Recession 2020 – 5 Ways I’m Preparing For The Downturn

My Wife Quit Her Job

In my adult life, I’ve had the misfortune of living through 2 other downturns in 2002 and 2008. In 2002, I sat there on the sidelines and watched my stock portfolio plummet to less than 50% of its original value. With the Corona virus pandemic causing mass layoffs and record unemployment, it’s clear that recession 2020 has already begun. This post will outline everything that I’m personally doing to prepare for this downturn. First off, this is my 3rd recession.

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How VIZIO Rose to Dominate the Digital Landscape

Salsify

Yet, since 2002, VIZIO has done just that—delivering high performance tech at budget prices. Nabbing market share from the likes of Sony, LG, and Samsung as the new kid on the block seems almost unfathomable. In 2006, the newbie earned an estimated $700 million in revenue. Today, sales exceed $3.5 billion. Electronics Increase Sales Volume and Revenue

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Free Slurpee Day falls victim to COVID-19

RetailWire

Held annually since 2002 on July 11 (aka 7/11), the event typically triggered the biggest traffic spike of the year for the chain. 7-Eleven announced yesterday that it has decided to cancel its annual Free Slurpee Day event due to “the uncertainties associated with the COVID-19 pandemic.” In way of consolation, 7-Eleven is issuing coupons for free medium Slurpee drinks to 7Rewards members, valid in July

Did IPG Hit A Home Run With AMS Acquisition?

Liveintent

This week, we explain how this acquisition is representative of a larger shift in the world of agencies that’s akin to 2002 Oakland Athletics – we mean beyond the sense of inevitable doom. The Interpublic Group (or IPG), the world’s fourth-largest agency company, recently agreed to acquire Acxiom’s Marketing Solutions (AMS) business for the sum of $2.3 billion.

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Kendra Scott Steps Down as CEO of Namesake Brand, Tom Nolan to Take the Reins

Retail Touch

Since founding the company in 2002, Scott has been the sole CEO, overseeing the brand’s transformation into a multi-channel retailer that now boasts more than 110 standalone stores across the U.S.,

HRC Index: 51 Retailers Named Best Places to Work for LGBTQ Equality

Retail Touch

The retail industry continues to pave the way as a leader in LGBTQ workplace equality, according to the Human Rights Campaign (HRC) Foundation’s 2021 Corporate Equality Index (CEI).

Much to gain for SAP with Bob Stutz Joining their CRM Team

Forrester's Customer Insights

Siebel was a powerhouse in its time, peaking at 45% market share in 2002. Bob Stutz and CRM have always been synonymous. Stutz started his CRM career at Siebel, in 1998, in the early days of IT-driven, on-premise CRM. Stutz’s tenure ended after it was acquired by Oracle (2005), and he moved to SAP to […]. age of the customer customer relationship management (CRM) CRM; CX

FastSpring Wins 2020 Stevie Award for Support Team of the Year

FastSpring

Created in 2002, the Stevie Awards® honor and recognize the achievements and positive contributions of organizations and working professionals worldwide. One of our core values as a company is that our success is entirely based on the success of our customers. As such, being recognized externally for our commitment to supporting our customers is an incredible honor.

Continued Convergence Of Analytics Products And Services

Forrester's Customer Insights

IBM led the trend when it acquired PwC Consulting in 2002. I’ve been watching this trend with great curiosity (and first wrote about it in 2008). On the one hand, software product vendors are slowly but surely migrating from just selling products to selling solutions — and solutions always require professional services. For the last few […]. advanced analytics analytics applications big data IT consulting

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L Brands Names New CEO of Victoria’s Secret Lingerie, Appoints Three Other Leaders

Retail Touch

Behringer has been with Victoria’s Secret since 2002, most recently as SVP of Store Operations, where she oversaw the company’s response to the COVID-19 pandemic.

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Open Workforce Models Drive Retail Innovation

Retail TouchPoints

Second only to his commitment to family — and perhaps waterskiing — Morris has served in leadership roles at Topcoder since 2002. By Michael P. Morris, Topcoder Tech skills are critical to essential retail business functions, such as warehouse management and supply chain optimization. The role of software developer is now the third most common job in retail , as well as one of the fastest growing.

Commerce Cast: How ShopJimmy.com Uses E-Commerce Automation to Fuel Growth

ChannelAdvisor

Do you remember what e-commerce was like in 2002? Travis Vosika does. Those were the days when he’d open his mailbox to find it bursting with eBay payments — back when online buyers still sent checks in the mail and sellers were painstakingly entering every last listing detail. There have been a lot of changes since then, and Travis’s business has been adapting to them for more than 16 years.

Pop-up Shop-up with Mare Weiss

GetElastic

was Target when it took over a 220-foot-long boat for a two-week campaign on the Hudson River that coincided with Black Friday in November of 2002. Boston’s nomadic institution, the Design Museum , hosted a great morning meetup with Mare Weiss on retail design and the pop-up store concept. Although most U.S. consumers may be prone to think of pop-ups as those seasonal stores such Halloween City – the notion of them are becoming more mainstream among influential brands.

Editors Share Top Takeaways From #RIC18

Retail TouchPoints

Customers who viewed this item also viewed” and “Customers who bought this item also bought” seemed helpful in 2002, but they waste too much precious time in 2018. The 2018 Retail Innovation Conference has come and gone, but not without showcasing its fair share of content and insights from some of today’s greatest industry minds. C-level execs from Walmart , 1-800-Flowers.com

Employee Spotlight: Bill Wilson, Senior Director of Product and Kite Designer

FastSpring

In about 2002, I got into more of a leadership position for satellite offices of larger companies. FastSpring’s Employee Spotlight is a Q&A series that features the hardworking, intelligent, and fun people that make FastSpring great.

Spring Cleaning Your Outdated Content

UpSellIt

May 2002). Could your old content be scaring away visitors? When we think about Spring Cleaning, most people imagine dusting shelves, clearing out closets, or everyone’s favorite: washing baseboards. However, if you’re planning on cleaning your home this spring, you may want to think about your business’s home; your website. More specifically, I’m talking about cleaning up your outdated content.

How Coronavirus Is Impacting Ecommerce

ROI Revolution

With the growth of ecommerce, coronavirus shouldn’t disrupt the economy as much as the SARS outbreak did in 2002. Published March 12, 2020. On top of health concerns, brands across the globe are worrying about how coronavirus (COVID-19) will impact ecommerce as a whole. According to consulting and research firm Technomic , 52% of consumers are avoiding crowds and 32% are leaving their house less often because of coronavirus. And the stock market has become increasingly volatile.

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Retail apocalypse? Maybe it’s time to worry about a disruptor meltdown?

Steve Dennis

That’s not quite WeWork, Uber or Lyft levels of cash incineration, but for a company that has been at this since 2002 it might be time to ask just what the heck is going on ? As much as “retail apocalypse” continues to show up in the headlines, by now most people that take the time to look at the facts know it’s nonsense. The truth is while much of retail is definitely different–in some cases radically–it’s far from dead.

What Coronavirus means for eCommerce

PFS

According to UBS Global Wealth Management Chief Economist Donovan, the fact that the market share of eCommerce is significantly higher today than it was during the last major outbreak in 2002 (SARS) could reduce the economic impact of coronavirus. As of Wednesday, the 26 th of February, the number of Coronavirus cases globally is greater than those in China alone. [1] 1] As the virus continues to spread across continents, new ramifications of the deadly outbreak are being revealed daily.

How a $1,000,000 Loss Turned into a $22,000,000 Gain

BigCommerce

After all, we started the business in 2002, directly in the aftermath of the DotCom bubble burst. In 2002, eBay was a very successful online marketplace, but we could never figure it out. I always joke with my colleagues and friends who want to start a business by telling them: You don’t really know what you’re doing until you’ve lost $1M of your own money in 1 year. In 2013, that’s exactly what happened to me and my brothers’ business, Dazadi.

Strange bedfellows? Legacy retailer and disruptive brand partnerships are on the rise.

Steve Dennis

I first came to understand the potential power of these alliances when I worked on Sears’ 2002 acquisition of Lands’ End. As the middle continues to collapse —and many well established retailers struggle to move from boring to remarkable —brands must continually seek new ways to become unique, more intensely relevant and truly memorable.

Exclusive CEO Q&A: How Swiminista Combines Sustainability With The ‘Perfect’ Swimsuit Fit

Retail Touch

But Bernholtz had co-founded the luxury denim line Rock & Republic in 2002, and helped make it a celebrity favorite offering cosmetics and accessories as well as clothing.

Why Social Media is ‘Pay to Play’ in 2021 (And How to Get the Best Bang for Your Buck)

Neil Patel

While the average cost of a 30-second TV ad slot during the Super Bowl has more than doubled since 2002 , getting in front of your audience via social ads has actually become cheaper.

Retail apocalypse? Maybe it’s time to worry about a disruptor meltdown?

Steve Dennis

That’s not quite WeWork, Uber or Lyft levels of cash incineration, but for a company that has been at this since 2002 it might be time to ask just what the heck is going on ? As much as “retail apocalypse” continues to show up in the headlines, by now most people that take the time to look at the facts know it’s nonsense. The truth is while much of retail is definitely different–in some cases radically–it’s far from dead.

Expert Q&A: Work with Amazon, or Against Amazon?

Zaius

McRitchie co-founded the web portion of the company, launching MyBinding.com in 2002. How do you both work with and compete with Amazon? It’s not an easy task. We talked about this challenge with Jeff McRitchie, the VP of Marketing at MyBinding.com , one of the largest binding and laminating dealers in the United States. The company started 20 years ago as a small business with a traditional door-to-door sales force.

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Cross-Channel Home Décor Retailing: 5 Take Away Lessons from The Game Changers

RETAIL MANAGEMENT SOFTWARE

Formerly known as CSN Stores, the company was founded in 2002.

Three Ecommerce Trends to Know for 2019

UpSellIt

In 2002, ecommerce consumers spent about $42 billion in the United States. For a brand new industry like e-retail, that figure seemed huge. Fast forward 16 years, and the numbers seem almost impossibly large. In 2018, online consumers spent over $500 billion. That’s higher than the total GDP of many countries. But in the midst of this boom, ecommerce has produced both winners and losers.

From Bookstore to Superstore: The Evolution of Amazon.com

ChannelAdvisor

2002: Amazon Web Services (AWS), a platform for developers to include features of Amazon.com into their own sites, launches. Can you believe that a little more than two decades ago, Amazon was still one man, a light bulb idea and a home garage? Circa 1994, Jeff Bezos began working on a business plan (yes, in his garage) for what would eventually become the largest internet retailer in the US. In 1995, the company made its official debut. Since then, a lot has changed.

The Empowered Marketer: Beware of Becoming an Ecommerce Commodity

Zaius

Launched in 2002, the founders got their start selling cell phone accessories out of their apartment, growing quickly alongside the emergence of smartphones. Ecommerce marketers everywhere have the same fear: that their product will become a commodity. A commodity product is low in value, easily replaced, and can only compete with a low price. Because of this, the goal of nearly every ecommerce marketer is to build a brand that is so valuable, their product can never be a commodity.

Our Top 3 Takeaways from Gartner’s Magic Quadrant Report

Sailthru

Financial services companies have had to comply with know-your-customer rules since 2002. Any marketing leader planning to re-evaluate their multichannel campaign technologies in the next year should be referring to Gartner’s 2018 Magic Quadrant for Multichannel Marketing Hubs. Out of the thousands of technologies that enable data collection, management, and message delivery across email, web, mobile, display, and other channels, few are positioned in the Magic Quadrant.

The 8 Best CRO Companies of 2020

Neil Patel

Founded in the mind-blowing 2002 they’ve helped 1500+ clients generate 1 billion dollars. Imagine this…. Your website is ranked for every keyword you can think of.

The History of Ecommerce: What The Past Says About Tomorrow’s Retail Challenges

BigCommerce

A few quick facts on how ecommerce has impacted employment: Ecommerce jobs are up 334%, adding 178,000 jobs since 2002. When it comes to ecommerce, a word that first comes to mind is growth. Ecommerce expert Gary Hoover’s research shows that just in the last 14 years, the growth of ecommerce companies has skyrocketed across the board. And some merchandise lines (like clothing and beauty products in particular) have achieved a remarkable 25% average CGR between 2000-2014.

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What to Sell in 2018: How to Find a Product Niche and Start Selling Online

BigCommerce

Founder Jeni Britton Bauer has been making ice cream professionally for decades, and founded her own brand in 2002. Online competition is fiercer than ever. This is why figuring out what to sell online is a strategy in and of itself. You’d be surprised how many people set up a store before identifying ecommerce opportunities. This is setting yourself up for failure. Choosing the right products to sell will impact every other business decision you make. Forget a pretty theme.

How a Passion for Improving Lives Abroad Helped One Couple Build a Thriving Wholesale Fair Trade Ecommerce Business

SellBrite

In 2002, the couple opened their retail shop but struggled to gain traction in the local market and drive the kind of sales and growth that they needed to survive. In 2002, Ward and Jones pursued their dream and opened their retail shop, but as mentioned, they quickly realized it wasn’t the right path. In the year 2000, Kevin Ward and Renice Jones weren’t yet living in the sleepy Florida beach town that they would one day call home.

12 Common Mistakes When Selling Across Borders

BigCommerce

The students loved it –– and in 2002, the blade launched in India. Doing something for the first time is never easy. Before emerging technologies had accelerated growth rates, it was common practice to have an apprentice/mentor relationship when experimenting or simply growing your knowledge within an industry. Today, those simple mentorship luxuries are almost extinct.

The Evolution of Google Shopping (and Introduction of Google Shopping Actions)

ChannelAdvisor

In 2002, Google launched Froogle, which was designed to be an e-commerce search comparison tool, and Froogle evolved over the next five years. Google recently announced Shopping Actions, but what are Google Shopping Actions and how does this program differ from Google Shopping? In order to understand this newest innovation from Google, you need to take a step back and look at how Google got here.

Retalon Chosen in Most Promising Retail Technology Companies

Retalon

Incorporated in 2002, Retalon’s main goal is to bring accuracy for retail businesses by predicting future market conditions. Retalon Chosen by CIO Review for CIO Top 20 Retail Tech Solutions.