“Be fearful when others are greedy, and greedy when others are fearful.” — Warren Buffet
I’ve noticed that a lot of people just copy other people #MemeticTheory. It makes sense.
I strive to think for myself (don’t always do that though) but this often leads me to be going against the grain.
I have seen in cases before where people try to be different just foe the sake of being different. With that being said, I’m talking about being different bc it is the right thing to do.
When the pandemic hit, I sensed a lot of large retailers got scared. So they ‘battened down the hatches’ and went into survival mode. Very frugal, not spending money on shit.
I could be wrong - I am an armchair businessperson - but I actually think that that might have been exactly the time when they shouldn’t have tightened things up.
Hear me out: rather than counting pennies and making everyone not use paper anymore, I think many companies could have done better in bolstering their e-commerce. This would have cost serious dough but would have positioned themselves to be more successful long-term.
Right now, physical retail (at least in Canada) is hurting. And I don’t want to come across saying ‘you should open up 50 department stores!’
with that being said, I think now is perfect time for brands to do pop up shops with highly personalized experiences. Think having an associate greet you for your scheduled appointment and then take you around the store and hand select stuff for you.
I think now is the perfect time to do this bc so many ppl have been so cooped up foe months, they are actually looking for something to do.
What do you think?
Written: Nov 3, 2020 (while laying in bed before bed time)