“Retail was already in trouble pre-Covid. These industries are like the patient that had pre-existing conditions. The mall traffic was already down, a digital shift was already happening — this is going to accelerate it, and at the end of the day, it’s what’s in it for the customer? Is my product better? Is my digital experience innovative? That’s what will define the companies that triumph and grow from this.” Full story at Glossy.com
Tupperware will now leverage its network of direct sellers to launch exclusive brand stores, as well as make products available on e-commerce channels in India. The company began listing its products on e-commerce platforms such as Amazon and Flipkart through authorized sellers in August. This multi-channel approach comes as consumption of Tupperware products has shown a slow growth trajectory. Efforts also are being made to keep up with an evolving market that demands greater access to products. The company plans to open 30 outlets by the end of the year, with 13 stores already in various stages of completion. An additional 100 outlets are in the works to be finished by year-end. The franchise-run stores will launched in key cities, such as Delhi, Mumbai, Bengaluru, Hyderabad and Pune. It had been previously reported that the Delhi High Court had issued a judgement preventing e-commerce platforms from selling products of direct selling companies without their authorization.
Facebook influences more buying decisions than any other social media platform, according to a new survey from business site The Manifest. In fact, Consumers are more likely to buy from a brand on Facebook (52 percent), than on Instagram, Pinterest, Twitter, YouTube, Snapchat, LinkedIn and Reddit combined (48 percent). This may be due to Facebook’s standing as the largest social network, according to some digital marketing experts, especially since the platform has been around for many years now. Still, social media offers connection, whether personal or business, and that creates trust with a brand and adds value. But it doesn’t stop there. Interaction is key, and customer service is invaluable when creating customer loyalty.
As a company, you can take the Likes at face value, but respond to those that leave reviews (31 percent), mention brands on their own profile (22 percent), direct message brands (20 percent) and tweet at brands (18 percent), because they could result in loyal customers.
His thoughts on competing in the gig economy and embracing e-commerce
SSN: You’ve been with Nu Skin your entire career. What’s that been like? I’ve spent nearly 15 of my years with Nu Skin abroad. Working in so many different capacities around the world certainly gave me the perspective I need today to run the global business. I think it’s been a huge advantage to be here as long as I have. I read a Harvard Review article recently that said their research indicates that the majority of CEOs hired from outside their industry fail, not because they didn’t see the new trends coming, but because they didn’t know how to transform the organization to meet those coming trends.SSN: What do you feel are the advantages of having both a corporate perspective and a field perspective? Companies that figure out how to disrupt themselves before they get disrupted from external forces are the ones that survive. I think you have to have institutional knowledge to be able to transform a business.Founded: 1984 Executive: Ritch Wood Location: Provo, Utah 2018 Revenue: $2.68 billion Stock Symbol: NUS—NYSE Website: www.nuskin.com
