July 15, 2014

The online, indie-driven craft store Etsy is giving their users a chance to sell their wares wholesale to retail outlets.

 

http://nyti.ms/1jFBb61

 

Questions:

  1. What are the major benefits of using Etsy to a firm like Worley’s Lighting?
  1. Do entrepreneurs like Shelli Worley often turn their hobbies into businesses?

From The New York Times

 

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Over the last few years, brick and mortar retailers have come up with some ingenious ways to gather data about the customers who walk into their stores. We’ve taken a look at some of them in past posts on this blog, including one story about “smart” mannequins that observe consumer patterns using cameras in the dummies’ eyes. Although that may skew a bit on the creepy side, it’s important to keep in mind that physical retailers are merely trying to Continue reading

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November 30, 2013

 

People today are becoming less and less dependent on cash, though you wouldn’t know it from looking at most vending machines. More than 40 percent of American adults said in a recent survey that they could go a week without paying for something in cash. Meanwhile, many of the nation’s vending machines continue to accept only bills and coins. This reluctance to change likely led to the vending industry’s 18.3 percent drop in sales between 2007 and 2011. When Continue reading

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November 19, 2013

 

For many image-conscious consumers, product customization provides a way to stand out from the crowd without searching high and low for something totally unique. At Big Shot Bikes, for instance, customers can choose the color and shape of up to 10 parts of the Colorado company’s fixed gear bikes. Once customers select their preferences, Big Shot assembles the bicycles and ships them to the buyers for under $500. With such a relatively reasonable price tag, the company wants consumers Continue reading

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October 20, 2013

For the last year or so, many of the articles about retail featured in this newsletter mentioned the perceived scourge of showrooming. This thoroughly modern phenomenon occurs when shoppers visit a brick-and-mortar business solely to browse before they ultimately buy a product for cheaper online. Fear over showrooming has gripped much of the retail world, leading at least one company to start charging people to look around their stores.

According to a recent Harvard study, however, the threat of showrooming Continue reading

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October 17, 2013

For many of today’s conscientious consumers, it’s not enough for a product to be simply affordable and effective. Environmentally minded diners, for instance, prefer to know as much about the origins of their food as possible. That’s why so many modern restaurants make sure the names of their organic and artisanal suppliers appear as prominently on menus as the dishes. Now the trend is expanding out of the culinary world and into retail as more and more clothing companies use Continue reading

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October 15, 2013

Wal-Mart became the world’s largest retailer by keeping margins low on everything, including employee compensation. For the Florida-based grocer Publix, however, keeping staff motivated through strong financial incentives is a recipe for success rather than instability. Publix’s net margins of 5.6 percent trounce Wal-Mart’s 3.8 percent, making it the most profitable grocery chain in the nation. With $27.5 billion in sales, it’s also the largest employee-owned company in America. Staffers control 80 percent of the company thanks to a policy Continue reading

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July 17, 2013

China’s surging economy has provided its citizens with a constellation of benefits that would have been scarcely imaginable even a decade ago. But of all China’s consumer-enabled freedoms, the opportunity for worldwide travel perhaps represents the nation’s biggest leap into modernity. After all, Chinese tour groups were forbidden from traveling to the U.S. until 2007. The following year, 493,000 Chinese tourists flooded America. That number has since grown to more than a million visitors annually. But that’s nothing compared to Continue reading

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April 25, 2013

manniIf you’ve ever walked into a store and instantly had the feeling like you’re being watched, it’s because you usually are. Between all-seeing security cameras and roving secret shoppers, retailers are busy keeping tabs on customers. Granted, brick-and-mortar stores have every right to be suspicious: inventory loss due to stealing takes a big chunk out of every retailer’s profits. But some customer-tracking techniques have nothing to do with shoplifting; it’s the customer’s shopping habits the businesses are interested in.

While Continue reading

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