How having the right defaults makes decisions easier for clients and helps them be more successful.
January 27, 2023
When you look at your driver’s license, it lists if you’re an organ donor. Twenty years ago, only 20% of people were donors, but today 80% are—thereby saving millions of lives. Did people become more kind? No, the question on the application was changed from opt-in to opt-out. People signing up for or renewing a license are now by default enlisted in organ donation. Lesson: the right default answer in medical care can save millions of lives. Similarly, the right defaults ...
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Our retailers recently told us that customers are calling and asking about non-existent brides, and brides are asking about non-existent registry gift lists (e.g. wedding registry lists, baby lists).
We investigated the issues and below is what we found.
What is Happening:
We found that many of these purchases are coming from registrants that open a ‘universal registry’ on websites such as Zola or MyRegistry. These universal registry services allow the registrant to add ...
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Our retailers recently told us that they were confused by strange registry orders. The stores are receiving gift registry orders on their sites but the retailer does not have a registry for the gift recipient at its store. Customers are calling and asking about non-existent brides, and brides are asking about non-existent registry gift lists (e.g. wedding registry lists, baby lists).
We investigated the issues and below is what we found.
What is Happening:
We found that many of...
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I discovered a page on Amazon’s site proclaiming that Amazon supports small businesses. That is news to me and many small businesses which have been attacked by Amazon, its deep pockets, and its army of millions of delivery people and thousands of warehouses. Amazon’s page says it helps small businesses, which it defines as having under 100 employees and less than $49 million in sales. (It says it uses Gartner’s definition.)
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.)
Summary: you give a store $268 and you get $200. (Bridge covers the $468.)
In the book The Cold Start Problem, Andrew Chen says that the 'network effect’ is really three effects:
The acquisition effect
The engagement effect
The monetization effect
In the beginning, a business seeking to build a network has to concentrate on acquiring users, even if they are non-paying. Companies often give away the service, especially software companies, and we can see that with Facebook, Slack, TikTok, and many others. Bridge didn’t do ...
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While buying a beer this past weekend in Philadelphia, I spotted this cool beer can with a ‘Back to the Future’ themed design. I was happy to see on the can, which is brewed by Three 3’s Brewery, a “Drink Local” campaign. Supporting local businesses, whether they are breweries or gift shops, is a mission dear to us.
Internet pioneer, Vint Cerf, made a big break through by drawing it on the back of an envelope in 1983. This story, shared in today’s The Wall Street Journal, hit home because I first drew the concept for Bridge’s Product Syncing solution on a napkin at a Chelsea bar in 2007. That concept now helps 1,100 indie shops sell 60k+ products from 100+ premium brands, including Le Creuset, Baccarat, and Versace. Since that drawing, I’ve become a big fan of drawing processes to ...
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While drinking Athletic, a non-alcoholic (fake!) beer, I noticed that its box proclaims that it gives back 2% to local trails. I love walking trails, and I thought: the next time I venture to have a sober night, I’ll pick up another box of Athletic. (Thanks, Athletic, for giving out $2.5m in trail grants.) Warby Parker gives a pair of eyeglasses for each pair bought (they've given 10m pairs!), while Bombas does this for socks. Bookshop.org gives a percent back to small ...
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I was happy to learn that our friends at Savannah Bee and Ivystone have expanded their relationship. Savannah Bee, a partner in our Bridge Product Syncing service, has expanded its representation with Ivystone, also a Bridge partner, to cover more sales regions. Ivystone will now cover the honey brand across the country, supplementing the brand with 85 sales reps. (Previously, Ivystone only represented the brand in the Northeast.)
The Times' magazine recently reviewed the book summarizing service Blinkist. Blinkest claims to give members $89,000 in value (the combined value of books offered) for $8/month. That's a great deal for readers.
A great deal for retailers: Bridge gives retailers $65k in value for $0 month. Bridge offers approved retailers up to 65,000 products from 109 premium brands for $0 per month. We estimate that each synced product to their online store saves them $1 and three minutes in labor...
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Today’s Gen Z gift registrants want to do everything online, often on their iPhone 14. They want to start a registry, add products, remove products, edit quantities, and view purchases. They don't want to call the store to do this.
In the adoption of digital tools, another trend is also at play: female shoppers are busier than before. Today, more women graduate from college than men. Women are increasingly doctors, CEOs, and world leaders. (Italy just welcomed its ...
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When I was a kid, my mom instilled in me a lesson to always get paid for my work. When I went to mow a lawn or do my newspaper route, she’d remind me, “Be sure you get paid.” As an adult, these flashbacks are vivid like a scene from Citizen Kane—just swap out the Rosebud sled with my newspaper delivery bike. Today, this lesson still resonates when running Bridge. When calling a store that hasn’t paid its Bridge bill, I’m confident in asking ...
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While eating a slice of coal-fired pizza at Arturo’s in Soho yesterday, and getting an occasional whiff of Houston Street garbage, I had to admit: I was at a loss for insight to share with my coworkers this week. Each week, I send out a motivational message to my team that precedes a summary of what they accomplished. We call this report the Brick report. This would be my seventy-second Brick introduction: What else could I say--and would they miss it if there was not an introduction...
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At the Bridge ‘office’ (which stretches from Seattle to Brooklyn), we’re currently reading Jim Collin’s book Beyond Entrepreneurship 2.0. We’re reading the book together because it helps us learn insights into working together and running the best company we can. On page 275, Mr. Collins shares an anecdote about a group of workers at an airplane manufacturing facility during World War II. The workers found inspiration from meeting the crew that flew the planes they ...
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An article in today’s Times cites the high cost of acquiring customers, which ranges from $100 to $800. Excerpt:
“Estimates of an often-cited retail metric known as customer acquisition costs range from $100 to more than $800 per customer, said Daniel McCarthy, a professor at Emory University’s Goizueta School of Business, who has done extensive research in the field.”
Physical retail is one of the most expensive ways to acquire customers. An online ...
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Your Bridge has a new feature: you can now more quickly add product pictures. You can now drag an image from another web page to your account to add the image. This saves you many steps compared to the traditional path.
To view your new feature, visit a product's Detail page. Below the image, please click on the button "Add Product Image." You will see a drop-down. You can choose the steps that best fit your needs.
1. Find the image you will load for the product...
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