Some Shoppers Still Like Small Retailers — A Lot!

Posted on April 21, 2014 by bermanevansretail
Although this is the era of huge retailers, many shoppers still like patronizing small companies — even though large firms account for most retail sales revenues.
As reported by eMarketer:
“U.S. consumers are choosing small businesses because of the personalized experiences they provide compared with larger businesses. According to April 2014 data from AYTM Market Research, personal service was the No. 2 reason US internet users preferred small businesses vs. large companies, cited by 52.7%. This trailed supporting the local economy (56.2%), but it led all other options by at least 23 percentage points. Lower prices did not play a huge role in choosing small businesses. In fact, 61.2% of respondents said they would pay higher prices to support small businesses.”
How much do YOU patronize small firms?
US consumers are choosing small businesses because of the personalized experiences they provide compared with larger businesses. According to April 2014 data from AYTM Market Research, personal service was the No. 2 reason US internet users preferred small businesses vs. large companies, cited by 52.7%. This trailed supporting the local economy (56.2%), but it led all other options by at least 23 percentage points. Lower prices did not play a huge role in choosing small businesses. In fact, 61.2% of respondents said they would pay higher prices to support small businesses.
Read more at http://www.emarketer.com/Article/Consumers-Favor-Small-Businesses-of-Their-Customer-Focus/1010771#EboWWPlBKfOoduRI.99
US consumers are choosing small businesses because of the personalized experiences they provide compared with larger businesses. According to April 2014 data from AYTM Market Research, personal service was the No. 2 reason US internet users preferred small businesses vs. large companies, cited by 52.7%. This trailed supporting the local economy (56.2%), but it led all other options by at least 23 percentage points. Lower prices did not play a huge role in choosing small businesses. In fact, 61.2% of respondents said they would pay higher prices to support small businesses.
Read more at http://www.emarketer.com/Article/Consumers-Favor-Small-Businesses-of-Their-Customer-Focus/1010771#EboWWPlBKfOoduRI.99
US consumers are choosing small businesses because of the personalized experiences they provide compared with larger businesses. According to April 2014 data from AYTM Market Research, personal service was the No. 2 reason US internet users preferred small businesses vs. large companies, cited by 52.7%. This trailed supporting the local economy (56.2%), but it led all other options by at least 23 percentage points. Lower prices did not play a huge role in choosing small businesses. In fact, 61.2% of respondents said they would pay higher prices to support small businesses.
Read more at http://www.emarketer.com/Article/Consumers-Favor-Small-Businesses-of-Their-Customer-Focus/1010771#EboWWPlBKfOoduRI.99
US consumers are choosing small businesses because of the personalized experiences they provide compared with larger businesses. According to April 2014 data from AYTM Market Research, personal service was the No. 2 reason US internet users preferred small businesses vs. large companies, cited by 52.7%. This trailed supporting the local economy (56.2%), but it led all other options by at least 23 percentage points. Lower prices did not play a huge role in choosing small businesses. In fact, 61.2% of respondents said they would pay higher prices to support small businesses.
Read more at http://www.emarketer.com/Article/Consumers-Favor-Small-Businesses-of-Their-Customer-Focus/1010771#EboWWPlBKfOoduRI.99
US consumers are choosing small businesses because of the personalized experiences they provide compared with larger businesses. According to April 2014 data from AYTM Market Research, personal service was the No. 2 reason US internet users preferred small businesses vs. large companies, cited by 52.7%. This trailed supporting the local economy (56.2%), but it led all other options by at least 23 percentage points. Lower prices did not play a huge role in choosing small businesses. In fact, 61.2% of respondents said they would pay higher prices to support small businesses.
Read more at http://www.emarketer.com/Article/Consumers-Favor-Small-Businesses-of-Their-Customer-Focus/1010771#EboWWPlBKfOoduRI.99

 

 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 4: Store Location Planning | Tagged , , , , , , , , , | 1 Comment

Etsy Adds to Its Business Portfolio with Wholesaling

Posted on April 20, 2014 by bermanevansretail
Etsy, founded in 2005, is a popular online retailer that focuses on handmade, vintage, and other artisan products. It is a latter day eBay: “Etsy is a marketplace where people around the world connect to buy and sell unique goods. Our mission is to re-imagine commerce in ways that build a more fulfilling and lasting world.”
In 2013, Estsy facilitated $1.35 billion worldwide in sales transactions. It has more than 30 million members and more than 1 million active shops, and it has listed more than 20 million different items.
Now, Etsy has decided to move further into wholesaling as part of its business portfolio. Is this a good idea?
According to Elizabeth A. Harris, writing for the New York Times:
“Although Internet retailing is a growing market, more than 90 percent of retail commerce still takes place in physical stores, and like many retailers that started online, Etsy wants a piece of that action. Instead of opening locations, Etsy wants its sellers to take wholesale orders, so that through them, Etsy can be in thousands of stores at once without ever cutting a rent check.”
“After spending a year in beta, Etsy plans to make its role as a wholesaler official. Etsy will charge a 3.5 percent commission on each wholesale transaction, the same cut it takes on its retail Web site, and substantially lower than a standard wholesale markup. Etsy will start charging for wholesale in August.”
Its wholesale site URL is https://www.etsy.com/wholesale.
To see a NY Times’ video, click here.
To read more of Harris’ story, click the image below.

 

 

Posted in Online Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer | Tagged , , , , , , | 2 Comments

7-Eleven’s BIG Pizza Sweepstakes

Posted on April 18, 2014 by bermanevansretail
To generate more excitement among its customers, 7-Eleven is now sponsoring a “Pizza for Life” sweepstakes. 7-Eleven only started selling pizza — one of the most popular food items in America — about five years ago.
As the retailer says at its Web site:
“Here’s a slice of life. Actually, make that the whole pizza pie. 7-Eleven, Inc. will give some lucky pizza-lover a lifetime of hot, cheesy pizza in the first-ever Pizza for Life Sweepstakes. The contest runs through Friday, May 16, which happens to be National Pizza Party Day. Entrants must be at least 18 years old to participate and can enter once a day. The prize value is $10,500, and the winner will be notified by the end of May.”
“’Pizza is popular with our guests,’ said Laura Gordon, 7-Eleven vice president of marketing and brand innovation. ‘Because it tastes so good and is a great value. No coupons, no limited time offers – just large hot pizzas for $5.55 each. The only better deal is if you happen to win the Pizza for Life sweepstakes!’”


 

Posted in Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 7: Communicating with the Customer | Tagged , , , , , , , | 1 Comment