Shop.org Summit 2009: Ten highlights Twitter style
by Amy LaniganMonday, September 28th, 2009
We’ve just returned from Shop.org’s Annual Summit in Las Vegas. Most of what happened in Vegas shouldn’t stay in Vegas. It’s well worth sharing. Ten highlights in 140 characters or less…
1. If you’re getting bad reviews on a product you probably shouldn’t be selling it. [Session: Terry Lundgren, CEO, Macy's]
2. Starbucks is the McDonald’s of the middle class. And McDonald’s is owning this by competing up. Their take? 4 bucks for coffee is dumb. [Session: Sucharita Mulpuru, Forrester]
3. Everyone else is in = why 50% of retailers are in social media. 34% see a + biz impact. Note: This is social bc it’s worth talking about. [Session: Sucharita Mulpuru, Forrester]
4. Walking through the Expo Hall wearing a non-retailer pass is like walking into a singles bar wearing a denim vest and waving a red flag.
5. How does Cash For Clunkers impact your biz? With thrift = pride how do we provide a marketplace to monetize? Trading up meet trading down.
6. Up = Private label product sales 40%, coupon redemption 198%, teeth whitener 28%, sleep aids 22%. Sleep aided shiny smiles meet value seekers. [Session: Ellen Davis, Drugstore.com CEO]
7. woot!: The product sells itself so have fun. “We want Wiis” to sell Playstations. Product sold out in 16 min. Part Onion, part HSN. Sweet. [Session: Matt Rutledge, CEO, woot!]
8. Gilt: Invite only and a twist on luxury “liquidation” = VIP access to high fashion finds. In 2 years revenue = $150M. Genius. [Session: Susan Lyne, CEO, The Gilt Groupe]
9. Scared about social media? Not likely. You’re probably scared about your products or your company. When all else fails just ask. [Session: Twitter & Social Media All-Stars]
10. Moms and teens need to shop together but don’t want to. Our challenge: How can tech help? (And yes teens now get paid to do digital chores) [Session: Kelly Mooney, President/CEO, Resource Interactive]
Cheers (and very nice to meet you all),
Amy
