Home > Entrepreneur Daily > January 8, 2008

Entrepreneur Daily

January 08, 2008

Holiday Round-Up

(Business News, Marketing)

The holiday shopping season is officially over. But it's never too early for retailers to plan ahead for 2008. According to this MediaPost article, the final online holiday shopping numbers are in. comScore, Inc. reported that online shopping for the 2007 holiday season totaled $29.2 billion, a 19 percent increase from the same period in 2006. The heaviest day for online shopping was Monday, December 10, with $881 million in sales. Tuesday, December 11 wasn't too far behind with $819 million. "Cyber Monday," which is usually the day online shopping kicks off following Thanksgiving, came in as the ninth heaviest day.

The best-selling categories included video games, consoles and accessories, which experienced a 129 percent increase from the 2006 holiday season. Furniture, appliances and equipment jumped about 67 percent from the previous season, while sales in the jewelry industry declined marginally thanks to the rising cost of precious metals.

Entrepreneur CES Update

(Business News, Tech)

After a day of dealing with late shuttles and tired feet, we continued our CES adventure and headed to TigerDirect's 11th Annual Build Your Own PC Race for Charity last night. Our very own Amanda Kooser competed (as the only female) against 29 others to assemble a $3,500 computer in the shortest amount of time. The winner would receive a $10,000 check to the charity of their choice. Amanda came in 19th, and her computer will be donated to her charity. Way to go!

Today brought more meetings, with companies like Belkin, Canon, Lenovo and Microsoft; more wading through people and their pitches; and more free lunches and cocktail parties.

This afternoon, I have the opportunity to meet with the folks at CNBC as well as the innovative entrepreneur behind Bug Labs, Peter Semmelhack, who was recently featured on The Big Idea with Donny Deutsch. Check in later to find out when it'll air and more about our big reveal on the show.--Lindsay Holloway

Thinking Outside the CES Booth

(Events and Resources, Tech)

CES is a huge show and for some small business owners, the price to exhibit here might be out of their range. But I've seen a few companies that have figured out a solution to this problem. Some fast-thinking entrepreneurs are foregoing renting booth space and are instead wandering the massive halls of the Las Vegas Convention Center and attracting media attention by doing the legwork themselves. Going out and approaching press attendees on foot might be unorthodox (and maybe against the rules) but for the smaller fish in a big sea full of large companies, it definitely works.--James Park

McDonald's Challenges Starbucks

(Business News, Business Trends)

They're best known for Happy Meals and Big Macs. But now, McDonald's hopes to entice customers to come to the golden arches for something other than fast-food. The company has decided to add coffee bars into their almost 14,000 U.S. locations starting this year. The specialty coffee selections will include cappuccinos, lattes, mochas and the Frappe, similar to the ice-blended Frappuccino from Starbucks. According to internal documents from McDonald's, the program will add $1 billion to the company's $21.6 billion in annual sales. The coffee beverages will range in price from $1.99 to $3.29, and McDonald's is telling customers the drinks are between 60 and 80 cents cheaper than their competitors. The beverage expansion will also include smoothies and bottled beverages, in addition to a soda fountain with flavor shots.

According to WSJ.com, McDonald's latest move is an example of the growing overlap between the fast-food chain and Starbucks. While McDonald's has upgraded its drip coffee and the interiors of its locations, Starbucks has added drive-thru windows and hot breakfast sandwiches. As the article points out, this confrontation between the two demonstrates just how vital a component convenience has become in the fast-food industry.

Just as news rolled out about McDonald's latest venture, Starbucks Corp. announced that it's returning its chairman, Howard Schultz, to the CEO position in order to lead a major restructuring initiative. Over the past year, Starbucks has seen its stock drop 50 percent.

 







<<January 2008>>
SunMonTueWedThuFriSat
12345
6789101112
13141516171819
20212223242526
2728293031
Categories
Recent Posts
Archive
More Entrepreneur Blogs
Feeds
Subscribe

Add to My Yahoo!
Add to Google
Add to My AOL
Add to My MSN