Tag: Amazon

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Black Friday Deals… This Friday!

So… most of us (in Europe) will have got used to ‘Black Friday’ sales. It’s the Day after Thanksgiving and… it’s when everyone (nearly everyone), goes out shopping.

Now… the ‘Black Friday’ Sales have spread to across the world.

And here in Europe… we have them too.

In fact… they started earlier… Amazon and many other retailers started sharing some great offers earlier in the week…

For example, Curry’s had this fantastic offer on earlier in the week…

Now… like or loath them  – the sales, do offer some great value.

Whilst we have some high-street retailers offering discounted products… you’re best bet to find a bargain would most probably be on-line.

Amazon (and there’s others) start to prepare and entice folks in…

Now, there’s some guidelines I’d suggest you follow…

1. Do your Research! – Is it a good product? Have you read the reviews? Don’t just buy it because it looks good and it’s reduced in price (even if it’s got 70% off!). Look around the internet, read what people are saying about it – and if it’s worth purchasing.

2. Sign Up! – That’s right… sign up to newsletters and emails from your favourite retailers. That way, you’ll receive notifications before others of deals and offers that are available.

3. Don’t Worry! – missed out on an item? Didn’t get what you wanted? Don’t worry… we’ve got Boxing Day sales coming up… then you’ll have New Year Sales… and if you’ve followed Points 1 and 2 above, I’m sure you’ll find your item at a good price at some point in the year.

Well, I hope you have a great time shopping…!

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Jackie, how do you like to shop?

Another week, and another High Street name closing stores. 

This week, we have New Look. In a radical revamp – upto 100 stores will close. 

Why? Like I’ve mentioned before…. our shopping habits are changing. There’s so many uncertainties. Brexit. Etc…. 

So what next, Bal?

Great question! – I see the whole High Street changing. There’ll be more closures and more well known names disappearing from the High Street. 

When it comes to clothes – we’ve traditionally gone out to shop. Because we need to touch, feel and try. 

Comparing clothing to electrical – online sales are not has great. But that’ll fast change. How?…. let’s just look to Amazon and what they’re doing.

Yep, they’re offering a ‘try before you buy’ service. 

Select a number of clothes…. sizes, colours, etc… have them sent to your home. Try them… see how they feel – like them? Keep them (and obviously pay) don’t like them? – return them free of charge. 

Simple? Off course! That’s what makes it so easy. 

Jackie, a mum of 3 boys – who’s always running around and very busy, doesn’t have time to go into shops, try various clothes…. instead, would rather be able to try the clothes on – when she wants and where she wants (on the basis she knows where the kids are – on which some occasions is a challenge on its own).

Amazon started selling clothes 10 years ago and is only recently pushing more into this space. Without doing much, they have a 4.6% market share. Just behind M&S online clothing. 

Next is in the lead, with 12.5% of market share. You also then have John Lewis, ASOS and eBay. 

So can Amazon gain more market share?

I think Yes. They’ve got the power and the ability to make it a success. We’re ordering more and more varieties from Amazon, from baked beans (yes, you can buy them) to garden furniture. Why not throw a cardigan in the basket as well.

Reminds me of the time I went to Tesco to buy some milk and bought a TV. I did that in a physical store about 6 years ago. Looks like now is the time I would buy some socks with my books from Amazon. 

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The Trillion Dollar Company Club

You must have heard, how recently Apple become a ‘trillion dollar’ company.

Yesterday, Amazon did the same. That’s right, they joined the ‘Trillion Dollar Company Club’. Not bad for a 24 year old company.

When they went public in 1997, their share price was $18. Tuesday, the share price hit $2,050. Valuing the company, just over $1 Trillion.

Wonder if Jeff would’ve ever thought, Amazon would be the second company to enter the ‘Trillion Dollar Company Club’ when he sat in his office, with a hand painted sign on the wall… selling books on-line.

It’s a brilliant success story.

Only 2 companies have achieved this phenomenal success. Only 2 companies in that club. But I’m certain, over the next few years, we’ll see more enter the club.

It comes down to a few reasons why Amazon and Apple have achieved such success – Innovation.

The ability to keep adapting.

The ability to keep growing.

The ability to keep thinking, trying and venturing into new areas.

To keep going… Business as Usual (BAU) – won’t get you into the Trillion Dollar Club. In fact, it probably won’t get you into any club.

But that’s the problem – you have to invest. You have to grow. You have to think differently.

So, Jeff… is one of the richest people in the world… but what’s the real secret? A few years ago, Jeff shared…

Customer first – we all know that.

Invent, Innovate… yep, got that.

Be Patient. Ah…. that’s something we don’t have these days. We don’t have the patience to let things grow, to understand and see how they turn out.

To keep trying… it’s easier to say – park it/bin it/stop it… if it isn’t working.

How much patience have you got to keep going? to keep learning, re-adjusting and figuring it out?

We could relate this to football. How managers of teams are sacked very quickly, if there’s a number of losses and the team performs very badly.

I remember when Alex Ferguson (the Manchester United boss) had a string of bad results and had one match to save his position. Funnily enough… he won that match and went on to be one of the most successful managers, in English Football, of all time.

I know this very well… because it was against Nottingham Forest.