“Retail guys are going to go out of business and ecommerce will become the place everyone buys. You are not going to have a choice,” Andreessen says. “We’re still pre-death of retail, and we’re already seeing a huge wave of growth. We view this as a long term opportunity…Retail chains are a fundamentally implausible economic structure if there’s a viable alternative,” he says. “You combine the fixed cost of real estate with inventory, and it puts every retailer in a highly leveraged position. Few can survive a decline of 20 to 30 percent in revenues. It just doesn’t make any sense for all this stuff to sit on shelves. There is fundamentally a better model.”—Andreessen predicts the death of traditional retail. Yes: Absolute death (via jonathanmarcus)
We just smashed all previous mobile shopping days this Christmas. A whopping 56% of all of Fab’s revenue in the U.S. was via our mobile apps on Christmas in the U.S. — a new single day record. And, 40% of our European revenue was on mobile that day, also a record.
I had predicted previously that someday before then end of 2012 Fab would have a full day where mobile was more than 50% of our overall revenue. We’re there.
Smile, you’re designed to.
Jason’s numbers (combined with our own internal tablet data) paint a picture of a very merry holiday season for savvy retailers. It looks like 2013 is going to be the year that being touch-ready really starts to move the needle.
We thought it’d be fun if we did the same thing to see how our results stacked up. While we’re a different type of company, focusing on developing tablet commerce solutions, and the data we have spans over a thousand different merchants, our findings were actually very similar to Fab’s.
Our biggest days are Saturday, Friday, Sunday (in that order)
Tablet shopping has three distinct daily peaks.
For many the tablet has replaced a morning routine of checking the newspaper and we see this reflected in our morning spike.
Evening shoppers ramp up quickly after dinner and stay strong throughout the evening all the way until bedtime.
* Times are in Pacific time and include data from all three US timezones [unfortunately due to the limits of GA]
“I invented nothing new. I simply assembled the discoveries of other men behind whom were centuries of work. Had I worked fifty or ten or even five years before, I would have failed. So it is with every new thing. Progress happens when all the factors that make for it are ready and then it is inevitable. To teach that a comparatively few men are responsible for the greatest forward steps of mankind is the worst sort of nonsense.”—Henry Ford, Everything is a Remix, the ideas episode (via apeckham)
It has been awesome, flattering, and humbling to see that post went viral and has been seen by so many thousands of people — mainly aspiring entrepreneurs — and has been translated into many languages.
This past week while I was in Tokyo for meetings with potential partners for Fab, I was invited to participate in a panel discussion on startups. The discussion quickly turned to those 57 things. Amazing. Thousands of miles away and two years later, people still want to talk about those 57 things!
As the questions came in, I realized that my 2010 list was great for what I had learned as of 2 years ago, but it also was in desperate need of an update to include what I’ve learned more recently, especially as we’ve pivoted from fabulis to Fab in 2011 and then scaled Fab to more than 7.5 million registered users, 7500 supplier partners, 600 team members, and a run-rate of more than $150M in sales in just 15 months.