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Lambert
Apr 15, 2018

by Fluffdaddy
Fallen Rib

actionjackson posted:

As a white person, I visit GAP and J Crew sometimes but the latter almost never has sales, yeah. However GAP always has something like 40% off shirts or whatnot and I just buy a bunch at a time.

It's me, the person that buys based on sales, not price.

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BlueBlazer
Apr 1, 2010

Hand Row posted:

JCrew are running into the same thing that hosed Toys R Us, leveraged buyout from private equity. Then don’t have the money to invest when you have brand identity problems.

Also not sure if it’s completely true, but at the brand I work at J Crew is the go to example for a discounting vortex. They are desperate for sales to save the company so they do 40% deals. Now your customers won’t buy unless it’s 40. You want more customers, so you do 45 off. Now you reset the expectation and so on. And you are now getting sales with barely any margin.

I can sell clothing from the same sweatshop without the overhead of a retail outlet. I just have to call them and offer an extra 10%. You have to buy the clothes to try them on which helps my cash flow considerably. No one under 35 chooses to go out to place less bougie than Nordstrom to try anything on in person. Good luck fighting the new Era of online retailers.

Retail as a location is dieing unless you shift your locationing to distributioning.

It's what makes Sears dieing so sad. They had every opportunity given to them to save it.

Invalid Validation
Jan 13, 2008




I can’t wait till malls die off completely.

Pillowpants
Aug 5, 2006

Invalid Validation posted:

I can’t wait till malls die off completely.

I can. Unless we figure out how to make UBI work we will be hosed. Hell, even if we do we will still end up like Wall-E

Haifisch
Nov 13, 2010

Objection! I object! That was... objectionable!



Taco Defender

Lambert posted:

It's me, the person that buys based on sales, not price.
And yet that exact model is what places like Kohl's are banking on.

It even bit JC Penny in the rear end when they went for always low prices instead of constant 'sales' and coupons. People like to think they're getting a deal, even though it's not really a deal when you can almost always get it for that price.

Hand Row
May 28, 2001

BlueBlazer posted:

I can sell clothing from the same sweatshop without the overhead of a retail outlet. I just have to call them and offer an extra 10%. You have to buy the clothes to try them on which helps my cash flow considerably. No one under 35 chooses to go out to place less bougie than Nordstrom to try anything on in person. Good luck fighting the new Era of online retailers.

Retail as a location is dieing unless you shift your locationing to distributioning.

It's what makes Sears dieing so sad. They had every opportunity given to them to save it.

That pressure really isn’t there yet as you can’t compete with the mins and scale the sweatshops want that established retailers offer, although it’s definitely headed there.

Mall owners having their own debt and driving off retailers by squeezing them on rent and killing their malls is only surpassed by outlet malls in stupid poo poo. Who knew building malls in bumfuck nowhere probably wasn’t the best idea. Only ones that get foreign traffic gonna survive.

1glitch0
Sep 4, 2018

I DON'T GIVE A CRAP WHAT SHE BELIEVES THE HARRY POTTER BOOKS CHANGED MY LIFE #HUFFLEPUFF

Beastie posted:

I walked by a Barnes and Noble today that had some signage in their window that presented them as #1 in the most trusted brands.

As a former employee of 5 years and a store manager I just couldn't wrap my head around that.

I don't know what it's like to work there, or if it was #1 most trusted brands just for book sellers or in general, but if it's in general I can totally see it. It's just books. They've never delayed my flight for 12 hours, or put random charges on my internet bill, or sold me a book that exploded or caught fire and burned down my apartment. Although their dvds are outrageously priced. I can't imagine anyone has ever bought one there.

Liquid Communism
Mar 9, 2004

коммунизм хранится в яичках

Beastie posted:

That or do some sneaky poo poo where you stock book #1 and #3, but not #2. That way people will have to order #2 from you, and they'll end up buying 3 right then and there because why not?

This is a great way to lose two sales, because if someone has to wait for book 2 to be delivered, they're probably ordering 2 and 3 off Amazon so they don't have to make a trip back to the store to get 'em.

Poil
Mar 17, 2007

Yeah if I went into a store and they were missing a book of a series I wanted I would buy it somewhere else. And if it happened more often than not there would be no point in even going to that store in the first place.

QuarkJets
Sep 8, 2008

Yeah Amazon's success is due to making the process of ordering and receiving stuff as easy as possible, I don't think that a book store that deliberately makes purchasing things a hassle would stick around long

TyroneGoldstein
Mar 30, 2005

Hand Row posted:

That pressure really isn’t there yet as you can’t compete with the mins and scale the sweatshops want that established retailers offer, although it’s definitely headed there.

Mall owners having their own debt and driving off retailers by squeezing them on rent and killing their malls is only surpassed by outlet malls in stupid poo poo. Who knew building malls in bumfuck nowhere probably wasn’t the best idea. Only ones that get foreign traffic gonna survive.

Basically. The major Outlet type complexes in the NYC area (Tanger out in Riverhead and Woodbury Commons up in Orange County) both have busloads full of Chinese people from Queens going out there all the time. They're also bolstered by being located in the NYC metro statistical.

I'm weird. I like shopping for clothing in person. The Macy's near me in Yonkers is a zoo, but they have so much stock. Their Levis section can rival any actual Levis store (and I have a problem buying jeans to the extent that I think it's pathological at this point).

ToxicSlurpee
Nov 5, 2003

-=SEND HELP=-


Pillbug

QuarkJets posted:

Yeah Amazon's success is due to making the process of ordering and receiving stuff as easy as possible, I don't think that a book store that deliberately makes purchasing things a hassle would stick around long

As lovely as Amazon can be the fact that I don't have to go anywhere, put pants on, or be sober to buy things is a massive upgrade to brick and mortar stores.

Beastie
Nov 3, 2006

They used to call me tricky-kid, I lived the life they wish they did.


Liquid Communism posted:

This is a great way to lose two sales, because if someone has to wait for book 2 to be delivered, they're probably ordering 2 and 3 off Amazon so they don't have to make a trip back to the store to get 'em.

Good news. Buying books 1 and 3 qualified you for free 5 day shipping on book 2. O think it was any purchase over $25 gets free shipping.

It happened a lot and most people thought it was helpful.

Beachcomber
May 21, 2007

Another day in paradise.


Slippery Tilde

Beastie posted:

Good news. Buying books 1 and 3 qualified you for free 5 day shipping on book 2. O think it was any purchase over $25 gets free shipping.

It happened a lot and most people thought it was helpful.

Why do people buy a whole series before reading book 1?

Owlofcreamcheese
May 22, 2005
Probation
Can't post for 9 years!
Buglord

Beachcomber posted:

Why do people buy a whole series before reading book 1?

It's not like you go into every purchase with zero information. Sometimes it's a total mystery if you will like something but there is plenty of times you have a pretty good idea.

actionjackson
Jan 12, 2003

Lambert posted:

It's me, the person that buys based on sales, not price.

Do you think I just ignore the sale price itself? Ok

Lambert
Apr 15, 2018

by Fluffdaddy
Fallen Rib

actionjackson posted:

Do you think I just ignore the sale price itself? Ok

I do.

PT6A
Jan 5, 2006

Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane
more percents off == better than, duh :downs:

HootTheOwl
May 13, 2012

Hootin and shootin
I buy online so I don't have to look at myself when trying on clothes.

Big Mad Drongo
Nov 10, 2006

Overstock.com is shedding it's retail business. This is great news... for bitcoin!

The Wall Street Journal posted:

In August 2015, Overstock.com Inc. Chief Executive Patrick Byrne rented out Nasdaq Inc.’s Times Square broadcast studio for a lavish party to unveil his newest project, a blockchain-based trading system called tZero.

Three years later, tZero still hasn’t launched commercially, and it is burning through millions of dollars a month. Yet Mr. Byrne is staking his company’s future on it and more than a dozen other blockchain startups.

“I don’t care whether tZero is losing $2 million a month,” Mr. Byrne said in an interview. “We think we’ve got cold fusion on the blockchain side.”

Mr. Byrne is among blockchain’s true believers—the ardent devotees who are convinced that the technology will one day upend commerce. He is so sure that he has been planning since at least 2017 to sell Overstock’s retail business, which he launched two decades ago to sell surplus goods on the internet. He declined to name potential suitors, but expects to wrap up a deal by February.

Overstock has invested $175 million in a fully owned unit called Medici Ventures Inc. that houses tZero and a collection of startups developing new uses for blockchain technology a method of recording, sharing and securing data over public computer networks that underpins bitcoin and other cryptocurrencies.

One startup is working with the Rwandan government to develop a digital property-rights platform. Another, Voatz, ran a blockchain-based pilot with West Virginia that allowed military personnel serving overseas to cast their votes in the midterm elections through a smartphone app.

Mr. Byrne’s quest has been costly for Overstock. Medici lost $39 million through the first nine months of 2018, following a $22 million loss in 2017. (All told, Overstock lost $163.7 million through the first nine months of 2018.)

Overstock shares also have suffered. In 2017, the company’s stock traced bitcoin’s mania, rising from $15 in the summer to nearly $87 by January 2018. But investors are discovering the high risk of betting on moonshot projects. Shares are currently trading at around $17.

Mr. Byrne is the company’s single largest shareholder, with a 20.2% stake, according to FactSet. That gives him a commanding say in the company’s future.

He has a contentious history on Wall Street. Long before he jumped into bitcoin, he was involved in a yearslong battle with Overstock short sellers, investors betting that the company’s shares would fall. He filed lawsuits, claimed the short sellers were working together under the leadership of a “Sith Lord” (an evil character in the Star Wars movies), and accused journalists of conspiring with them.

With tZero, Overstock’s biggest blockchain bet, he envisions a platform that would trade assets that could be easily traced and tracked. Initially, it would trade security tokens—a combination of a bitcoin-like digital token and a traditional bond or stock. It is also developing a product called digital locate receipt, a way of tracking equities borrowed for short selling.

Trying to get all the regulatory approvals for this has taken time, and tZero has blown past several expected launch dates. The company says it will go live in the first quarter.

Still, security tokens are still more theory than reality. Mr. Byrne said tZero will have one asset available for trading when it launches: its own security token. Earlier this year, tZero closed on an offering of the tokens that raised $134 million.

He said about 60 outside parties are developing their own security tokens, with plans to list them on tZero, and 2,000 other companies have asked about possibly issuing tokens as well.

“An argument can be made that tZero has more building blocks today than ever before,” said DA Davidson analyst Tom Forte, who has a buy rating and $112 price target on the stock. But, he added, “they haven’t shown that the building blocks are engaged in meaningful short-term revenue.”

Medici continues buying stakes in other blockchain startups, including some owned by its executives. In June, it paid $3.4 million for a firm called SiteHelix, which was 62% owned by tZero CEO Saum Noursalehi, according to regulatory filings. A month later, it paid $4.5 million for a 25% stake in Bitsy, which was 25% owned by Medici’s chief operating officer, Steve Hopkins. It bought a 29% stake in Chainstone Labs, 71% owned by Medici board member Bruce Fenton, for $3.6 million in September.

Mr. Byrne said the acquisitions were arm’s-length deals reviewed by Overstock’s board. Mr. Noursalehi is one of Overstock’s seven directors.

As losses pile up in the retail and blockchain businesses, Overstock has tapped the capital markets. In addition to the tZero token sale, it sold 2.8 million Overstock shares at an average price of $33.71 in the third quarter, raising $94 million. It also raised about $150 million from warrants exercised last November and this past January.

About $30 million of the proceeds from the token sale went to pay debt tZero owed to Overstock.

Overstock in August said Hong Kong-based private-equity fund GSR Capital agreed to invest up to $270 million for up to 18% of tZero equity at a $1.5 billion valuation. That is nearly three times Overstock’s current market capitalization. The deal hasn’t yet closed. GSR didn’t respond to a request for comment.

Mr. Byrne defended the company’s spending as a route toward the payoff he envisions down the road. Even though Overstock had a string of profitable years, the e-commerce business wasn’t growing.

“Being the guy who pedals along and makes $10 to $20 million a year wasn’t sustainable,” he said. With Medici, “We have maybe several multibillion-dollar properties in there.”

Not sure if this is a collapse, per se, but e-Commerce is a growing industry while crypto is... crypto.

Raldikuk
Apr 7, 2006

I'm bad with money and I want that meatball!
Lmfao saying:

quote:

We think we’ve got cold fusion on the blockchain side.
and thinking that means a GOOD thing is loving amazing. Or maybe he is being way too honest and I'm the dummy for thinking he's the dummy

Neo Rasa
Mar 8, 2007
Everyone should play DUKE games.

:dukedog:
A SITH.......LORD.

Mr Shiny Pants
Nov 12, 2012

BrandorKP posted:

I wrote a thing for the trade thread, but I'm cross posting it here because it's relevant. It's going to take me a bit. Not sure when the next time I'll not be phone posting will be. Discendo Vox made some corrections for me but here's the original post.

https://forums.somethingawful.com/showthread.php?threadid=3862896&pagenumber=13&perpage=40#post488415260


Automation is also connected. But that may take me a while to write.

I am plowing through this thread and I just wanted to say that I really enjoy your posts. Keep it up. :)

BENGHAZI 2
Oct 13, 2007

by Cyrano4747

Beastie posted:

.

It's why their holiday campaign is literally "Please ask our expert booksellers how to buy a gift for your 10 year old nephew that you know is a reader, but you are not a reader."

I work at a comics and board games store and this goes from ten percent of my job to the entirety of my job from black Friday to mid-January every year

The MUMPSorceress
Jan 6, 2012


^SHTPSTS

Gary’s Answer

BlueBlazer posted:

I can sell clothing from the same sweatshop without the overhead of a retail outlet. I just have to call them and offer an extra 10%. You have to buy the clothes to try them on which helps my cash flow considerably. No one under 35 chooses to go out to place less bougie than Nordstrom to try anything on in person. Good luck fighting the new Era of online retailers.

Retail as a location is dieing unless you shift your locationing to distributioning.

It's what makes Sears dieing so sad. They had every opportunity given to them to save it.

The only people who think nobody tries things on in the store are people who are like 5'6 and 150 pounds. Believe it or not most body types do not fit in any random clothes and ordering online is prohibitively expensive when you know you'll have to return most of it. I would never find clothes if I didn't go to the store to try it on.

DR FRASIER KRANG
Feb 4, 2005

"Are you forgetting that just this afternoon I was punched in the face by a turtle now dead?

jit bull transpile posted:

The only people who think nobody tries things on in the store are people who are like 5'6 and 150 pounds. Believe it or not most body types do not fit in any random clothes and ordering online is prohibitively expensive when you know you'll have to return most of it. I would never find clothes if I didn't go to the store to try it on.

Are you saying that the returns cost money? Because most places provide return shippers.

The MUMPSorceress
Jan 6, 2012


^SHTPSTS

Gary’s Answer

poo poo POST MALONE posted:

Are you saying that the returns cost money? Because most places provide return shippers.

Both because of restocking fees but also most people can't afford the overhead of floating a thousand bucks to eventually get 100 bucks worth of stuff.

DR FRASIER KRANG
Feb 4, 2005

"Are you forgetting that just this afternoon I was punched in the face by a turtle now dead?
Yeah that's totally fair. It's a lot of transitive debt to carry if you're living month to month.

My experience with this is mostly my wife buying and returning things and I doubt she would put up with restocking fees (given what I know about her shopping style). I also imagine she picks and chooses where to buy based on their return policy as well.

The MUMPSorceress
Jan 6, 2012


^SHTPSTS

Gary’s Answer

poo poo POST MALONE posted:

Yeah that's totally fair. It's a lot of transitive debt to carry if you're living month to month.

My experience with this is mostly my wife buying and returning things and I doubt she would put up with restocking fees (given what I know about her shopping style). I also imagine she picks and chooses where to buy based on their return policy as well.

Yeah, for example in my case I'm 6'4 and a woman's 15 in shoes so so there's only 2 sites on the internet where I can reasonably find stuff and they have 10% restocking fees and shipping takes a couple weeks. Or I can go to the mall and hope to get lucky on a few things fitting right and being long enough.

Online is great if you have the body type clothes are templated against. If you're outside the mean in any way online shopping is a torture chamber.

Cicero
Dec 17, 2003

Jumpjet, melta, jumpjet. Repeat for ten minutes or until victory is assured.
I view it the opposite way, online it's generally easier to find things that fit me, a very skinny man, because online you can find a much wider selection. IRL I'm mostly limited to Uniqlo.

QuarkJets
Sep 8, 2008

As a dude who's a little overweight and a little above average in height I can confirm that basically every store in the world caters to me

Ratoslov
Feb 15, 2012

Now prepare yourselves! You're the guests of honor at the Greatest Kung Fu Cannibal BBQ Ever!

QuarkJets posted:

As a dude who's a little overweight and a little above average in height I can confirm that basically every store in the world caters to me

I used to be just a little more overweight and taller than you and I lived in a nightmare hellscape where the stores didn't carry my pants size because I was just a little too big but the big-and-tall stores didn't carry my pants size either because I was too small. Fortunately, I lost weight.

mandatory lesbian
Dec 18, 2012

Cicero posted:

I view it the opposite way, online it's generally easier to find things that fit me, a very skinny man, because online you can find a much wider selection. IRL I'm mostly limited to Uniqlo.

For men sizes are pretty standardized, women have way more trouble in that regard

Reynold
Feb 14, 2012

Suffer not the unclean to live.
I recently started a new job where I have to wear scrubs, which apparently come in Small, Medium, Large, etc. rather than having actual measurements. I ordered five pairs online based on the measurements of my chest and waist, as suggested by the website. Everything was one size to large, and I showed up to work looking like a doofus until I got my labcoat on. I found the local brick and mortar store for the place I ordered from and exchanged them. I wear a large t-shirt, but the large scrub shirt was HUGE. My pants size is 30/30, but the medium scrubs needed to be tied at the waist and were like 6" too long. I am now wearing SMALL scrub pants. I can't even remember the last time I wore a small in anything.

Shirt companies online are pretty poo poo about nailing the proper size as well. I ordered a women's large shirt for my gf once and it came in WAY too small. I called to get a return authorization number to send it back and exchange it and the customer service lady told me that the reason it was too small was probably because they use CHILD sizes when people ordered women's clothing from them. Like, what the goddamn gently caress? That shirt would barely fit on my cat and it's the default women's large shirt? What idiot thought that was okay? How many returns do you think this company had to process before they figured out how goddamn stupid it was to just send out children's clothing instead of actually printing adult women's shirts?

there wolf
Jan 11, 2015

by Fluffdaddy

poo poo POST MALONE posted:

The ikea near me has its own sign on the freeway exit that says "IKEA COMMERCIAL TOURIST DISTRICT" as if it's a local attraction. For all I know it is.

I did have customers once that came from the next state over to check out the IKEA.

eyebeem
Jul 18, 2013

by R. Guyovich
I buy clothes in the store but I never try things on. I can tell well enough from looking at something in person if it's going to fit and if I like the material. I'm also cheap and shop at Marshalls, which seems to be better priced than most online clothing sources.

I do buy bike clothes online, though, because in that case stuff is about 5x more expensive in a store.

Golbez
Oct 9, 2002

1 2 3!
If you want to take a shot at me get in line, line
1 2 3!
Baby, I've had all my shots and I'm fine

there wolf posted:

I did have customers once that came from the next state over to check out the IKEA.

Where we live in Iowa, we are four hours away from three Ikeas. You bet we've made day trips solely to go to them.

Hungry
Jul 14, 2006

What the gently caress is going on with eyeglasses in the USA?

My prescription changed, but I have two pairs of glasses less than a year old, so I figured I'd try to get new lenses put in the frames. Must be cheaper, right?

Wrong. Every brick-and-mortar place in the city quoted upwards of $150 just for new lenses, with some climbing to $250. Meanwhile I can go online and get exactly the same frames, brand new, with new lenses, for less than $100.

How are any of these places still in business? What on earth is going on here?

QuarkJets
Sep 8, 2008

Combination of insurance leading to higher prices across the board (as has happened for the entire medical industry) and older people not realizing that you can get good affordable glasses online

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ToxicSlurpee
Nov 5, 2003

-=SEND HELP=-


Pillbug

Hungry posted:

What the gently caress is going on with eyeglasses in the USA?

My prescription changed, but I have two pairs of glasses less than a year old, so I figured I'd try to get new lenses put in the frames. Must be cheaper, right?

Wrong. Every brick-and-mortar place in the city quoted upwards of $150 just for new lenses, with some climbing to $250. Meanwhile I can go online and get exactly the same frames, brand new, with new lenses, for less than $100.

How are any of these places still in business? What on earth is going on here?

Glasses are sold by a monopoly.

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