Black Friday and Cyber Monday are a cultural phenom. One that American and (in the past few years) hard-boiled Canadian consumers look forward to each year. They brave the crowds, set out a savings mission plan and shop like a thrifty gladiator entering the battle arena of value.
WHEN IT COMES TO BLACK FRIDAY/CYBER MONDAY…
While images of people camped out in Walmart parking lots regularly dominates the Black Friday news cycle (as well as trampling and fights), we wanted to find out how people really intend to spend these consumer holidays-and more importantly, how much they intend to spend. We also looked at Holiday Gift searches from the last few years on our sister site-interestingly, there’s apparently a big market for discontinued perfumes.
SOME INTERESTING FACTS FROM THE STUDY
* Men are much more open to violence on Black Friday/ Cyber Monday: One out of 10 guys (11%) would pull something out of the hands of another shopper.
* 86% of Generation Y intends to use Black Friday and Cyber Monday discounts on items for themselves.
* Men are the most generous: 26% of guys plan to spend at least $1,000 on holiday gifts.
* Very few people are procrastinating: While 4% claim they’re already finished with their holiday shopping, 41% intends to complete it on Black Friday/Cyber Monday.
* 43% will wait up to an hour on Black Friday; 24 people said they’d willingly camp out for MULTIPLE NIGHTS.
* Bosses and co-workers are at the bottom of everyone’s shopping list: Children, understandably rule (followed by spouses/significant others).
The following info-graphic is based on responses from 6,354 online shoppers who were surveyed last year immediately after checking out. Odds are things haven’t changed much this year. Here’s more from our friends at Tada, they are awesomely obsessed with reporting on all the things that online shoppers value. For the Silo, shopzilla.com/Jarrod Barker.
The internet and its vast adoption have now had a huge impact on our shopping and consumer habits. It provides more choice than ever before when it comes to shopping around. If you’re going to get your car insured, there are many sites that directly compare providers of insurance so that you don’t have to.
There are also plenty of sites that specialise in allowing you and other consumers to leave honest reviews on products or services that are offered by businesses, no matter what country they’re in. In fact, the sole purpose of some of these websites is to help you, aid you in making informed decisions, and hold businesses to account when it comes to bad reviews to explain themselves and resolve their issues.
A lot of choice out there
And if you’re looking to make a choice between one business and another, a review can have a huge sway in eventually helping you decide which is the best one to choose. A fine example is a website called casinos.com that allows users to leave reviews on both online casinos and on the top slot games. And in the casino industry, in particular, competition is so fierce amongst some of the top brands in the industry at the moment that having positive reviews can help them gain more players, so it’s essential they provide good service and an entertaining experience.
The consequences of negative reviews
Put yourself in a typical consumer’s shoes. If you go to a review website and see a raft of bad reviews for a particular store or a particular website, this immediately throws up warning flags. If a business has thousands of reviews left and there’s the odd low rating that can be looked past, but when you notice trends or the vast majority are negative reviews, you won’t consider joining that site. It’s like the internet’s version of word of mouth, and so it’s vitally important that online casinos and businesses in other industries ensure that they have support structures in place to help consumers and online users, rather than them resorting to leaving a bad review.
How many people will look online for a review?
To put into numbers just how influential reviews are, a recent study found that 93% of customers will look at an online review before going ahead and spending money online. That is an absolutely huge majority. And so, essentially, if you have shocking reviews for your business online, on average, about 93% of your potential customers are going to be able to see these negative reviews, and this will more than likely ensure that these are lost sales where they go to one of your competitors. A lot of the top eCommerce sites such as Amazon also allow customers to leave reviews on products following their purchase directly on the site so that users don’t have to go to other sources in order to discover other peoples feedback.
A digital form of word-of-mouth
A lot of our consumer behaviour is influenced by what others think. Reviews are just the internet equivalent of a personal recommendation from a friend. You may have had it before where you’ve asked either on social media or directly to friends or family about a recommendation for a certain service, and you’ve gone ahead and chosen their recommendation due to your affiliation and pre-existing relationship with that particular person. And although you don’t know the people directly who leave reviews, there is no doubt that if there is a large quantity, it can certainly influence a purchasing decision.
Reviews of products
Although you’re looking for online reviews, they are only available on online websites. A lot of people will also share reviews in video format on places such as YouTube. This is popular amongst electronics such as smartphones and watches, and a common method is called unboxing, whereby they will show you the features of a certain product after unboxing it.
There are also a lot of blog websites where someone will blog about their experience or their personal views and opinions on a certain service, subject, or product. This is also a very popular resource for people to look at before potentially reaching a decision on whether to buy a product.
In Summary
From what we’ve discussed today, it’s abundantly clear that reviews can and do have a huge influence on our consumer culture and behavior. They help a lot in helping us make informed decisions as consumers prior to making a decision to purchase either a product or a service. There are also many resources on the internet that can help you find reviews that cover almost every single industry that you can imagine. For the Silo, Diane Hutton.
Vacationers booking holidays through Canadian websites are being charged hundreds of dollars more than overseas customers for exactly the same deals, research commissioned by cybersecurity company NordVPN reveals.
From luxury breaks and hotel stays to car hire, consumers are frequently being presented with wildly different prices depending on where they log on.
Using the American website for Hotels.com resulted in a staggering $805.55 saving for a 7-night stay, while hiring a vehicle through the Italian server resulted in a quote 25% cheaper than the Canadian site.
NordVPN’s researchers used its Virtual Private Networks (VPNs) to make it look to websites like they were not in Canada. They discovered savings across a range of well-known travel sites like Hertz,Expedia, Booking.com and Sixt, for a variety of countries, including Italy, Mexico and the US.
What is a VPN? A VPN disguises your IP address, while improving privacy and security. You select a country and NordVPN ensures that’s where websites think you are. VPN users are then able to see the differing content — and prices — shown to overseas consumers.
Using a VPN, a 7-night stay this August at The Gates Hotel South Beach in Miami, Florida, through Hotels.com revealed a $805 price difference for a family of four. The Canadian website quoted $3,086 and the American site $2,280 — less than a sixth as much. Visiting the website from Italy netted a 22% saving on a 7-night family stay at Venice’s Antony Palace Hotel in August — $376 off the Canadian price of $1,732.
For those visiting the French Riviera, an exclusive 7-night stay in Hotel Casarose in August would cost 16% less using the French version of Hotels.com website, lowering the price from $4,363 to $3,656.
Fans of the UK royal family planning to stay near Kensington Palace could save 13% by using the English Booking.com site, reducing a week’s stay in August at the Twenty Nevern Square Hotel from $4,260 to $3,715.
Going to Booking.com from a French server led to a $1073 lower price on a 7-night vacation at the Hôtel Alfred Sommier in Paris in August — bringing the cost down to $8,922. Meanwhile, using an Italian server to search the Rentalcars.com website for car hire in Rome quarter (25%) cheaper than the same company’s offer to Canada-based consumers.
Browsing for more summer hotel deals using the Mexico website of Expedia uncovered a 22% saving for a week break in Cancun at El Taj Oceanfront & Beachside Condo Hotel, leaving bookers $614 better off.
Looking at car hire deals from Hertz through the UK’s website, you could bag a 23% saving — $345 — on a 7-day hire of a Polestar at Edinburgh Airport in August, bringing the price down from $1,482 to $1,137. Using Sixt to book a rental from the Nice Airport in August, this time with Sixt brought up a 13% discount of $92 for hiring a Peugeot 208 for 7 days, making the French server price $650 versus $742.
Also, Sixt quoted a price that was 16% lower for a Jeep Grand Cherokee in Orlando, Florida via the US website for July — charging $867, a saving of $164.
Visiting Sixt from France delivered the 11% discount, with a 7-day hire of a Tesla Model Y from Paris Charles de Gaulle Airport offered for $1038, $122 less than the Canadian website’s quote of $1160.
The research was commissioned by NordVPN and conducted by an external company between March 10th and 31st, 2023. Simultaneous searches were made for identical products being sold by the same vendor using numerous country servers.
When conducting the research, there were cases when prices offered to consumers in different countries were similar. However, for illustration purposes, this article and table present the biggest differences in price.
Table: Cost of items booked through Canadian versus local websites
7 night stay in the (5 star) Hôtel Alfred Sommier, Paris, France in a two connecting double room.
August 14-21
March 30
$9,996 (inclusive of additional taxes)
$8,922.68
$1,073.32
11%
Source: NordVPN
Marijus Briedis, Chief Technology Officer at NordVPN, said: “In the internet age it’s never been easier to hunt for a vacation, and you can have all the elements — from car hire to hotel stays — arranged at the click of a mouse.
“For the unsuspecting consumer there’s a price to be paid for these advances. Online tracking used by travel websites means that they can tell what holiday we’re looking for before we do, while algorithms can adjust holiday prices to the spending power of different countries.
“Never assume you’re getting the same deal as everyone else. Your location, the number of visits you pay to a website, and how your search fits in with the school holiday schedule, can all influence the price you’re offered.
“The best way to fight back is to shop around with the same provider using a VPN and see if you can find hidden savings offered to customers overseas. As our research shows, it could save you thousands of dollars a trip.”
How to save on holiday bookings with a VPN
There’s no need to overpay for a holiday abroad. Using a VPN can save you a lot of money – and it’s easy to get started.
Make sure you choose a reliable VPN provider that takes your privacy and security seriously. Though looking for a free option may be tempting, it’s best to stay clear of free VPNs. Here’s how to save on holiday bookings with a VPN:
Get a VPN subscription. If you’re interested in NordVPN, you’ll find our subscription plans here.
Launch the app and enter your credentials to sign in.
Pick a server in a country of your choice, and connect to it.
Head to the provider websites and note down the prices.
Repeat this process with several server locations to find the best price. We also recommend clearing your browser’s cache before returning to the site so it doesn’t identify you as a returning user and impact the price you’re shown.
Even though this process might take a little longer than you’re used to, you’re likely to find some great deals to make it worthwhile. This method will work for finding cheaper flights, hotels, car rentals, and even general online shopping.
According to research by our friends at NordVPN, one of the leading cybersecurity companies, adult content, streaming, and video hosting sites have the most security and privacy threats, such as malware, intrusive ads, and trackers. Research shows that NordVPN’s Threat Protection feature, whose sole purpose is to protect people from such threats, blocked 344M trackers, 341M intrusive ads, and 506K malware infections in the month of December 2022 alone.
“The online world is challenging people in every single move they make. Want to read an article? Dozens of ads and pop-ups are ready to immediately cover your screen. Another privacy threat – malware – is lurking for you on websites and in files you are about to download. Websites you browse are also full of third-party trackers that analyze your browsing history to find out what you do online. It depends on you to stop it,” says Adrianus Warmenhoven, a cybersecurity advisor at NordVPN.
Adult content sites contain the biggest amount of malware
Malware is malicious software that seeks to damage or compromise a device or data. Malware’s scope varies from relatively harmless to extremely dangerous. Malicious software can track people’s data, steal sensitive information, or even delete it without your consent.
NordVPN research shows that adult content sites (21%), as well as cloud storage providers (14%) and entertainment sites (11%), contain the biggest amount of malware. In December, Threat Protection blocked 60.4K, 40.1K, and 30.9K domains of these categories respectively.
Among the most common types of malware are viruses, spyware, worms, trojans, adware, scareware, ransomware, and fireless malware.
Streaming media sites have the most intrusive ads
Intrusive advertising refers to pushing invasive and irrelevant ads in front of consumers. They irritate users by popping up unexpectedly, blocking the host page, opening new pages and windows, or playing video and audio at inopportune times.
As for intrusive ads, the majority of them were found on streaming (23%), adult content (16%), and online shopping (9%) sites. Threat Protection detected and blocked millions of them: 552M, 389M, and 226M respectively.
“Today, ad blockers are essential for both security because they block ads that can infect people’s devices and privacy because annoying ads rely on collecting data from web activity and violating people’s privacy. Also, if a website is loading slower than usual, you can blame intrusive ads. Free apps filled with unwanted ads could also drain your device’s battery faster,” explains Adrianus Warmenhoven.
image: variety.com
Video hosting sites have the biggest number of trackers
While many trackers are a tool for advertising and improving user experience, they may also become handy for online spies. Internet service providers (ISPs), marketing agencies, social media companies, and governments can access your online actions and breach your privacy.
NordVPN’s Threat Protection showed that video hosting sites (22%), cloud storage providers (16.31%), web email (16.25%), and information technology sites (12%) have the most trackers. Video hosting sites alone had 239 billion trackers blocked by Threat Protection in December 2022.
It’s worth adding that earlier NordVPN research showed that the average number of trackers per website is highest in Hong Kong (45.4 trackers), Singapore (33.5), the United States (23.1), and Australia (18.6).
“You can become less trackable online by declining third party cookies, because the website can sell your browsing data to third parties; using a VPN, which will hide your real IP address and location; installing a tracker blocker, which will stop your browsers from collecting information about you; and using privacy browsers, which can obfuscate your browser fingerprint, or ditching Google, which tracks a lot of data about you,” says Adrianus Warmenhoven.
Threat Protection scans your files before you download them, identifies threats, and blocks them before they can harm your device. The feature is free with every NordVPN subscription – and it allows you to go online without leaving a trace, protecting your privacy and improving your digital security.
Methodology: The statistics mentioned above were acquired by analyzing aggregated data gathered by the NordVPN’s Threat Protection service in January 2023. No identifiable user information was collected, reviewed, or otherwise involved when the research and compiled results were conducted.
Digital privacy expert explains why often accepting cookies poses cyber risks
According to new research commissioned by internet security company NordVPN, only 3.5% of Canadians never accept cookies. To make matters worse, a whopping 43% say they always accept cookies. While most HTTP cookies are safe, some can be used to track people without their consent. Even more, cookies can sometimes be spied upon or used to fake the identity of a user, to gain access to their account or use their identity to commit a crime.
“HTTP cookies are vital to the internet, but they are also a vulnerability to people’s privacy. As a necessary part of web browsing, cookies help web developers to provide more personal, convenient website visits. Because of cookies, websites remember you, your logins, shopping carts, and even more. But they can also be a treasure trove of private information for criminals to spy on,” says Daniel Markuson, a digital privacy expert at NordVPN.
What are cookies, and why are they a threat?
Also known as an HTTP cookie or browser cookie, a cookie is a piece of data that’s stored on your browser whenever you visit a website. When enabled, the website will remember your preferences and any small changes you made during your last visit.
Cookies are a normal and necessary part of the internet. Without them, you couldn’t log into a website or fill your online shopping cart. However, too many cookies can become a threat to both your security and privacy.
“People need to be aware that cookies follow you online. Even if you hide your IP address with a VPN, cookies can track what you do online and form a partial ID of who you are. Moreover, third parties can sell your cookies. Some sites earn revenue by serving third-party cookies. These aren’t functional – their purpose is to turn a profit from your data. Also, cookies are a vulnerability. With the wrong browser settings or when visiting the wrong website, cookies can introduce security vulnerabilities to your browsing experience,” says Daniel Markuson, a digital privacy expert.
68.5% of Canadians feel that their online data is used for targeted ads
Research shows that Canadians feel the consequences of collected cookies:
68.5% feel that their online data is used for targeted ads;
66% feel that it’s being sold to other companies.
Moreover, 57% and 53% respectively believe that their data is analyzed by websites for their internal use and that it’s used by social media platforms for people to find the most relevant information
“Canadians must be pretty aware of the constant pop-up requesting them to ‘Accept all cookies?’ while visiting online websites. It happens in order to comply with data privacy laws, which were designed to protect users’ personal information and force companies to state what kind of data is being collected and how it is being used,” says Daniel Markuson.
How to stop cookies from tracking you
There are plenty of tools and tips to make your online activity more private.
“First, navigate to your browser’s settings and choose to delete all the cookies stored in your browser. Most browsers also offer features to block unnecessary cookies automatically. Second, use incognito mode. While incognito mode does not equal privacy, this is exactly what it was made for — setting aside a single browsing session that won’t save cookies and your history.
On a related note concerning personal data- The Public Health Agency of Canada (PHAC) tracked 33 million Canadians via their mobile devices to “monitor lockdowns” during to coronavirus pandemic. Privacy advocates said they were concerned about the data tracking.
Finally, use a VPN. One of a VPN’s core features is to hide your IP address, which is critical if you want your online searches to stay private. You can also look at installing various types of tracker blocker programs. That means that third-party cookies won’t be able to gather data about people’s browsing habits and create a detailed profile on you.
Methodology: The survey was commissioned by NordVPN and conducted by the external company Cint on October 4-12, 2021. The survey’s target group was residents of France, the USA, Canada, Australia, Germany, Spain, the Netherlands, and Poland aged 18+ (nationally representative), and the sample was taken from national internet users. Quotas were placed on age, gender, and place of residence. 7800 people were surveyed in total, made up of 800 people from Spain and 1000 people from each of the remaining countries.
A mattress is a vital component of comfort in your home.
A poor-quality mattress can cause body aches and affect your life. It’s, therefore, crucial to purchase the right mattress from a reputable store at a reasonable price. For the best mattress sale in Toronto, you need to consider some factors to help you make the right decision. If you’re looking for a deal on your next mattress or bed set, keep reading for tips on finding the best mattress sale in Toronto and get the most significant savings with no compromise on quality.
Identify a Reputable and Reliable Mattress Store
When shopping for a mattress sale in Toronto, it’s essential to identify reliable and reputable retailers. If you have friends or family members who have recently gone through a mattress purchase, they can give you good advice about specific stores that they found reliable. Local blogs or online forums dedicated to mattress purchases can also be good resources when looking at different brands and retailers.
Once you’ve identified some potential stores, it’s time to look into their sales policies. Most reputable retailers will offer sales periodically throughout the year—especially around major holidays like Black Friday and Christmas—so knowing how long those sales last is critical to ensure you get a good deal. A good mattress store in Toronto like the Queensway Mattress will provide overall satisfaction from good customer service to quality products and after-sales services. So, look out for any complaints about delivery times, damaged goods, or unsatisfactory services before finalizing your decision.
Try Out Before You Buy
Getting out of bed and trying out a mattress is an excellent way to be sure you’re making an informed decision. You can check how it feels, whether it’s too soft or too firm, and see if you like how it looks. If you want to buy a new mattress, try one out before purchasing—you may even decide that you can get by with what you already have. Leave enough time for your test drive; going from store to store will likely take more than a few hours.
Ask about return policies: Most stores won’t accept returns once you take off mattresses from their premises. Asking these questions up front can save you time and energy later on. Therefore, if you’re looking for a mattress sale in Toronto, it’s crucial to ensure they allow you to sleep on your new mattress before deciding whether it meets your needs.
Go for The Best Quality and Comfort
You might assume that high-quality, comfortable mattresses are expensive, but that’s not always true. You can get quality mattresses from reliable stores at reasonable prices if you know how to shop around. However, you need to know your needs and requirements before shopping for a new mattress to avoid wasting money on a product that doesn’t suit your needs.
For example, if you need a mattress that can help you relieve some pressure points on your body, then you can invest in a Latex or Memory foam mattress. If you have problems with allergies, then it is better to buy a hypoallergenic mattress from a reputable store. It’s good to match your needs with quality, comfort, and economical pricing to decide what type of mattress you should purchase.
Check The Warranty
Before you finalize your deal on a mattress sale in Toronto, check to see what kind of warranty it comes with to be safe. If your mattress wears out within five years and doesn’t have a solid product warranty, you might pay a lot more than you bargained for in the first instance. It’s also worth asking about details like return policy and restocking fees: some businesses are notorious for charging steep return fees or simply refusing to accept used or damaged products.
Buying mattresses supported by the most reliable warranties will keep you from paying extra money later. Also, ask how long those warranties last; sometimes, they expire just months after purchase. Dedicated warranty periods may range between 2 and 15 years.
Take Advantage of Free Delivery and Removal
When buying a mattress, ask about free delivery and removal. If a retailer doesn’t offer such services or charges too much for them, you can probably find them elsewhere. The point of getting great deals on mattress sales is not to deal with additional hidden fees. Just be sure to factor in other costs, like transportation and set-up, when you do your comparison shopping.
For example, if one store offers free shipping, but another delivers right to your door at no extra charge, you might pay more overall by Option 1. However, some people prefer picking out their mattress; they say they can test it out before purchasing. You can also benefit from some retailers offering a mattress sale in Toronto who let customers try out mattresses at home—so check around!
Look for Economical Pricing and Flexible Payment Methods
Many of us choose to buy mattresses online since they tend to be less expensive. However, if you’re going to buy a mattress online, make sure you find one with an economical pricing structure and flexible payment options. You don’t want to spend even more money paying interest or other fees because you bought your mattress online; shop smart and get a good deal.
You can also search for reputable stores that offer mattress sales in Toronto at monthly installments and no-interest financing plans. This way, you won’t have to pay all at once but will still get to enjoy your new mattress immediately after making your purchase.
Conclusion
Those who know how to find deals on mattress sales in Toronto are doing a service to themselves, whether they choose to purchase online or offline. There are so many choices that come with different prices, but if you know where to look and what questions to ask, you can get what you need at a price that won’t break your bank. A reputable mattress store in Toronto will have all of their products clearly labeled and will be able to answer any questions you may have about their products. You need not settle for less than what you want when purchasing mattresses; do your research, ask your questions, and use these tips as a guide when looking for a deal on a mattress sale in Toronto.
Digital privacy expert explains why often accepting cookies poses cyber risks
According to new research by our friends at NordVPN– one of the world’s most advanced VPN service providers , only 3,5% of Canadians never accept cookies. To make matters worse, a whopping 43% say they always accept cookies. While most HTTP cookies are safe, some can be used to track people without their consent. Even more, cookies can sometimes be spied upon or used to fake the identity of a user, to gain access to their account or use their identity to commit a crime.
“HTTP cookies are vital to the internet, but they are also a vulnerability to people’s privacy. As a necessary part of web browsing, cookies help web developers to provide more personal, convenient website visits. Because of cookies, websites remember you, your logins, shopping carts, and even more. But they can also be a treasure trove of private information for criminals to spy on,” says Daniel Markuson, a digital privacy expert at NordVPN.
What are cookies, and why are they a threat?
Also known as an HTTP cookie or browser cookie, a cookie is a piece of data that’s stored on your browser whenever you visit a website. When enabled, the website will remember your preferences and any small changes you made during your last visit.
Cookies are a normal and necessary part of the internet. Without them, you couldn’t log into a website or fill your online shopping cart. However, too many cookies can become a threat to both your security and privacy.
“People need to be aware that cookies follow you online. Even if you hide your IP address with a VPN, cookies can track what you do online and form a partial ID of who you are. Moreover, third parties can sell your cookies. Some sites earn revenue by serving third-party cookies. These aren’t functional – their purpose is to turn a profit from your data. Also, cookies are a vulnerability. With the wrong browser settings or when visiting the wrong website, cookies can introduce security vulnerabilities to your browsing experience,” says Daniel Markuson.
68,5% of Canadians feel that their online data is used for targeted ads
NordVPN research shows that Canadians feel the consequences of collected cookies:
68,5% feel that their online data is used for targeted ads;
66% feel that it’s being sold to other companies.
Moreover, 57% and 53% respectively believe that their data is analyzed by websites for their internal use and that it’s used by social media platforms for people to find the most relevant information
“Canadians must be pretty aware of the constant pop-up requesting them to ‘Accept all cookies?’ while visiting online websites. It happens in order to comply with data privacy laws, which were designed to protect users’ personal information and force companies to state what kind of data is being collected and how it is being used,” says Daniel Markuson.
How to stop cookies from tracking you
There are plenty of tools and tips to make your online activity more private.
“First, navigate to your browser’s settings and choose to delete all the cookies stored in your browser. Most browsers also offer features to block unnecessary cookies automatically. Second, use incognito mode. While incognito mode does not equal privacy, this is exactly what it was made for — setting aside a single browsing session that won’t save cookies and your history.
Finally, use a VPN. One of a VPN’s core features is to hide your IP address, which is critical if you want your online searches to stay private. Quite recently, NordVPN launched the Threat Protection feature, which offers a tracker blocker. That means that third-party cookies won’t be able to gather data about people’s browsing habits and create a detailed profile on you. So you can use online services in privacy,” says Daniel Markuson.
Methodology: The survey was commissioned by NordVPN and conducted by the external company Cint on October 4-12, 2021. The survey’s target group was residents of France, the USA, Canada, Australia, Germany, Spain, the Netherlands, and Poland aged 18+ (nationally representative), and the sample was taken from national internet users. Quotas were placed on age, gender, and place of residence. 7800 people were surveyed in total, made up of 800 people from Spain and 1000 people from each of the remaining countries.
The luxury market was one of the most adversely affected industries during the pandemic.
Between 2020 and 2021, people were stuck in lockdown to help prevent the spread, and as a result did not have a reason to go out purchasing luxury products.
This naturally affected the sales of the luxury market, as jobs were being lost and the priority shifting from spending money to saving money. Luxury products are still desired, however getting access to brand new products was not manageable for the vast majority. This is where the business model, coined by Simon Kronenfeld came into play, which helped more individuals get access to luxury products.
If you’re wondering who Simion Kronenfeld is, he is a business expert known for his revolutionary approach of re-selling refurbished products.
His business model had a strong impact towards the luxury market. Prior to 2001, consumers were only able to gain access to new luxury products and if the products had any damages they would be returned to the company. This created a problem as the company could no longer sell these unpackaged products. Nevertheless, Simon Kronenfeld found a solution. (Kronenfeld is a man with humble beginnings, who came from Israel to Canada and started off as a dishwasher.) In 2001, Kronenfeld founded Electronic Liquidators, which not only revolutionized the electronics market, but the entire resale market, which had a tremendous impact on the luxury market.
Kronenfeld.
Simon Kronenfeld discovered that up until 2001, nobody was working on repackaging the products that were returned to a company.
Recognizing this gap in the market, Kronenfeld started his very own business focusing on this sector specifically. Simon Kronenfeld started repackaging the products that were returned to a company labeling them as refurbished products. These refurbished products were then sold at the second-tier shops, transforming these financially burdened products into a multi million dollar business in just the span of two years. This same business model was replicated by many other companies following the positive impact this model brought both on a financial level and on an environmental level. In this day and age, sustainability is everything, so this concept has become a multi million-dollar formula for businesses. In fact, most companies are now earning billions of dollars annually by repackaging the return products and selling these refurbished products.
This had a massive positive effect on the luxury market, as the luxury market was losing millions of dollars every year because of returned products.
Now, however, revenue could be generated from refurbished products, and turn a profit. There are a lot of platforms online that promote luxury resale at much more affordable costs, benefiting all parties involved, especially now during the pandemic where people are not actively buying new luxury products, opting for refurbished products seems to be the best solution since they come at more affordable prices yet still offer the practicality.
While a number of industries were negatively impacted, the refurbished market mitigated the losses in the luxury market while also offering sustainability. The refurbished market focuses on a big portion of the population in virtually any country, as in reality a tiny percentage of the population is able to indulge in these luxuries. This model gives more people access to a higher lifestyle for less, while still expanding the business market and creating more jobs as a result of this niche. These refurbished products are much more appreciated in common households and provide a good source of revenue to the sellers capitalizing on this market and offering a win-win situation. For the Silo, Michael Adams.
I swam three times a week, ran a few miles every other day and on weekends, I would bike with friends. There was not an ounce of fat in my body. But as years passed, I became too busy with work and eventually with raising a family that exercise became less important and I didn’t bother going to the gym. It came to a point when I saw myself in the mirror and hardly recognized my own body. In a span of 14 years, I gained over a hundred pounds. I realized I needed to do something about it and fast. So I browsed the best online shopping sites looking for affordable gym equipment that I could just set up at home. I can’t go to a gym because, well…… Covid duh! Plus I can only workout in the wee hours of the morning when everyone else in my home is still fast asleep.
Start Cheap
Many of my friends made the mistake of investing in equipment that cost over a thousand dollars and ended up not using them anyway. The truth of the matter is that it’s very possible to create a home gym for very little money. In doing so, you won’t be wasting money in case you find yourself not using your home gym and if you do decide to fully commit yourself to a healthy and active lifestyle then you can always upgrade your equipment and machines in the future.
The following are the most essential things you’ll need:
1. Private Space
It’s difficult to work out when you have screaming kids running around you. Ideally, pick a room with a door so that you can exercise uninterrupted.
2. Full-Length Mirror
Being able to see yourself working out is a great motivator and it’s also a good way to check your form and technique. You can buy a full-length mirror for around $20 – $30.
3. Weights
Every home gym should have a set of dumbbells. For women, start with 5, 10 and 15 lbs. Men should use heavier weights. Or you can get an adjustable dumbbell that will enable you to add or swap weights easily.
Okay some old school equip has seen it’s day but don’t dismiss all vintage gym gear!
4. Stability Ball
Old school trainers would never recommend the use of a stability ball but it’s actually very popular among fitness experts today. With a stability ball, you can improve your core strength and balance. Besides, there are many exercises you can do with this ball – body bridges, squats, crunches, hamstring curls, and others.
5. Resistance Bands
These bands are very versatile despite looking plain and simple. You can strap it to a door, bench or table to do squats, chest presses, and lat pull-downs, to name a few.
6. Cardio
You can get a skipping rope so that you can do cardio exercises in your home gym. Or you can just go outside to run, jog or walk. Cardio exercises are essential to help your body burn fat faster. For the Silo, Dimitry Karloff.
With 80% of baby boomers using the internet, it is clear that seniors are a lot more adept at using tech than we give them credit for. If you’re not convinced, just have a look at the statistics that MedAlertHelp compiled.
You will see that seniors are using the internet and smart devices a lot more regularly than most people would think. But what’s more interesting, perhaps, is the reason why they are using the internet. In this post, we will go through those reasons in more detail.
It’s Convenient
Raise your hands – who still uses an encyclopedia instead of checking the answer online? Do encyclopedias even exist anymore? Seniors are just as keen on using useful shortcuts as the rest of us.
Consider other apps that might be useful, such as internet banking, for example. In most cases, you’re not going to need to go to the bank unless you need to change your address or get a new card. Just about everything else you can do by using online banking or ATMs.
Easy Access to Information About Things That Interest Them
Most seniors cited that they enjoyed using the internet because it was an easy way to access information about things of interest. We can all relate to that. Just 20 years ago, learning something about your favorite hobby meant finding the right books or a person who could teach you.
Now, thanks to YouTube, that’s all changed. There is a wealth of information on the internet. Not all of it is great, but the support for hobbyists is nice. Want to learn how to crochet a jacket for your chicken? Google it – you will find a pattern. And, yes, there are people who crochet jackets for their chickens.
For Shopping
Online shopping and the elderly can be a match made in heaven, especially when there are mobility issues to consider. Online shopping has changed the world for a lot of us – making it possible to gain access to items that we cannot easily get otherwise.
But it can also be infinitely practical. You can shop for almost anything online, from groceries to clothing. This can be a boon for the elderly with mobility problems or issues finding transport.
For Entertainment Purposes
I have to be honest; this one was a bit of a surprise for me. Especially since I remembered growing up and being told that video games would rot my brain. However, almost half of the elderly who regularly use the net, also use it for entertainment purposes, like gaming.
Communication
The internet does provide us with a number of different ways to contact our families and keep in touch with friends. Seniors are taking advantage of services like Skype, Facebook, and other instant messaging services to keep in touch with the people who are important to them.
Conclusion
There is no doubt that the internet is a useful tool to make day to day living less complicated. We’re not counting the potential for wasting time on it here, though. But, if used correctly, the internet can save you time and a lot of stress. Is it any surprise that seniors are taking advantage of these benefits? For the Silo, Tarun Reddy.
This means establishing an online presence is more crucial than ever if you want to keep up with the competition, continue to expand your brand, and generate more annual revenue.
Luckily, we are here to show you how to start a successful eCommerce business, so that you can begin attracting, converting, and retaining loyal customers in no time.
1. Choose a Business Name
After deciding what you want to sell, you’ll need to choose a business name that will withstand the test of time. Make it easy to remember, relatable to your target audience, and personal – to give your business an edge against the competition.
2. Register a Domain Name and Build a Website
Typically, people aim to use their business name as their domain name. However, if that’s not possible, register a domain name that is at least compatible.
At the same time you are registering your domain name, you should be considering the platform you want to build your eCommerce site on. There are plenty of options including Shopify, which is an all-in-one solution, or other more customizable options such as WooCommerce (which is built on the WordPress CMS).
3. Find Products
You will need products to sell in your eCommerce shop. And sometimes, this can be a challenging process because startups can be expensive.
However, for those looking for an affordable way to get an eCommerce shop up and running, there is always the dropshipping method.
With dropshipping services you can find products you would like to include on your eCommerce shop and import them directly.
From there, customers purchase those products, you place an order with a third-party supplier, and they ship the item straight to your customer.
The dropshipping method is popular because it eliminates the need to stock and deliver inventory yourself.
4. Marketing & Retargeting
It is not enough to have an online presence. You need to invest some time into marketing your brand so your target audience learns you exist.
Here are some great ideas to get you started:
Create a “Coming Soon” page
Build landing pages leading site visitors down your sales funnel
Build an email list to stay in touch with customers
Publish consistent blog content to engage customers and build product interest
Utilize multiple social media platforms to interact with customers and share information
In addition, you will need to work on a concept called retargeting. This means finding ways to encourage those that visited your online shop, but didn’t buy anything¸ to come back and make a purchase after all.
According to Kissmetrics, the number one reason people abandon their shopping cart is unexpected shipping costs. Make sure to address all of the reasons people fail to finalize purchases and urge them to come back and try again.
Final Thoughts
In the end, starting an eCommerce shop is relatively easy to do. There are plenty of services and tools available to guide you through the process and make the startup process easier. As a result, you are able to focus on the important things, like getting customers to visit your shop and make purchases. For the Silo, Dimitry Karloff.
I’d like to tell you about an easy shopping hack that moves coupon clipping into the 21st Century.
Gumdrop by Goodshop is a new free browser button which automatically finds and applies the best coupons at checkout when you are shopping online at more than 30,000 retailers including Kohl’s, Toys R Us and Amazon. It takes just a few seconds to add and then you can enjoy big discounts and save precious time by not having to search for antiquated ‘print’ coupons or cut and paste promo codes!
In addition, if you select a cause, a portion of what you spend at participating stores will be donated to that cause for free.
To date, Gumdrop has saved shoppers more than $100 million USD and donated nearly $13 million USD which has gone to find homes for stray animals, build playgrounds, fund cancer research and more. For the Silo, J.J. Ramberg.
I realized I needed to do something about it and fast. So I 
In addition, if you select a cause, a portion of what you spend at participating stores will be donated to that cause for free.