Market Kurly's fulfillment center in Gimpo, Gyeonggi [KURLY] Retailers are giving up dawn deliveries in favor of new business models as the market makes it almost impossible to turn a profit, hurting initial public offering (IPO) valuations of companies as the industry goes down. Dawn deliveries, or orders made as late as midnight but guaranteed to arrive by early morning the next day, took the Korean market by a storm as delivery demand surged during the Covid-19 pandemic. Kurly, operating Market Kurly, first started offering the service in Korea in 2015, and Coupang followed in 2018, becoming the two biggest players in the dawn delivery market. Other companies rushed to offer their own dawn deliveries as the market grew, with the 2.5-trillion-won ($1.7-billion) market in 2020 projected to jump to 11.9 trillion won in 2023. Although the market has potential, companies are tapping out as the business requires huge investment. Lotte On and BGF Retail’s Hello Nature stopped … [Read more...] about Retailers ditch dawn deliveries in favor of more profitable options
Share to Twitter Share to Linkedin Andy Techmanski (center) briefs a Whitefish crew on the ground in Puerto Rico. Courtesy Whitefish Though Puerto Rico canceled his controversial contract last weekend, Whitefish Energy CEO Andy Techmanski is still working to restore the island’s power — and his reputation. Just days after Hurricane Maria devastated Puerto Rico, Andy Techmanski, the CEO of Whitefish Energy, arrived and offered his assistance to the Puerto Rico Electric Power Authority (PREPA) to help repair the island’s devasted power grid. He first connected with PREPA after Hurricane Irma’s glancing blow a few weeks prior had knocked out power to parts of the island. Then Maria completed the devastation. Techmanski was ready to get to work. After two decades building power transmission systems across the U.S., U.K., Middle East and western Canada with the likes of Quanta Field Services, Techmanski launched Whitefish three years ago … [Read more...] about Is That $300 Million Puerto Rico Power Contract ‘Whitefishgate’ Or Just a Red Herring?
Share to Twitter Share to Linkedin Ukrainians in the house! Interpipe volunteers work with a team from Samaritan's Purse. (Credit: John ... [+] Everett) John Everett Out here behind the Addicks Reservoir on the west side of Houston whole neighborhoods were under three feet of water for days after Hurricane Harvey blew through. A month later there is still plenty of work to be done. Though the ground has now dried, hundreds of homes remain filled with the stench of mold spreading in drywall. I meet up with a work crew consisting mostly of Ukrainians like Alexandr Shkil, who twirls twin hammers as he smashes out bathroom tile, sending sparks flying. The woman who owns the house stands in her garage, surrounded by stacks of belongings rescued from the muddy water. Sad about what happened, happy to get help, she doesn’t want her name used; she just wants to get life back to normal for her son who has Down Syndrome. The team of Ukrainians are … [Read more...] about Billionaire Heir Leads Team From Ukraine In Hurricane Harvey Cleanup
Share to Twitter Share to Linkedin BYD, the China-headquartered EV maker backed by Warren Buffett’s Berkshire Hathaway, said on Monday sales of new energy vehicles nearly tripled in September from a year earlier to 201,259 underscoring the popularity of EVs in world’s largest auto market. The company’s sales in the first nine months of the year soared by 250% year-on-year to 1.18 million EVs, shaking off industry disruption from Covid-related lockdowns in Shanghai in the second quarter in part on the strength of its in-house battery supplies. Although not a household name globally like Tesla, BYD has stepped up overseas expansion this year with efforts in Japan and and Thailand. Smaller China EV makers NIO and Li Auto also reported year on-year sales gains in September. BYD’s overall business is more diversified than its rivals – it also makes handset components and photovoltaics. Among its customers are Dell, Apple, Xiaomi and Huawei. Warren Buffett’s … [Read more...] about Warren Buffett-Backed BYD’s EV Sales Soar To Record In September
Share to Twitter Share to Linkedin One of the biggest challenges of getting a new business off the ground is gaining traction in your target market. Building awareness requires an effective public relations strategy that can create a steady stream of positive news about your company. When you're on a small startup budget, you may not have the immediate resources necessary to hire a PR firm. Fortunately, there are some simple strategies you can employ to drum up publicity yourself. Here are 10 ways to encourage positive press for your business, as recommended by the members of Young Entrepreneur Council . 1. Encourage Reviews Few things are better for boosting publicity than word-of-mouth from real customers. The value of positive customer reviews cannot be overstated. For new businesses that may not yet have these to leverage, influencer marketing can also be a powerful tool when used correctly. Unlike hired celebrities and scripted … [Read more...] about 10 Strategies To Ramp Up Positive Publicity For Your New Business
Share to Twitter Share to Linkedin Salesforce has taken a big leap forward in solving what is one of the biggest problems facing its CRM customers: bringing together data from multiple sources – both externally and its own products - in such a way that it can be acted on very quickly. The company just released a new product called Genie and it’s being called “groundbreaking.” What it does is create a "lake" or repository of data so that a company can bring to in information from anywhere – including Slack, Service Cloud, Finance Cloud, or an outside ERP, e-commerce and point of sale system - and then tag this data in such a way that it can then leverage AI and workflows that can be used pretty much instantly. For example, a customer is irate and his complaints are entered into a service management system. That data comes into the “lake” and instantly triggers a freeze on any promotional messages that may further irritate the customer. A patient … [Read more...] about On CRM: Yes, Salesforce Really Did Just Introduce A “Groundbreaking” CRM Feature…Except For One Thing
Share to Twitter Share to Linkedin China’s financial crises is getting worse. In this latest phase, Chinese banks, anticipating huge loan losses, have taken dramatic steps to enhance their loan loss reserves, tapping China’s bond markets for some 30 percent more funds than they did last year. The banks’ problems are hardly a surprise. They are in fact just another step in the metastasizing crisis that began over a year ago when the huge property developer, Evergrande, announced that it could no longer support some $300 billion in liabilities. Back then, Beijing clearly failed to comprehend what was going to happen and refused to act promptly or completely enough to stop the spreading series of failures that has since characterized Chinese finance. These failures and the crisis generally will continue to spread until Beijing acts more decisively. What China is experiencing is a text-book illustration of how a financial crisis unfolds. Failures in one place led … [Read more...] about China Is Suffering A Major Financial Crisis