US department stores generate more income from credit cards than retail sales.
“Credit income accounted for about 47% and 66%, respectively, of Nordstrom’s and Kohl’s operating income, according to BofA. At Macy’s, the figure was about 55% in 2022, said Citigroup.”
Roy Raymond founded Victoria’s Secret so that he wouldn’t feel uncomfortable buying lingerie for his wife.
Branson music
How could Volkswagen hope to outsell competitors with a cheap, slightly ugly German car? Flaunt your flaws, and ask consumers to ‘think small’.
The opening of a new Waitrose supposedly adds £36,000 to the value of nearby properties. But this ‘Waitrose effect’ is the result of reverse correlation: the supermarket chooses store locations that are already expensive.
Warby parker 2/3 revenue from physical
The legendary investor drafts his annual letters with his sister Bertie in mind. “She’s smart, but she’s not active in business and she doesn’t read the business pages every day… so, what would interest Bertie this year?”
Waymap is a revolutionary navigation app that works underground and in crowds, when conventional services are notoriously unreliable. It was borne out the frustration of Tom Pey, who lost his sight after falling from a roof. “We saw that there was a problem for blind people, which actually mirrored a similar problem for everybody. Google Maps and its equivalents only work outdoors for some people, some of the time, and work indoors for no one.”
Tim Martin started Wetherspoons in the 1970s, basing the name of his company on a former teacher who believed he wouldn’t amount to anything.
WH Smith, once a high street staple, is really a travel business: it generates £1.5 billion in sales from branches in airports and stations vs £452 million from those on high streets.
Chris Sheldrick, working as an event organizer, struggled to get bands and equipment to the appropriate entrances of large music venues. He knew something had to change, and so he created What3words.
The White Lotus, the hit HBO show, is driving more tourism to the Four Seasons than an ad campaign ever could. “Maui, the resort in Hawaii, experienced a 425 per cent year-on-year increase in website visits and a 386 per cent increase in availability checks during season one alone,” according to Marc Speichert, group EVP.
Wickes has looked beyond its historic tradesman audience by appealing to women. The retailer has developed a more inclusive look and feel; creating social media posts to improve DIY skills in an accessible way, and signing Girls Aloud singer Kimberley Walsh as a brand ambassador. As a result, Wickes’ female customer base is now 69% larger than it was in 2019.
Several brands, like Barry’s Bootcamp, Tesco and Arsenal F.C. now use the same ‘year in review’ concept – but none resonate as well as Spotify’s. For one, music is heavily infulenced by moods, trends and nostalgia. On the other hand, buying groceries is a functional process based on needs and cost. Tesco’s Clubcard Unwrapped only serves to remind people how much of their income is spent on (often unhealthy) food. These brands are mostly not limited by their ideas – they’re limited by their category.
Zappos no call script
