Ancient Greek philosopher Plato wrote in the Dialogue Republic, “A need or problem encourages creative efforts to meet the need or solve the problem.” This statement led to the phrase “Necessity is the mother of Invention." These words could very well describe Shop Local and how we came to exist. Over time, some have suggested the phrase could be tweaked to read “necessity is the mother of reinvention." This phrase also parallels Shop Local's ethos of supporting...
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Great news: Tableware Today, the bi-monthly print magazine dedicated to our industry, will be publishing our Leaderboard results on the last page of each coming issue.
This article below will appear in the October/November 2024 issue of Tableware Today and explains our inspiration for the Leaderboard.
The Wall Street Journal recently shared how the used car market has improved in the last 20 years because much of it is now conducted online. When car buyers use the web, they’re more likely to save money (about 2%) and dealers can, in theory, make more with dynamic pricing (about 2%) thereby giving each party a win. Unlike 20 years ago, when we didn’t have smartphones, today 95% of used car purchases start online. While 31% of used car purchases were completely in-person, ...
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Why only 30% of wedding gift givers will come into a store in 2030--and how we can help prepare for that
July 23, 2024
Tableware Today’s Editor Amy Stavis invited me to pen the Last Word column for the August / September issue. I start by comparing e-commerce trends for selling automobiles to selling dinner plates. Online sales in both industries have swelled in the last 25 years. (I entered the e-commerce business at the right time—in 2001.)
I predict that 70% of wedding registry gift givers will never set foot in a physical store by 2030. Currently, that number is at about 50%. If we do in fact ...
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FOR RETAILERS, SALES REPS, AND THOSE WITH WHOLESALE ACCESS
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As the new year is underway, there’s reason to be bullish (or, at least, not bearish) about what 2024 may have in store. Holiday retail sales increased 3.1% despite lingering inflation, thanks to robust job growth and strong wage gains, which came as a big relief for retailers. Price-conscious consumers are still spending, suggesting the economy is strong. “What we’re seeing this holiday season is very consistent with how we’re thinking about the economy, which is that it...
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How competitive techniques can help lure clients and grow a network.
September 10, 2023
Andrew Chen shares in 'The Cold Start Problem' that many times, networks are competing in a zero-sum game. One network gets a customer to join their network and thereby not participate in another. For example, when a driver used Lyft instead of Uber, Uber, which Chen helped, lost. And it lost in two regards: Uber lost the revenue from the lost ride, and Lyft gained the revenue. Chen’s team was tasked with getting drivers to use all their time driving for Uber and thereby unraveling Lyft&...
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How we can celebrate indie stores and promote sales by hosting a Save Local event.
February 23, 2023
When one thinks of shopping locally, some consider it an act of charity. One may pay more and get less selection. That’s not a recipe for success. In contrast, the world’s most successful retailers, Walmart and Amazon, operate on just the opposite principles: low prices and massive selection. When I’m in Walmart's Panama City Beach location, it’s so massive I feel like I’m in the Giants' stadium. Amazon sells 12m items on its website (350m if you count the third-...
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With our retail members in the throes of the holiday season, it was nice to read an article by Retail Dive providing some insight into Q4 2022. Retail Dive, a retail industry publication, informs readers that big-box stores share much of the same friction as our indie retailers do. I appreciated the acknowledgement that independent stores may feel disruptions quicker and may even have an edge on providing a more superior customer experience to gaining loyalty. The good news is that there are ...
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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 the early 2000s, the board game Cranium became a hit. The game combined elements of Scrabble and Pictionary with the goal of helping more people enjoy playing a game. Richard Tait, who created Cranium and sold it to Hasbro in 2008 for $77.5m, passed away in July. Like Mr. Tait, I had been a paperboy, but he went beyond what I ever offered: he came up with a new service that sold breakfast sandwiches along his newspaper route. He increased profits and made customers happier. ...
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Amazon issued a press release stating that it is fighting with 10,000 Facebook groups that sell fake Amazon reviews. It’s ironic, since Amazon has been a chief promoter of the avenue allowing this behavior: Section 230. Section 230 allows tech platforms to host and indirectly promote just about any type of bad behavior, including illegal behavior (fake review services and yes, human trafficking, murder-for-hire, etc.) and then say it’s just a community space and belatedly remove the ...
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The next book our Bridge team may read is John List’s book The Voltage Effect. List, who is a behavioral economist at the University of Chicago, shares a variety of suggestions to grow a business. He warns us about false positives, such as what the “Just Say No” drug campaign experienced. He suggests we look for businesses with scalable ingredients. (People are not scalable, but good news for Bridge: software is!)
I'd add to List's advice this simple maxim: show ...
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My friend works at the Swiss running shoemaker ON. She recently texted me and suggested I try their running shoes. Three weeks later, I was handling two boxes of their Swiss engineered shoes. On one ON shoe, there is a little Swiss flag and the words “Swiss Engineering” printed. When I get a pair of Nike’s, they don’t say "Beaverton-engineering" or "US-engineering." Nor do Adidas shoes proclaim “German engineering.” ...
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Our job at Bridge is fighting for indie stores. A key indicator of our success is when we give your store more online orders. An important step in giving you more orders is: giving you more products online.
Good news: you have the Product Pass. This grants your business the power to sync with unlimited Product Syncing brands for free. This is the best way to fill your website with products.
Benefits:
The Pass allows you to sync with unlimited brands.