SUMMARY: Poor usability is a known factor in cart abandonment. The top 23 sites all gross over $1 billion per year but have a 44% worse checkout user experience. At the average abandonment rate of 68% each of these sites could be losing $3 billion, if not more.
SUMMARY: Companies want a great brand because it attracts new customers, gets current customers to spend more, and keeps customers loyal. Great brands dominate the markets they compete in but bigger ad budgets or shifting dollars to digital is not the way to grow brands.
WHY? Private equity firms are like sharks in the water. They smell blood and they look for more. In the process, they put people out of work while enriching themselves. It’s a disgrace that hurts decent, hard-working people. The relationship between private equity firms and workers is zero-sum: when they thrive, working-class communities suffer.
KEY POINTS: McKinsey has reported that 75% of consumers have switched brands since the pandemic has started. Private label sales are increasing in double digits as current brands struggle. “What we have here is a failure to communicate”.
QUICK READ: I’ve been in Facebook jail three-time and really consider it a badge of honor. I’ve cut back on my Facebook use because frankly, I believe they have way too much power and have lied to us repeatedly.
QUICK READ: TV advertising is bad, I mean really bad. Effective frequency seems to be a phrase that most marketers don’t understand and the creative execution is about as exciting as a Madonna show.
QUICK READ: Marketers get too carried away with their brands. Sure, there are some brands that people are passionate about (don’t come between me and my Haagen Dazs) but the rising sales of private labels indicate, to me, that a lot of consumers are falling out of love with brands.
QUICK READ: MBA schools are ending programs because students can’t afford them and they don’t add value in today’s business environment. Is an MBA worth it?