May 30, 2004

Soap Confidential: Unfolding the Drama

Drama and more drama! Soap Confidential is a new program designed to give ABC soap fans sneak preview information from their favorite characters through premium text messaging service. Fans who sign up for Soap Confidential will receive exclusive messages from ABC Daytime's most popular characters - isn't that so exciting?

Fans can sign up to receive messages from any or all three of ABC's top Daytime soap operas - "All My Children," "General Hospital" and "One Life to Live." They will receive several messages weekly from ABC Daytime's most popular characters, detailing their thoughts on unfolding events. For instance, "All My Children's" Greenlee might preview whom she'll be trying to romance next, or in the case of "General Hospital", Sonny may share his innermost fears and desires.

"Creating meaningful ways of extending ABC's soap franchise through new technologies is an important strategic priority for ABC," quips Mr. Gersh, vice president of ABC Daytime's Business Development. (Source: Hotproductnews.com)

For this initiative ABC Daytime will partner with Telenor, the first company to provide premium text messaging services in the United States. "Premium text message services have proven to be an incredibly effective method of increasing viewer loyalty by allowing them to directly communicate to characters with which they have developed an emotional attachment," said Steiner Svalesen, CEO of Telenor Mobile Interactive. Text messaging services provide a portal for developing new marketing programs and revenue streams, he adds.

Let's Get Down To Business...
TV stations can increase their viewership ratings and also maintain viewership loyalty by enhancing their viewers' experiences and truly connecting them with the TV characters. This will in turn translate to greater revenues from advertisements! And interactive, real-time services such as text messaging and sms polling are proving to be the next BIG thing for capturing the eyeballs of couch potatoes.

So if you intend to run a content provider (like MediaCorp and MediaWorks), you should provide such enhanced, premium interactive services. Besides soap operas, you might also want to open your options to include dramas and even synopsis of entertainment or variety programs. In fact, this concept can be extended to radio programs, movies, books, films.....

This cool business idea works; we're sure you can't wait to hear about the latest developments of the characters and silly things that Ross or Rachel has to say in F.R.I.E.N.D.S, right?

There's money to be made too by being the provider of these services. With hand phone prices and subscription fees on the decline, many people would certainly sign up for interactive mobile text messaging! And you can then charge them for your services and make big bucks ;-)

By @ 3:12 PM | Entertainment | Comments (0) | Article Link

Micro-Purchasing

Can you read the teenagers' mind? Five Below is certainly making big bucks doing so. Five Below is a chain of five-and-dime-type stores for teens where the glittery and right-now-cool items sell for $5 or less. The "micro-purchasing" opportunity - a new concept of making frequent, small purchases - offers thousands of trendy products for teens, as well as pre-teens and other value-minded consumers to buy, all of which are priced between $1.00 and $5.00. This is exactly what teens are looking out for!

By combining exceptional value with trend-right, quality merchandise in a vibrant shopping environment, USA-based Five Below has reinvented the traditional five-and-dime for today's younger generation, and has launched a new retail category within the specialty discount market. At Five Below, "whatever you got will buy a lot." (Source: Fivebelow.com)

Cash-strapped teens with high spending desires these days are enticed by the mix of fresh, hot, and trendy stuffs that come cheap. There is no hesitation to purchase merchandise like sporting goods, games, and jewellery, to hobbies and collectibles, novelty and "gag" items, and seasonal items when each item consists of only a small proportion of their budget.

So is this trend of "micro-purchasing" viable in Singapore then?

Young Singaporeans are value-conscious shoppers, but at the same time they are materialistic and would not hesitate to spend large sums of money on branded goods and products. This is especially true for teenagers! Teens today are image conscious and love to shop for clothes, shoes, purses and accessories. CoolBusinessIdeas.com thinks that "micro-purchasing" is a workable concept because it is in congruence with two traits of the typical Singaporean: the 'Kiasu' mentality that often drives many Singaporeans to hunt for bargains and the urge to splurge on the 'In' things that make one looks cool and fashionable.

So... by supplying really cool and trendy merchandise at really low prices, you're empowering shoppers to be able afford and purchase anything that is sold in your store! Now you know why the One.99 Shop, U-neek and Bubble Bags concept stores opened by Nanz Chong-Komo (Woman Entrepreneur of the Year 2000) was wildly successful. In her own words: "The crowd is young and their spending power is quite high. And if you want a trendy bag, for instance, you don't want to spend a bomb because fashion changes so quickly. You'll just want to buy something nice but affordable." (Source: newasiawoman.com.sg)

Let's Get Down To Business...
In the 'Kiasu' and yet trend-conscious society of Singapore, there is strong demand for cheap yet branded goods. Bargain versions of aspirational brands and products are particularly appealing to cash-strapped teens who would love to get them for a "steal". Taking advantage of this 'micro-purchasing' trend of budget-conscious consumers can definitely increase your revenue dramatically. It's not just a teens trend; adult shoppers with high purchasing powers these days are also a boon for retailers who sell fresh, trendy and value-for-money items. Cheap yet trendy is the way to go!

By @ 3:03 PM | Retail | Comments (0) | Article Link

May 30, 2004

Space-saving, Convenient Cup Dispensers

In need of the perfect solution to your cup dispensing needs? Introducing the all-new Bumble-Free cup dispensers: great for frozen, fountain and coffee cups!

Bumble-Free is the newest and economical way to dispense cups in convenience stores. This clever invention makes use of a spring force to dispense the cups from the machine, one at a time. You can choose from the 3- or 4-cups models, with or without lid and straw compartments. This durable, long lasting and interchangeable gasket system is indeed a manifestation of the latest in cup dispensing innovations. It is great for stores short on space or as an additional location of condiments for busy stores. The designs are compact and cool, which are requisites for display in any convenience store. Designed and manufactured by US-based Plastic & Products, this Bumble-Free cup dispenser is patent-pending at the moment. (Source: Plasticpm.com)

Let's Get Down To Business...
It is everyone's desire to make full use of any space available, whether it is for your office or in the supermarket or the convenience store or even your desk. You can thus borrow the idea from the Bumble-Free Cup Dispensers, and apply it to any scenario where space is limited! Wouldn't it be lovely to be able to stack your, say, magazines in a dispenser-like manner? Not only does the stacked-up feature save space, you could also be more organized too. One could choose to stack them up by dates or chronological order and this increases efficiency in searching for specific issues of magazines. It wouldn't hurt to have a cool and sleek design to increase aesthetic appeal too.

In fact, the possibilities are limitless. Such is the power of lateral thinking and creativity in product design and marketing. So what are you waiting for? Try developing a cool storage system based on the Bumble-Free Cup Dispensers' model today and who knows, it might be the next revolutionary way to store more items in less space!

By @ 2:43 PM | Technology | Comments (0) | Article Link

Supermarkets of The Future

A whole new way of shopping in supermarkets is underway in Europe. Metro AG, one of Europe's largest retailers, is revolutionizing the shopping experience by introducing cutting-edge technologies at its Future Store in Germany.

Imagine this: upon entering the supermarket, you're greeted individually - by a handy small computer, the Personal Shopping Assistant. With this device, you can easily recall your shopping list drawn from purchases made over the last few weeks. Looking for a certain product? No problem! The Assistant can show you at the touch of a button precisely where the packet of flour that you are looking for can be found. Can't recall how much some of your groceries cost per kg? Just use the intelligent scales that recognize, weigh and price fruit and vegetables automatically! Need more information about select foods and wines? Check out the interactive multimedia kiosks called Information Terminals' that provide the detailed information you need!

Done with your shopping? Find out by checking your high-tech shopping cart, integrated with a scanner and computer to allow you to tally with your own purchases. Then, pay with your Personal Shopping Assistant or just use the self check-out option - without requiring a cashier or having to queue up! (Source: Future-Store.org)

The basic technology of the Future Store is Radio Frequency Identification (RFID). For those who are not familiar with RFID, it is a tag that contains an IC chip with an antenna. Unlike bar codes, RFID tags don't require line-of-sight reading, and so one scanner can read hundreds of tags per second. Stimulated by a radio signal, the chip transmits a unique code to identify the product the tag is fixed to. The code includes not only the product's universal product code, but also gives the particular item its own unique tag. (Source: Spectrum.ieee.org)

Besides enhancing the shoppers' experience, RFID makes purchasing processes faster, more transparent and effective. Ordering, delivery and warehousing of the merchandize will be simplified. It is possible to track the transport and whereabouts of the goods across the entire supply chain. For instance, employees can recognize faster when shelves are about to run empty - hence an "out-of-stock" occurrence will be a thing of the past. For retailers, the optimized processes are leading to cost savings and increased customer satisfaction.

Let's Get Down To Business...
Such a futuristic concept of 'technologicalizing' shopping can be aptly applied to local supermarkets and stores such as NTUC Fairprice and Cold Storage. Being almost unheard of in the local scene, this revolutionary shopping experience will certainly attract much fanfare for whichever supermarket that first implements it. Also, the demands and expectations of customers in the consumer goods industry have undergone changes over the past years. Tip: develop innovative technologies that can make shopping more convenient and efficient for consumers through better service, as well as improve operational processes. Individualize and personalize the shopping experience. In the Future Store, customers make use of a service tailored even more accurately to their specific wishes. This is something you should aim for, as the customer's always king!

By @ 2:30 PM | Retail | Comments (0) | Article Link

CoolBusinessIdeas Newsletter Issue 2

CoolBusinessIdeas Newsletter Issue 2 - May 30, 2004

New Business Ideas/Opportunities Featured In This Issue:

� Low-cost, No-frills Budget Airline Cinema
You may have heard of low-cost, no-frills airlines such as Valuair and AirAsia, but what about a budget cinema? Enter easyCinema, the world's first frills-less cinema where you can watch movies for as low as 20 pence (S$ 0.62)!

� Cereal That Taste Like Cookies
Tired of having to wake up every morning to the same old breakfast cereal? Not anymore! You can now break the old routine, as Nestl� Singapore (Pte) Ltd presents you with its latest innovative offering - the Nestl� Cookie Crisp.

� Supermarkets of The Future
A whole new way of shopping in supermarkets is underway in Europe. Metro AG, one of Europe's largest retailers, is revolutionizing the shopping experience by introducing cutting-edge technologies at its Future Store in Germany.

� Space-saving, Convenient Cup Dispensers
In need of the perfect solution to your cup dispensing needs? Introducing the all-new Bumble-Free� cup dispensers: great for frozen, fountain and coffee cups!

� Micro-Purchasing
Can you read the teenagers' mind? Five Below is certainly making big bucks doing so. Five Below is a chain of five-and-dime-type stores that taps on the "micro-purchasing" trend to make big money!

� Soap Confidential: Unfolding the Drama
Drama and more drama! Soap Confidential is a new program designed to give ABC soap fans sneak preview information from their favorite characters through premium text messaging service.

By @ 2:12 PM | Newsletter | Comments (0) | Article Link

Cereal That Taste Like Cookies

Tired of having to wake up every morning to the same old breakfast cereal? Not anymore! You can now break the old routine, as Nestle Singapore (Pte) Ltd presents you with its latest innovative offering - the Nestle Cookie Crisp. The company is launching this tastier, more appealing cereal that looks and tastes like your beloved chocolate chip cookies! What's more, it is much more nutritious than cookies, being fortified with essential vitamins, minerals and calcium. Now you can enjoy the taste of chocolate and yet eat healthily with this cereal.

Targeted at children, it will give them the energy boost they need to help kick-start their day, Nestl? Singapore states. With a new mascot-Chip, a cheerful and energetic panther, the company is likely to draw many intrigued children to the new product. Chip the Panther is mad about Cookie Crisp and will do anything to get his paws on it. Follow his adventures on packs of Cookie Crisp and also on TV. Keep a look out for the brilliant promotions with great in-pack toys and watch out for the limited edition white and dark 'chocolatey' chip packs too! With such an engaging character keeping these children company, it's no wonder that Cookie Crisp is selling well.

Cookie Crisp is available in leading hypermarkets and supermarkets, mini-marts and some provision stores for S$2.95 (Source: ebizaisalink.com).

Let's Get Down To Business...

Nestle Singapore has made a sound investment in R&D to provide exciting and tastier breakfast for consumers. Reinventing good ol' cereals which twains cereal and chocolate chip cookies together is a novelty that will definitely help win over a new clientele. Innovate and reinvent to add value to your products and win over the hearts of consumers, much like the dimsum and ramen restaurants which we featured in the previous issue of this newsletter. Young Singaporeans are especially thrilled when out shopping with their parents and are often on the look out for new and exciting food.

Also, branding and product packaging help too; any easily identifiable trademark like Chip the Panther is likely to win its targeted groups of consumers over. Tailor your branding campaign according to the preferences of your target audience. So, for example, don't try to market your cereal with a cartoon-like character to consumers in their golden years!

By @ 2:05 PM | Food & Beverages | Comments (0) | Article Link

Low-cost, No-frills Budget Cinema

You may have heard of low-cost, no-frills airlines such as Valuair and AirAsia, but what about a budget cinema? Enter easyCinema, the world's first frills-less cinema where you can watch movies for as low as 20 pence (S$ 0.62)!

easyCinema is the brainchild of EasyJet founder Stelios Haji-Ioannou. Like EasyJet (yes, it's the famous budget airline), easyCinema also goes the 'no-frills, low-cost' way to attract movie-goers who are sick of spending hours queuing for over-priced tickets. It opened in June 2003 to the public at a 10-screen venue in Milton Keynes in the UK.

With easyCinema, cinema-goers have the chance to watch films at lower prices. Booking of tickets is done online or by phone; prices vary according to demand but the cheapest seats (as low as S$0.62!) go to those people who book in advance. Once you've booked your bar-coded ticket, all you've to do next is to print it out. Make your way to the screen where your movie is showing, swipe it over the infrared readers on the turnstiles, and you're on your way to enjoying the movie!

True to its low-cost, no-frills business model, easyCinema does not sell popcorn and drinks to movie-goers. For those who wish to indulge in such pleasures, they have to bring their own food along (and clean up their seats before heading home!). Trailers and ads are cut back to lower the costs of operating the cinema.

Think that you're bound to find lousy seats and poor-quality screens at the low-cost cinema? Well, think again! easyCinema features 10 auditoria with over 1,900 seats which are comfortable and fitted with beverage cup holders. All screens are equipped with Dolby Stereo, much like typical cinema screens here.

Unfortunately, Stelios is facing difficulties in convincing distributors to allow easyCinema to show blockbuster films on their first run. Why? They think that easyCinema will be a hit with existing audiences who'll be paying super-low prices for their tickets, hence jeopardizing the big bucks the distributors make on new releases. That's why easyCinema mostly screens films that are in their second run.

Still, who wouldn't love cheap movie tickets? In its first week of operation, easyCinema has achieved a 56% occupancy in an industry that averages at a 20% occupancy. For films shown during the first week of operation, easyCinema sold more than 6,000 cinema seats (Source: easycinema.com).

Let's Get Down To Business...
Low cost, no-frills airlines are making waves and disrupting the industry for a reason. Their high volume, low margin business models have proven effective in shaking up the airline industry. Companies that still insist on doing things the conventional way are indeed losing out. So what YOU can do is to apply to your own industry this approach of mercilessly cutting costs and generating volume. The possibilities are limitless: low-cost car rentals, accommodation, coach travel, sea travel, etc. We're serious! Take a look at easyCar.com, easyHotel.com, easyCar.co.uk, easyCruise.com - all owned by Stelios's easyGroup!

By @ 1:34 PM | Entertainment | Comments (3) | Article Link

May 16, 2004

CoolBusinessIdeas Newsletter Issue 1

CoolBusinessIdeas Newsletter - May 16, 2004

New Business Ideas/Opportunities Featured In This Issue:

� Look At Those Walking Ads!
A brand-new "out of home, mobile, interactive media platform" called Adwalker hits the UK! Don't be surprised to see models walking around London's streets wearing small jackets that display light LCD screens prominently to passer-bys.

� Instant Delivery - Or Almost So
Have you ever wished that the sofa you've ordered after a painstaking search in a Courts showroom can be delivered right away to your house? A furniture store almost accomplishes that - you order today, they deliver it tomorrow.

� Innovation + Style = Lots of Customers
What can you learn from a high-tech Dimsum restaurant and a super stylish Ramen eating house? How to attract lots of customers by applying innovation and style to your F&B business!

� Eat It Ripe and Right
Having to spend almost 15 minutes just to select a couple of ripe and still-in-perfect-shape pears may soon be a thing of the past. A 'smart' label that changes colour to indicate ripeness of fruit has been invented. Hooray!

� The Thing About Toys and Action Figures
How does a small online toyshop compete with the likes of Amazon.com and other e-tailers? Through a combination of clever strategies like niche specialization, community-building, and leveraging on the Net!

By @ 2:08 PM | Newsletter | Comments (0) | Article Link

The Thing About Toys and Action Figures

Quick: name me any e-tailer that comes to your mind right now. Amazon.com? You're right! With heavyweight online stores dominating the e-tailing landscape, it isn't easy at all to succeed selling online. So it's a pleasant surprise when CoolBusinessIdeas.com spotted an online toyshop that has succeeded in cyberspace.

Kidrobot (www.kidrobot.com) specializes in selling premium limited edition collectible toys called "urban vinyl action figures." They're odd but interesting figurines, like a 9-inch nightclub DeeJay with his own tiny turntable, or "Barro," a six-inch glow-in-the-dark vinyl head, or "Bounty Hunter," a 20-inch robot-like statuette (Source: ecommerce.internet.com). Designed by underground artists in Asia who blend urban street culture with hip-hop style, these toys define a unique culture with its own languageand identity.

The toys are limited edition and are produced in quantities of only 100 to 500. Hence, established toy retailers do not stock such items, allowing Kidrobot to compete in a totally different niche. Although most of its action figures are priced in the $50-60 range, it is also dedicated to collecting and selling very rare (read: very collectable) limited-edition merchandise. Quite a number cross the $200.00 mark. Big heavyweights like Toys"R"Us simply cannot sell such limited edition figurines, since such toys embody a whole culture in themselves and they'll lose their shine when commercialized just like any other merchandise.

Selling online also makes it easier for Kidrobot to encourage the growth of this nascent cultural movement. With some clever online marketing, it has managed to entice many toy collectors and shoppers to collect its interesting figurines. By paying or giving rare toys to smaller fan-based sites in exchange for ads, Kidrobot has built up a clan of like-minded websites. It also has an online gallery where photos of everything that it has ever sold are posted, much of which are limited editions. This attracts serious toy collectors who think nothing of spending hundreds of dollars on rare collectibles to its site. By having an online forum, Kidrobot inspires loyalty and facilitates the growth of a community with its very own culture.

Kidrobot is making a kill in the trendy online business. The site is so well received that it generated profits shortly after its debut!

Let's Get Down To Business...
Any toyshop would seem inconspicuous anywhere but Kidrobot has successfully set itself apart from its competitors by providing an environment for the growth of an entire culture and by deploying effective online marketing strategies.

Unless you're bent on taking on a billion-dollar corporation like Amazon.com, you should zoom in on a very specialized niche that is small yet full of potential. Retain faithful customers through community/loyalty-building initiatives. See how Kidrobot taps the Internet and becomes a global e-tailer almost instantly. Think about it: instead of making a long trip down to a shop, wouldn't it be wonderful to view and purchase what you want online from within the comfort of your own home? Lesson: sell online if you can help it!

By @ 12:54 PM | E-commerce | Comments (0) | Article Link

Eat It Ripe And Right

Having to spend almost 15 minutes just to select a couple of ripe and still-in-perfect-shape pears may soon be a thing of the past. A world-first, clever label that indicates ripeness of fruit has been developed by two New Zealand scientists and may be coming soon to supermarkets all over the world. Hooray!

Called ripeSense, this sensor label allows shoppers to select fruit ready for immediate consumption or firmer fruit suitable for eating in a few days, depending on their preferences. How does it work? The pears are placed inside plastic clamshell packages and inside each pack is an aroma-sensitive ripeSense label. As the pears ripen, they give off aroma compounds, causing the label to change colour. Red means "not yet," orange "getting closer," and yellow "perfectly juicy." (Source: Hortresearch Media Release)

Although this cool innovation is currently being tested on pears, it sure looks promising. Work is already ongoing to develop sensor labels for summerfruit, kiwifruit, avocado, melons and all those fruit that you simply love to eat.

Both consumers and retailers absolutely love ripeSense. To the consumer, ripeSense provides easy external recognition of fruit ripeness, choice and convenience (now that the consumer can select the fruit at their desired ripeness), and an improved eating experience. All it takes now with ripeSense to select fruit of a suitable ripeness is a simple observation of the colour of the sensor. Isn't that so convenient?

To the retailer, ripeSense will undoubtedly boost demands and increase sales. Before this technology was conceived, shoppers often have to squeeze and damage the fruit as they make their selection. You would give poked and prodded produce a miss, wouldn't you? That's why retailers are so excited about ripeSense: its clamshell packaging protects fruit from crushing and bruising, permitting retailers to sell tender juicy ripe fruit without wastage. Indeed, consumers who have responded in preliminary tests have overwhelmingly indicated they would buy more pears using the new labels (Source: USA Today).

Let's Get Down To Business...
In this knowledge-based economy, it is absolutely crucial to invest in R&D. Be constantly on the lookout for innovations that add value to the shopping experience of consumers. Turn your inventions into commercially viable business concepts.

Singaporeans are increasingly getting more health conscious. So, CoolBusinessIdeas.com expects consumption of fresh fruits and vegetables to rise in the future. Convenience and taste are key drivers to encourage increased consumption. Be sure to incorporate these two points in your business!

By @ 12:49 PM | Technology | Comments (1) | Article Link

Innovation + Style = Lots of Customers

2 interesting business ideas in the F&B industry were reported in the Straits Times recently:

High-tech Dimsum - Dimsum lovers can dine in a totally unique local restaurant (iDimsum: Parco Bugis Junction, #02-53) that serves piping hot dimsum on the conveyor belt. The innovative idea originated from the conveyor belt sushi. Instead of waiting for dishes to come from the kitchen or the old fashioned way - the trolleys - consumers can now choose and enjoy the dimsum they like without having to wait. This fresh and new concept has enticed many customers and tourists to patronize the restaurant. (Source: The Straits Times)

Stylish Ramen - The simple and humble Japanese noodle dish has turned into a highbrow fare in the hands of skilful and innovative chefs who serve it with special pork and organic vegetables in as many dazzling varieties as could be improvised by a chef. The cooking style is different too - in these "stylish ramen" stores such as Shiodome Ramen in Japan, innovative chefs entertain the crowd with such antics as whipping a sieve through the air in a dramatic figure of eight when straining the noodles, and splashing scalding water against a window. The waits for the restaurant's stylish (and entertaining) ramen could reach a foot-aching four hours and long queues are a norm. (Source: Associated Press)

Let's Get Down To Business...
What can you learn from these unique restaurants? Two things: innovation and style.

Just think about this: isn't it a most innovative way of dining - a wide variety of Dimsum cuisines served "rolling hot" to you on conveyor belt? If you were any typical "kaypoh" (curious) Singaporean food lover, you wouldn't mind spending more than what you usually do when dining out just to experience a totally new and innovative way of dining, right? Go the high-tech way and you could really outshine all others in the F&B industry which isn't famed for the use of cutting-edge technologies.

See how the stylish Japanese ramen restaurants repackage and reinvent both the food and dining experience to win over a new clientele. If you were a Japanese who had grown up eating standard ramen fare in dingy joints whose counters are forever crowded with chopsticks, seasonings and self-service water jugs, you would flock immediately to an upscale and high-class restaurant, wouldn't you? The point is, consumers are naturally intrigued by everyday food that is suddenly repackaged into totally new and posh dishes. If you're creative enough in terms of redesigning both the food and dining experience, customers will simply come after you and not the other way round!

By @ 12:37 PM | Food & Beverages | Comments (0) | Article Link

Instant Delivery - Or Almost So

Have you ever wished that the sofa or cupboard which you've ordered after a painstaking search in a Courts showroom can be delivered right away to your house? A furniture store almost accomplishes that - you order today, they deliver it tomorrow.

"Buy today...we'll deliver TONIGHT!" - ambitious promise from Mealey's Furniture (mealeysfurniture.com), but they have managed to make it their business. Typically, the furniture industry has to keep customers waiting for two or three days, sometimes even weeks, before they can deliver their orders to their living rooms. Mealey's Furniture, based in USA, differentiate themselves from competitors by promising same-day delivery on almost everything displayed in their showrooms to locations within 25 miles of their stores.

Sceptical? Anyone working in the furniture and logistics industries would naturally be, given the extraordinary operational complications. Here is the secret behind their remarkable logistical feat:

Plan ahead. In Mealey's Furniture's case, it takes between eight to sixteen weeks before supplies from manufacturers arrive, so the company estimates the sales rate of their furniture goods after two to four months from now and stock the necessary numbers in their large warehouse.

Track sales and inventory levels. Mealey's Furniture does this intensively with an arsenal of advanced computer programs and responds to changes in sales and inventory levels by adjusting reorder levels when they next order from suppliers.

The all-important part next: distributing the furniture once a sale is confirmed. Almost instantly, a copy of the order is sent to their distribution centers from their showrooms when a customer happily flashes the credit card. Then, the employees get into full swing. Assembly of the furniture starts, taking an hour or so, before it awaits the next truck to take it away. If that piece of furniture happens to be the only one awaiting delivery at that moment, it is placed on hold until more arrive. Once everything is ready, the truck gets rolling on the roads, the furniture is delivered, and the customer is satisfied at the end of another long day.

Admittedly, same-day delivery of furniture is challenging, but it has succeeded in setting Mealey's Furniture apart in the industry. And oh, Mealey's Furniture's growth has soared from $23.1 million in revenue in 2000 to $30.8 million last year. (Source: Bizjournals.com)

Let's Get Down To Business...
Can local furniture stores replicate Mealey's Furniture's success? As they say in Economics, where there's demand, there's supply. You would love to be able to try out your brand-new sofa immediately in the comfort of your living room, wouldn't you? It's not uncommon to find proud home-owners in Singapore who will search for months just to get that perfect piece of furniture, and when they finally find what they want, they want it immediately. That's where you come in!

By @ 12:32 PM | Retail | Comments (0) | Article Link

Look At Those Walking Ads!

Don't be surprised to see models walking around London's streets wearing small jackets that display light LCD screens prominently to understandably amused passer-bys. This brand-new "out of home, mobile, interactive media platform" called Adwalker is but the latest advertising idea to hit the United Kingdom.

The Adwalker, designed and created by a young Irish firm of the same name, combines the strengths of the latest advertising breakthroughs as well as traditional forms of the media, thus offering consumers an all-in-one solution to their promotion needs. Hey, if you can make use of the visual impact of TV and conventional outdoor advertisements, the engaging power of consumer interaction, the higher-than-average success rates of direct marketing, and the widespread accessibility of the Internet, you'll have a winning technique to market your products and your brand!

How does the Adwalker works? It utilizes a LCD screen that is connected to the Internet, and this makes it possible to deliver dynamic sales messages in any location and to any group of consumers. This ensures highly relevant and targeted advertising to the target audience of Adwalker's advertisers. Also, a small printer in the device can instantly print tickets or vouchers for the products being advertised. With such cool features, Adwalker can be used to deliver a wide suite of applications and services. Here are just some examples:

� Point-of-Sale: credit card and smart card transactions can be carried out via Adwalker anywhere.
� Interactive games and competitions: customised games can be played by the consumer on the Adwalker.
� Consumer data collection: consumer data can be easily captured on the platform and uploaded to a database for analysis.
� Information services: real-time information updates can be downloaded via the Internet.
� Multimedia messaging: SMS and MMS are supported by the Adwalker, allowing mobile phone interaction between it and consumers. (Source: Adwalker.com)

This cool concept has been licensed to outdoor advertising firm Poster Publicity, who serve clients like British Airways, Levi's and Visa. (Source: Thisismoney.com)

Let's Get Down To Business...
Don't be afraid to try out new ways of interacting with your target consumer group. Yes, the crazy idea you have may not work, but who knows, you can just succeed simply because consumers notice your innovative and original way of reaching out to them!
Think interaction; traditional advertising media are limited to the delivering of your sales message to your consumers, nothing more. Only dynamic new forms of media can engage and interact with consumers effectively. Only active interaction allows for the tactical placements of ads for high impact targeting of key consumer groups.

By @ 11:55 AM | Advertising | Comments (3) | Article Link

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