed away last week at the age of 71. Mr. Okura envisioned Juan Pollo, a fast food chain with 25 locations in Southern California, as a household name that would someday sell the most chicken in the world. He believed in this so much that he bought the site of the original McDonald’s restaurant, located in San Bernardino, CA, in 1998—not to turn it into a Juan Pollo restaurant but rather into a museum to honor his fast food industry....
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I was happy to learn that our friends at Savannah Bee and Ivystone have expanded their relationship. Savannah Bee, a partner in our Bridge Product Syncing service, has expanded its representation with Ivystone, also a Bridge partner, to cover more sales regions. Ivystone will now cover the honey brand across the country, supplementing the brand with 85 sales reps. (Previously, Ivystone only represented the brand in the Northeast.)
Bridge has something that every store needs, but doesn’t really want: product data. We get stores to trust us that they need our product data for 64,000 products from 109 brands. They really don’t want the data—they want the sales from it. The data itself is worthless, but the sales from it are invaluable. Do you know who also has this issue? Funeral directors. Last week's Wall Street Journal shares that mortuaries are leveraging bonsai trees, setting up bouncy castles, ...
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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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You’ve likely had a vodka-Red Bull cocktail in your lifetime, which was followed by a hangover for you—but helped drink co-founder Dietrich Mateschitz amass a $20b fortune. Mateschitz, who passed away last week at the age of 78, discovered the drink in the 1980s in Thailand and built it into a global brand. He promoted Red Bull, whose name is a translation of the drink’s Thai name "Krating Daeng,” via a variety of clever marketing initiatives. In the early 2000s, I ...
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In her new book ‘Quit,' Annie Duke shares that the best poker players only play 25% of the hands they are dealt, whereas others play 50%. Ms. Duke talks with Stewart Butterfield, the founder of a few startups, most recently Slack (which is an acronym, which I didn’t know). Slack wouldn’t have been born if Mr. Butterfield didn’t drop a video game company to start Slack. Likewise for Twitter which was born out of the failed blogging company Odeo. Ms. Duke's lesson: winners ...
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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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Last week, Amazon bought iRobot, the company that makes Roomba, the robot vacuum cleaner, for $1.7b. Why? Yes, their 'Rosie from the Jetsons' has AI and is in your home (which is where Amazon wants to be), but the reason Amazon wants it is because customers want it. Which leads us to ask: Why do customers want Roomba? Because it does something that humans find annoying and hate doing: cleaning. Roomba has spotted the value that robots bring to the world and it's not simply being ...
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NEW PRODUCTS ARE HERE!
We are in the process of updating our catalog on Bridge, adding new products and deleting retired pieces. We are still one of the only companies that continues to have all products made entirely in Italy, using Italian materials and being made by Italians. This is important to keep the classic methods of ceramic and woven kitchen towel industries in Italy going. We've been working with Italy and independent retailers for 22 years and we don't have any plans ...
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In the movie Good Will Hunting, Matt Damon, who plays a handsome MIT janitor moonlighting as a math savant (can one say, “Hollywood career vehicle”?), woos a young lady (played by the actress Minnie Driver) by outmaneuvering a few competing, obnoxious cads. When Damon’s character gets the girl's telephone number, he proudly shows it to the other guys and boasts, with his South Boston access, “How 'bout ‘dem apples?” I imagine Tim Cook imitating this...
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If someone has an American flag flying on their porch and Amazon boxes often at their doorstep, maybe they should take the flag down and put up a Chinese flag. Amazon appears to be profiting by cutting out much our domestic retail community and instead helping Chinese businesses. And don’t expect Amazon to pay much in local taxes either.
This past weekend’s WSJ shares how third-party sellers, many of them from China, have flooded Amazon with spurious listings, leaving ...
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When I explain Bridge's Product Syncing service, I sometimes compare the service to the store-within-a-store concept at the mall. I didn't know that Jerry Chazen, who helped found Liz Claiborne, pioneered that concept in the 1980s. Thank you, Jerry.
In the past, we’ve used spin classes and gyms as inspiration for Bridge. We see them as metaphors for helping retail business owners. The founders of SoulCycle, Elizabeth Cutler and Julie Rice, must have been eavesdropping on us: they are expanding their spinning approach to another sphere. The Times reports they have started Peoplehood, a business that seeks to help people via self-help (group-help?) sessions. It’s SoulCycle for the soul&...
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This past weekend on the way to Florida to visit my brothers, I read about Squarespace’s advertising history. (Read the article: https://www.nytimes.com/2022/02/13/business/how-did-squarespace-know-podcasts-would-get-this-big.html). In 2009, Anthony Casalena, the founder of Squarespace, paid $20,000 to advertise on a tech podcast. While that was a lot for a small, young company (Casalena had started his business just six years earlier in a dorm room in 2003), Casalena said the ...
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Jim Collins, in his book BE 2.0, explains how purpose and mission are important to companies. To help explain this, he uses the metaphor of crossing a mountain range and seeing a star on the horizon. Your purpose is to reach the spot on the horizon below the star. The current mission is climbing up the mountain you’re on. The next mission is climbing up the next mountain and so forth in order to get closer to the spot on the horizon. You will have many missions, and may never ...
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The Knot released its 2021 trends report and stores may be happy to hear that high-end merchandise is trending.
The report shares:
"...there's a newfound focus on elevated homeware items. As one of the resounding wedding registry trends to come from the pandemic, this one is here to stay. ...Couples that do want to register for traditional items like decor, cooking appliances or serveware will opt for high-end, elevated pieces that will stand the test of time—and spark a ...
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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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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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