What your business can learn from the celebrated economist Daniel Kahneman
April 3, 2024
Daniel Kahneman, the celebrated economist, passed away last month. The Nobel Prize and Presidential Medal of Freedom winner gave us insights into the economics of the mind, such as people fearing loss more than gain, making short sighted decisions, and overly relying on feelings.
We can often use Mr. Kahneman's insights in our business's daily operations.
Jim Shreve made Baccarat hip. Now, he and his longtime partner, Mark Brashear, along with Sally Burnside, the former Baccarat sales V.P., intend to do the same for DeVine Corp., the 32-year-old distributor of elite European brands. You're invited to the opening!
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Congrats to you all. This is very exciting. Tim, we’ve known each other since before you started DeVine Corp., 32 years ago. You’ve been looking for the right opportunity to retire. TIM ...
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We're pleased to share that renowned cutlery brand Zwilling is joining the Syncing service.
We expect Zwilling products to be ready for Syncing by April 8th, 2024. We'll keep members posted about the actual date as we progress with the brand's boarding to our platform.
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About Zwilling
Zwilling was founded in Solingen, Germany in 1731 by Peter Henckels making it one of the oldest brands in the world today. Zwilling is part of the ...
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We're pleased to share that LAFCO is joining the Syncing service.
We expect LAFCO products to be ready for Syncing by April 5th, 2024. We'll keep members posted about the actual date as we progress with the brand's boarding to our platform.
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About LAFCO
LAFCO (Luxury Articles and Fragrance Company) was created in 1992 by founder and nose, Jon Bresler, and his passion for the European tradition of botanical-based fragrances and ...
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Your Shop Local account offers a built-in solution to shop thousands of products. The Wholesale service combines the best features from wholesale marketplaces and buying on a brand’s site into a new service. Shop Local retailers can save time and money by using the Wholesale service.
The Ivy House, an indie retailer in Texas that has used our e-commerce software since 2015, uses the Wholesale service to save time and money. Laura May, the owner of The Ivy House, easily places...
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Staff at manor department stores like Saks are finding success with Instagram and social media. The Information shares this:
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Tyler Bell was encouraging all her clients to “tag your bag.” Every time Bell, a Saks Fifth Avenue stylist in Troy, Mich., closed a sale, she asked the buyer to show off their purchase on Instagram and tag her account, @tyler.saks. Bell posts Saks inventory multiple times a day on Instagram Stories. Her 27,000 followers will...
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TikTok and Amazon are battling in the retail space. TikTok wants to be a retailer, and Amazon wants to be more of an influencer platform. These two share the same goal: get users to share a product link, recommend the product, and get a cut of the sale, shares The Wall St. Journal.
This article and these companies speak to the power of affiliate marketing. One of Amazon’s long-standing secret growth weapons has been affiliate commissions, and influencers are a well-known ...
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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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How limited resources can motivate teams to accomplish goals and breed solutions.
September 3, 2023
India last month joined three other countries in the exclusive club that has put a craft on the moon. What’s unique about India’s accomplishment is that it did this at a fraction of what the U.S. spends on space exploration, shares Ben Cohen in The Wall St. Journal. While the U.S.’s NASA program has a $24b budget, India’s ISRO (Indian Space Research Organisation) budget is just $1.3b. India, which started its space program in 1963, is able to do more with less because of ...
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“We don’t make movies to make money, we make money to make more movies.”
~ Walt Disney
I read this quote in ‘Show Your Work’ and wondered how it applied to our mission here at Shop Local. I asked my team and they submitted their interpretations. One colleague even used an AI tool.
Team Submissions:
“We don't make Shop Local to make money, we make money to sustain Indie Stores.”
~ Jim
"We didn't make this software just to ...
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We're happy to share that Syncing is free for retailers. Initially, retailers paid $149 per brand per month. Over the years, we reduced the monthly flat fee until we were able to make it free.
We can afford to offer the service with no flat fee because we charge a small commission when an online sale is made. We only get paid when the service performs for the retailer. This ensures that retailers only pay for results. This commission model makes us work harder to bring the ...
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EMON MAASHO, CEO AND PRESIDENT OF ORREFORS, NORTH AMERICA, is representative of the exciting trajectory in this 125-year operation. The über-exec joined the New Wave Group in 2013, a time when Orrefors and Kosta Boda (OKB) were underperforming assets in the portfolio. "Our crystal brands are national treasures and a part of Swedish history," Maasho affirms. And he wanted a front row seat in their revitalization. Maasho was placed in charge of the new hotel and restaurant division ...
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What Threads can teach us about leveraging our existing network when launching a new service.
July 22, 2023
Threads, a new Twitter-like service from Meta, the owner of Instagram, launched this month and almost immediately attracted 40m active daily users. The service’s growth has since stalled and now has just over 10m daily users, but that is still commendable. The Wall Street Journal shared that this impressive launch was largely possible because Meta used its built-in network of one billion Instagram users. This user base helped it overcome the “cold start” problem of acquiring ...
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What we can learn about a company through its mission statement.
June 30, 2023
This past week, I read a mission statement from The Knot's corporate website (https://www.theknotww.com/). The statement included a paragraph and five principles. The paragraph describes what the parent company does. The statement says:
"We help couples around the world navigate and enjoy life’s biggest moments together. As a global company, our industry-leading websites, top-ranked mobile apps, and trusted resources provide the most sought-after information, connections, and ...
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In this new webinar for sales reps, I share why your retailers are struggling online and underselling your lines. I share how you can help them and boost your commissions by 18%.
How big data, filters, and search engines can help us create a better experience for our members.
May 26, 2023
Apple announced last month that it's launching a new classical music app. What’s novel about the Apple Music Classical app is how it lets music fans more easily search thousands of variations of the same song. For example, let’s say you want to find a Johann Sebastian Bach song. Over the past 300 years, many musicians have done ‘covers’ of his works, and there are variations by conductor, music, year, etc., thereby producing thousands of variations. Existing software ...
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I'm giving you a $200 finder's fee when you refer a store.
When you refer a store, the store will receive $268. It will receive $100 towards a wholesale order with your brand and a $168 credit towards their registry service with us. (My company is paying the $100 wholesale order credit.)
This offer is good through May 1, 2023.
Summary: you give a store $268 and you get $200. (Bridge ...
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