How a drawing on a bar napkin led to a software platform that processes trillions of calculations
April 15, 2024
In 2007, while sitting at the pub Moran’s with a beer, I drew a sketch on a napkin that would change our business. I drew a software model that would allow an indie store to instantly show (and sell) thousands of products online—without any labor. (The secret sauce: The respective brand would do the product update work for the merchants.) The immediate goal was to help my two retailers more efficiently load products onto their websites (and save me the boredom of doing it).
We watch trends to share them with our members and help them capture orders. Forbes shares 35 helpful e-commerce statistics and we picked out a few highlights for you below:
Key Statistics:
20.1% of retail purchases are expected to take place online in 2024.
By 2027, 23% of retail purchases are expected to take place online.
E-commerce sales are expected to grow 8.8% in 2024.
52% of online shoppers report shopping internationally.
How a store owner can replace labor-wasting website maintenance with a free car
April 5, 2024
The new 2024 Model 3 Tesla is here and a store owner can get it for free. All they have to do: replace their labor-wasting website maintenance with our Syncing service. A store owner saves more than $400 (the average cost of a Tesla lease) each month and make their customers happier.
In March, brands raised their prices 8% on 828 products.
April 2, 2024
In March, brands raised their prices on 828 products, producing an average price increase of 8%. If a retailer didn’t make these changes, these price increases would cost their store 8%.
Thankfully, indie stores using Shop Local have the updated price for these 828 products. They don’t lose 8%. The stores receive the updated prices instantly via our Syncing service.
About the Syncing Service
Syncing is a free service for retailers that is paid for by partner brands. ...
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A McKinsey study found that the average life span of companies listed on the S&P 500 was 61 years in 1958; today, it’s less than 18 years. McKinsey believes that by 2027, 75% of S&P 500 companies will have disappeared. New businesses have an 81% chance of surviving their first year; in two years, a little less than 70% of businesses are still standing. Only 25% make it to 15 years or more. There’s a clear long-term trend of declining corporate longevity, with this figure ...
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How the Syncing service helps retailers save time and money.
March 4, 2024
In February, brands raised their prices on 9,378 products, producing an average price increase of 6%. If a retailer didn’t make these changes, these price increases would cost their store 6%.
Thankfully, indie stores using Shop Local have the updated price for these 9,378 products. They don’t lose 6%. The stores receive the updated prices instantly via our Syncing service.
How to share your Shop Local Store and gift registry service on social media.
December 18, 2023
Your Shop Local Store has a new feature: We've added a new "Social Media" section to your Marketing Materials page. This new feature makes it easy to promote your Shop Local Store and registry service on your social media account.
In the "Social Media" section, you'll find a graphic and the following text that you can post on your social media account:
.............................
Receive wedding registry gifts via our store in just four steps:
You're invited to use this template in your store. You can customize it with your store's registry QR code and website URL. If you need help making this, please ask our coaches.
Benefits:
Get more brides to register.
Sell more: each registry generates on average $1,000 in online orders.
We've created the template. All you need to do is print it ;)
Steps to make your template:
We've attached the template to this post. Please download it.
Amazon and third-party delivery services have setup a “warehouse” outside the Astor Place USPS office. This is not a truck parking for five minutes. This a day-long, everyday occurrence. I’ve seen this same scene on a daily basis all around the city for the last three years.
This hurts local retailers. While the local businesses pay extra taxes to operate a store in southern Manhattan, it costs Amazon much less to park a delivery truck (permanently?), put ...
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In September, brands raised their prices on 910 products, producing an average price increase of 9%. If a retailer didn’t make these changes, these price increases would cost their store 9%.
Thankfully, indie stores using Shop Local have the updated price for these 910 products. They don’t lose 9%. The stores receive the updated prices instantly via our Brand Syncing service.
Shop Local analyzed the websites for the top-20 selling brands in the tabletop and giftware industries. We assessed what discounts brands offer when one signs up for a newsletter.
Brand Study Findings:
Of the 20 brands, 5 (25%) offer a discount when one signs up for a newsletter.
For brands that offer a discount, the average discount is 15% off.
Some brands offer other promotions for signing up for a newsletter, including free shipping and a raffle entry.
How premium plan tiers help businesses sell more and increase margins.
September 7, 2023
Dating apps are launching higher-priced premium tiers, according to last week’s The Wall St. Journal. Hinge offers a new $50/month plan, and Tinder is launching a $500/month plan. The League already offers a $1,000 plan. These pricey plans take the sting out of Bumble’s $60/month plan.
Why are companies offering such plans? Because even if Tinder only gets 10% of users, that's millions. Plus, the profit and margins are likely higher for customers using these plans. A normal ...
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In June, brands raised their prices on 2,410 products, producing an average price increase of 12%. If a retailer didn’t make these changes, these price increases would cost their store 12%.
Thankfully, indie stores using Shop Local have the updated price for these 2,410 products. They don’t lose 12%. The stores receive the updated prices instantly via our Brand Syncing service.