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Deal Seeker Study Says Too Many Discounts Can Be Bad for Business

mVHGkx8“Would you like 20% off your order today?”

“No, thank you. I’d rather pay full price.”

Sounds silly when you say it that way, but as Experian points out in their new study, a good deal can sometimes be a bad thing.

There are two major issues – first is the perpetual deal. Deal days like Black Friday aren’t special anymore, which leaves consumers worried that tomorrow’s deal might be better than today’s deal, so they hold off buying.

Then there’s the point of sale deal – “these are buy one, get one 50% off. Do you want to go back and get another?” Sure I do, but I was ready to check out and go and now I have to get out of line and start over because I feel stupid leaving a deal on the table. Thanks retailer – your deal just made me feel bad.

Marketing Lessons from the Netflix’s Micro-Genre Generator

netflixIf you’re a Netflix subscriber, you’ve seen the, sometimes strange, micro-genre listings on your homepage. Tucked in with the usual designations such as TV Mysteries, Classic Movies, and Sitcoms, are lists for Spy Action & Adventure from the 1930s, Cult Evil Kid Horror Movies, and Sentimental set in Europe Dramas from the 1970s.

This week, I have “Goofy TV Comedies from the 1990’s.” This showed up because I’ve been watching Mystery Science Theater 3000, which I suppose is goofy, it was on TV in the 90’s and it’s funny, so I guess it works.

Alexis C. Madrigal, senior editor at The Atlantic was so fascinated by these strange encounters, he set out on a quest to understand and catalog all of the Netflix mico-genres. Final count? 76,897.

How Accepting Bitcoins Could Help or Hurt Your Business

Bitcoin SignDo you know what Bitcoins are? Before today, I thought I did but I was wrong. My mission to understand this new form of virtual currency started with an article on Bloomberg called “Bitcoin Buys Burgers to Beer as Shoppers Go Virtual.

I had always assumed that Bitcoin was like Paypal. You put real currency into an account so that you can use it to buy things easily. It’s like an ATM card with a Mastercard or Visa logo. Only, it’s not.

Bitcoin is actually an entirely separate form of currency. It’s the digital equivalent of using Monopoly money to pay for your meal. It’s not minted or backed by any one country. And though we need to compare it to our native currency just to keep our brains on straight, it actually has no relationship to almighty dollar. . .or the Euro or the British Pound.

Think Your Product Is an Impulse Buy? Run a Daily Deal

Recent research from Ryan Partnership (download page for study) shows just what online tools are best at helping move products.

If you have something that may not be a necessity but might be categorized as an ‘impulse buy’ it looks like daily deal sites are your best bet. This chart has been reproduced by Marketing Charts. Click the image to enlarge.

RyanPartnership-Digital-Tools-Most-Influence-Users-Dec2013

As we have seen over and over this year one of the mainstays of the online space is still email. The talk and the hype goes to social media but email looks to be one of the most effective ways to sell in the online space.

It’s not the sexy choice but when it rings the online register, who cares?

Delayed Deliveries and Sluggish Sales Make it a Not So Merry Christmas for Retailers

fedex SantaI was expecting one last gift to show up before Christmas but it didn’t get here. No big deal. I ordered the item late on Amazon and I wasn’t sure it would arrive. Besides, we had more than enough under the tree, so it will be a nice surprise for my son a week from now when all the excitement is over.

‘Tis the Season to Return Things

ReturnsAs ecommerce continues to grow it is also experiencing growing pains.

Increased sales are good but all the enticements of free shipping and more also lead to something that most online retailers dread: returns.

The Wall Street Journal is reporting on how this is impacting the online industry

Free shipping and lenient return policies have given online retailing a huge boost. Now, chains are mining their order data to get shoppers to keep more purchases.

Behind the uptick in e-commerce is a little known secret: As much as a third of all Internet sales gets returned, according to retail consultancy Kurt Salmon. And the tide of goods flowing back to retailers is rising. Shipper United Parcel Service Inc. expects returns to jump 15% this season from last year, making them a significant and growing cost for retailers.

It Ain’t Over Until It’s Over: Custora Tracks the Last Minute Rush

toyrus 24 hour“Toys R Us announced this week that its stores will remain open for 87 straight hours leading up to Christmas. Not to be outdone, the internet announced that it will be open all the time always forever.”

– Seth Meyers, SNL Weekend Update

When I heard that joke on this week’s Saturday Night Live episode, I laughed out loud. Then I realized how true it is. The internet has always been the place where you go shopping in your pajamas at 3 am. Sure, you could go to the 24 hour CVS but they don’t have the depth of selection.

Not only is the internet always open but it’s retailers are delivering goods faster than ever. From overnight deliveries to 1 hour local service, to instant downloads.