Results 1 to 15 of 15
  1. #1
    Yup, Sure ... now let me check ... Cagles Mill's Avatar
    Join Date
    January 18th, 2005
    Location
    The Midwest
    Posts
    646
    Since everyone on this board is involved in making money off the internet, I thought the following story would be of interest.

    I am a store manager for one of the major brick and mortar retailers. Yes, the company has a well developed web site and you see their ads all over TV.

    In June our CEO gave a presentation during which he shrugged off the dotcom industry saying that the stock market bust of a couple years ago proved that all the hype about the dotcom industry had been wrong and that in fact the internet retailers could not compete with traditional brick and mortar retailers. This all coming from a CEO who 6 months prior to the bursting of the stock market bubble was trying to convince everyone that our company should be properly viewed as an internet company.

    I am hesitant to say who this company is, but as things stand now I plan on giving my notice on August 23rd and semi-retire to earning a living off these dotcom commissions. I could also add that for the past several months I have been earning 3 times off the net what I make working 60 hours a week for my traditional retailer. Incidently, you might notice my planned exit date coincides with the day following CJ's monthly direct deposit into my checking account.

    Sooooo.... what does everyone think?
    1. Was he just plain lying to us because he was afraid to tell us the truth or
    2. are we all only imagining that we are getting sales on the internet or
    3. Is my company and perhaps other traditional retailers totally out of touch with reality?

    "The crowd has no hands." - Soren Kierkegaard

  2. #2
    ABW Ambassador
    Join Date
    January 18th, 2005
    Location
    Reno, NV
    Posts
    856
    Your CEO is certainly out of touch with reality. Online sales are one of the few growth areas in retail sales right now.

    That pretty much sums everything up.

    Plus, you have the evidence for yourself. If you're making more from online sales than at your job, that's a pretty strong statement about the state of affairs of online selling.

    And online sales will only be increasing, too, in the future.

    Jim

  3. #3
    Full Member
    Join Date
    January 18th, 2005
    Posts
    417
    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> 3. Is my company and perhaps other traditional retailers totally out of touch with reality? <HR></BLOCKQUOTE>

    That's the one.

  4. #4
    ABW Ambassador DesignerWiz's Avatar
    Join Date
    January 18th, 2005
    Location
    U.S.A
    Posts
    2,777
    Hello Cagles Mill, Welcome to the ABW forum board. I believe your latest direct deposit from CJ is a good indication of your answer to your CEO's commentary. If not .. let me emphasise my opinion ...he's extremely out of touch with reality!

    Ray Thomas
    DesignerWiz.com CEO
    Development Resource & Javascript Public Archive Center
    http://DesignerWiz.com

  5. #5
    Newbie
    Join Date
    January 18th, 2005
    Posts
    1
    I think there is a difference in paradigms. Your CEO is thinking of e-commerce on a grand scale, perhaps as to compete with Amazon, Buy.com, and others.

    Sounds like you are earning affiliate income. That's not what your CEO was talking about.

    Try building a retail business that competes with Amazon.com, and moves hundreds of millions of dollars of merchandise each year, and then tell me if you are making profits. That's what your CEO was talking about.

    Amazon.com, as big as it is, only recently has been making profits, after several years of bleeding cash. Most of the e-tailers have not made any profits, or have folded up after heavy losses.

    That's not to say that e-commerce cannot succeed, it perhaps is still ahead of its time. I think it's going to take another 20 years until e-commerce has totally changed our way of life.

    Take a look at all the places where you buy stuff, and figure out how many dollars was spent online. Myself, I probably spend only 1% of my money online.

    When the whole country is spending 50% of their retail dollars online, then you can say your CEO is out of touch with reality.

  6. #6
    ABW Veteran jc101's Avatar
    Join Date
    January 18th, 2005
    Location
    Santa Cruz, CA
    Posts
    4,597
    I have to disagree with your ceo. as internet retail is about to hit the shocking $58.2 billion in business-to-consumer (B2C) retail revenue at http://abw.infopop.cc/6/ubb.x?a=tpc&...9&m=3416024643 who wants to split that $58.2 billion, LOL. that's larger then a lot of those brick and mortar retailers pulling in that kind of money Affiliate marketing has been around for 7 years or so. Lets devide $58 by 7, that's 8 billion dollars on average each year. that's Walmart,Safeway, and other retails combined. So I don't want to hear that "Dot Coms can't compete with traditional retailers" as there are more online users then retail customers online. Besides theres lower prices on the internet then those so called offline retails!

    _________________________
    Why am I doing this? when I could be wasting 40 years working for someone else?

  7. #7
    ABW Veteran Student Heyder's Avatar
    Join Date
    January 18th, 2005
    Posts
    5,482
    Large retailers are doing very well on the internet with little investment compared to brick and mortar stores. GenSuck's analysis is yesterdays news. The internet is seeing huge growth even during this downed economy (a true testing ground). The fly-by-night companies with their CEO morons that went bust two years ago did so because they new nothing about this new economic frontier. If they had played their cards right they would have made money.

    The fact that Amazon has now finally made a profit is proof that the internet economy is taking off. Companies like Overstock.com also show this growth and there are many more that could be mentioned.

    To summarize my opinion of your CEO I would classify him as a liar saying what sounds good at the moment.

  8. #8
    ABW Veteran Student Heyder's Avatar
    Join Date
    January 18th, 2005
    Posts
    5,482
    Jason that 58 billion dollars was a projection for the year 2003 alone not the sum of seven years.

  9. #9
    Full Member
    Join Date
    January 18th, 2005
    Posts
    417
    I think that figure is the projected US annual online spend

  10. #10
    ABW Veteran jc101's Avatar
    Join Date
    January 18th, 2005
    Location
    Santa Cruz, CA
    Posts
    4,597
    Wow... My mistake that means it's more then that in a 7 year period?

    _________________________
    Why am I doing this? when I could be wasting 40 years working for someone else?

  11. #11
    Affiliate Manager frankodelic's Avatar
    Join Date
    January 18th, 2005
    Posts
    867
    CEO's... ha. CEO's have a habit of making boobs out of themselves. Right around the time of the dot com bust I was working for a pure play dot com. The CEO repetedly spouted off about the Internet as a "land grab" and referred to the "new economy" on a regular basis.

    Frank
    CEO
    UrbanScooters.com

  12. #12
    Full Member
    Join Date
    January 18th, 2005
    Posts
    346
    Just to get some perspective:

    "The Census Bureau of the Department of Commerce announced today that the estimate of U.S. retail e-commerce sales for the first quarter of 2003, not adjusted for seasonal, holiday, and trading-day differences, was $11.921 billion, an increase of 25.9 percent (±4.6%) from the first quarter of 2002. Total retail sales for the first quarter of 2003 were estimated at $772.2 billion"

    Online makes up less than 2% of the total. It's got a long way to go to catch up on a direct transaction basis.

    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Lets devide $58 by 7, that's 8 billion dollars on average each year. that's Walmart,Safeway, and other retails combined<HR></BLOCKQUOTE>

    Walmart alone does over $200 billion a year in sales, though some of that's from overseas.

  13. #13
    ABW Veteran jc101's Avatar
    Join Date
    January 18th, 2005
    Location
    Santa Cruz, CA
    Posts
    4,597
    oops. Anyway It's like everyone got scared when the dot com busts, wierd I have been doing this for seven years and I survived. now it's looking into the future

    _________________________
    Why am I doing this? when I could be wasting 40 years working for someone else?

  14. #14
    ABW Ambassador Jane's Avatar
    Join Date
    January 18th, 2005
    Posts
    1,350
    The big guys failed on the Internet because they spent too much money on advertising at a time when many people were scared to death to even use a credit card on the net. They failed to realize the Internet is totally different medium. The traditional in your face advertising doesn't work here. The wonderful thing about their failure is that it creates more opportunities for the little guy. Where else can you go start a business for $100.00 and make more than with your current job? Let them sit in their stores and think the Internet is a waste of money.. that is more money for us!

  15. #15
    ABW Veteran jc101's Avatar
    Join Date
    January 18th, 2005
    Location
    Santa Cruz, CA
    Posts
    4,597
    I agree with that jane, put in $100 and make $200 right now. I used to put in $60 a month and make $1000 plus a month before the dot coms crashed. But My sales are starting to increase right now, which is a good sign. I used to do in your face advertising but I know the difference now. Whole new ball game here now.

    _________________________
    Why am I doing this? when I could be wasting 40 years working for someone else?

  16. Newsletter Signup

+ Reply to Thread

Similar Threads

  1. How to compete with a Distributor.
    By kidcanlearn in forum Midnight Cafe'
    Replies: 3
    Last Post: July 20th, 2012, 10:28 AM
  2. Anyone want to compete? I want to compete
    By marc100 in forum Midnight Cafe'
    Replies: 29
    Last Post: March 25th, 2008, 12:21 PM
  3. A couple of .coms for sale....
    By Thomas A. Rice in forum Domains & Hosting
    Replies: 0
    Last Post: March 1st, 2008, 12:27 PM
  4. Replies: 0
    Last Post: April 17th, 2006, 06:41 PM
  5. No compete clause
    By Steveinid in forum Midnight Cafe'
    Replies: 5
    Last Post: May 19th, 2003, 12:22 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •