Eye-on-Retail Tipsheet 11/30/12: Amazon’s Bezos speaks, Target gears up in Canada, Kroger Q3 Sales Up
“Amazon CEO Bezos: AWS is lean manufacturing, Kindle Fire for IT” by Larry Dignan for Between the Lines. “Bezosisms”:
Innovation isn’t always fun. “You also have to have a willingness to fail and be misunderstood for a while,” Bezos said. “If you never want to be criticized, for heaven’s sake, don’t do anything that’s new.”
A 10,000-year clock. Bezos wants a 10,000-year clock developed to symbolize long-term thinking. It should be carved in the side of a mountain and have five anniversary chambers, Bezos said. The fifth one goes off at the 10,000-year mark.
Advice to entrepreneurs. Never ride the hot thing, Bezos said. “You have to wait for the wave and make sure it’s something you’re passionate about,” he said. “Missionaries create better products, and I’d take a missionary over a mercenary any day.”
“Kroger posts higher 3rd-quarter profit, raises forecast” at Reuters. “”We still believe that over time, more conventional retailers like Kroger, Safeway and Supervalu will lose share of food sales” to retailers ranging from big-box discounters to dollar stores, J.P. Morgan analyst Ken Goldman said in a client note.” https://www.reuters.com/article/2012/11/29/us-kroger-results-idUSBRE8AS0PS20121129
“Dollar stores spruce up image, add name brands, but value is less clear cut” at Associated Press via Washington Post. “Since the start of the downturn, major chains such as Dollar General Corp. and Family Dollar Stores Inc. have accelerated their growth by transforming stores with wider aisles, better lighting and more name brands. The result is that they’re shedding their image as depots for misfit merchandise and pulling in a wider range of shoppers.” https://www.washingtonpost.com/business/dollar-stores-spruce-up-image-add-name-brands-but-value-is-less-clear-cut/2012/11/29/f77cfb44-3a4b-11e2-9258-ac7c78d5c680_story.html
“Amazon More Popular Than Walmart Among Wealthier Americans” by Jack Neff in Advertising Age. “What separates Walmart America from Amazon America? Apparently, a household income of $75,000. Walmart may still be shopped by more Americans than any other retailer, but it’s lost the top spot among households with incomes of $75,000 or more to Amazon and even has slipped behind Target among that group, according to a new survey by Shullman Research Center.” https://adage.com/article/news/amazon-popular-walmart-wealthier-shoppers/238532/
“Joe Biden’s Costco Adventure ” at The Washington Post (Pictures). https://www.washingtonpost.com/politics/joe-biden-shops-at-costco/2012/11/29/c5b629e8-3a49-11e2-a263-f0ebffed2f15_gallery.html
“Target Launches Cross-Country Marketing Initiative in Canada” by Christa Meland in Twin Cities Business. “Target Corporation’s first Canada stores aren’t slated to open until March, but the retailer has already launched a cross-country marketing initiative to gear up for its debut. Minneapolis-based Target on Tuesday announced plans to launch a road tour across Canada. A Target-themed caravan will make stops in close to two-dozen cities across the country, and the stops coincide with various events that are open to the public. They include performances by Canadian artists, musicians, children’s performers, and comedians.” https://tcbmag.com/News/Recent-News/2012/November/Target-Launches-Cross-Country-Marketing-Initiative
Home Depot press release — “Tech the Halls: It’s Christmas Time at The Home Depot.” (with Video). Editor Warning: Jingle from first video may be stuck in your head the rest of the day…https://www.multivu.com/mnr/59255-home-depot-tech-the-halls-its-christmas-time-at-the-home-depot
“What It Looks Like Inside Amazon” at Reddit (Pictures). https://imgur.com/a/q1WIO
“Apple Store And Costco Are Among Consumer Reports’ Highest-rated Cell-phone Retailers” in Sacramento Bee. “Costco received high marks in the Consumer Reports survey for service and pricing on the cell phones it sells at special kiosks within its warehouse stores; Walmart matched Costco in offering pleasing prices. Best Buy received the highest score of any retailer for its selection of smart phones, which includes everything from high-profile smart phones to simple prepaid phones from a host of carriers.” https://www.sacbee.com/2012/11/29/5017910/apple-store-and-costco-are-among.html
Feel Good Story of the Day Featuring Home Depot’s Team Depot in Huntsville, AL…“Disabled veteran gets home makeover (courtesy of Home Depot’s Team Depot)” by Lauren Morrison at 48 News — Huntsville, AL (Video and Text). “Between new appliances, wood flooring, new paint, and fixing up the siding on the house, the total project will run about $3,500, but Haynie said that’s nothing compared to Walls’ service and sacrifice for our country. “Even though it’s large to Ricky, this is just something small the Home Depot can say thank you for everything he has done for our country,” said Haynie.” https://www.waff.com/story/20219243/disabled-veteran-gets-home-makeover
“Naughty Or Nice? Consumer Holiday Shopping Trends Revealed in 2.6+ Million Social Conversations.” Most buzzed about in-store destinations:
Of 84,966 mentions naming shopping destinations:
- Consumers point to Walmart as their top in-store shopping destination (24%), followed by Target (21%).
- Best Buy comes in third (14%). Macy’s follows closely in fourth (12%).