Although summer is fading, ice cream season remains in full swing for millions of sweet-toothed Americans. Last year consumers in the U.S. bought $13.7 billion worth of the dessert, an enormous number that doesn’t even include restaurant sales. And according to a recent study, 40 percent of Americans will eat ice cream in any given two-week period. Nevertheless, on the whole people consume a lot less of the cold stuff than they did 25 years ago. Back in 1989 Continue reading
Although nothing in business is a sure thing, few industries are more volatile than apparel retail. In this unpredictable world, it can be almost impossible to guarantee success for a brand. For instance, Target and Kmart spent years dueling for dominance until the former won out with its more upscale marketing. However, long-term prosperity grants no safety net. Abercrombie & Fitch ruled the preppy clothing market for more than a decade, but now sales are falling as younger consumers view Continue reading
Last year the retail chain Staples signed a contract to become the State of New York’s official office-supplies vendor, which looked like quite a coup at the time. After all, the agreement put Staples in direct contact with city halls, schools, police departments and charities across the state. In fact, the company was so desperate to tap this lucrative market that it pledged to sell a number of products for just a penny apiece. While this bold promise helped Staples Continue reading
Walmart became the largest retail chain in the U.S. by offering customers the same low prices every day. As it expanded globally, however, the company found out that not every culture responds to this pricing strategy. For instance, Walmart has had a hard time winning over Brazilian consumers despite opening 550 stores in nearly 200 cities. That’s because most people in the large South American nation are happy to hunt for the best deals at a variety of stores rather Continue reading
Nobody likes to wait in line for the bathroom, but sometimes that’s just the way things are at big, busy venues like stadiums and airports. Entrepreneur Allen Klevens couldn’t accept this fact of life, however, and set out to fix it with his new product Tooshlights. These small beacons rest at the top of a bathroom stall door and glow red if the space is occupied or green if it’s free. Klevens hopes this clever stop-and-go system will drastically speed Continue reading
In order to turn a successful business into a successful franchise, an entrepreneur needs a strong concept along with good people to implement it. That’s exactly what Allen Hager set out to do when he launched his home health care company, Right at Home, as a franchise nearly 20 years ago. By expanding the business plan and setting strict hiring policies, Right at Home has grown into a company with nearly 400 locations across the world and $265 million Continue reading
When Howard Schultz first joined Starbucks as marketing director in 1982, the small Seattle company made most of its money selling coffee-making equipment. Once Schultz landed the CEO position, however, matters changed drastically. Looking to bring the European café experience to American shores, Schultz transformed the regional chain into an international behemoth within two decades.
Starbucks changed again when Schultz stepped down as CEO in 2000. After a rapid expansion saw the company grow to more than 15,000 stores Continue reading
For many entrepreneurs, the best ideas come around when you least expect it. That’s what happened to Chelsea Briganti and Leigh Ann Tucker after they graduated from New York’s Parsons The New School for Design in 2010. In an effort to expand their portfolios, the pair of young designers entered a number of product creation competitions. At one event centered on Jell-O, Briganti and Tucker designed an edible drinking glass using agar, a seaweed-based gelatin that is odorless and Continue reading
Cigarettes kill more than 5.4 million people each year, a 30 percent increase over the past two decades. Although cigarette use has generally fallen in the U.S., increased use in Asia and Eastern Europe has ensured that the tobacco industry is bigger than ever. Innovation has also hit the cigarette business in the form of e-cigarettes, electronic devices that heat up liquid nicotine to a vapor that is then inhaled.
Like everything related to tobacco, e-cigarettes have been controversial since Continue reading
As recently as the early 2000s, the stereotypical image of the corporate careerist typically included a flashy convertible jetting down the highway with a set of expensive golf clubs stashed in the trunk. Nowadays, though, these once weighty symbols of wealth and status have plummeted in popularity. Instead of a cherry red Corvette, modern executives and ladder climbers would prefer to cruise to their next meeting in a big SUV. And thanks to smartphones, the golf links aren’t the same Continue reading