Home > Entrepreneur Daily > October 24, 2007

Entrepreneur Daily

Ready, Set, Shop

(Business News, E-Commerce)

Despite a sluggish economy, the National Retail Federation reports consumer spending is expected to rise mildly this holiday season. According to this USA Today article, retailers should see a 3.7-percent increase in sales from 2006. The average consumer is expected to spend a total of $923.36. The NRF survey also says retailers should prepare for an early start to the season--40 percent of shoppers plan to begin holiday shopping before Halloween. Online shopping is also on the rise, with an average of 30 percent of consumers planning to find their special gifts on their favorite websites.

Build-A-Ring Workshop

(Business Trends)

What could mean more than giving your spouse-to-be a wedding ring you actually made? That's the idea behind New York Wedding Ring, a company bringing Build-A-Bear Workshop to the adult world. The shop, mentioned in the Springwise newsletter, allows customers to create the ring of their dreams, and actually make it in one to two days. Because of the intricacy of making jewelry, most jewelers would probably balk at the idea of allowing customers to play goldsmith. But at New York Wedding Ring, couples are guided by a professional jeweler at every stage of the process. Pricing starts at $1,075 for two simple palladium wedding rings, while more elaborate designs could cost an additional $850.

So far, grown-ups can join in the jewelry workshops in both San Francisco and New York.

E-Commerce Biz Plan Contest

(E-Commerce, HR and Management)

There are plenty of business-plan competitions held across the country. But Art Technology Group, Inc. says it is offering the first business plan contest geared toward e-commerce. Today, ATG announced the launch of the first e-Commerce Ingenuity Business Plan Competition, which will award one entrepreneur $50,000 in cash. Second place receives $10,000 in cash--this winner will be chosen by the number of votes received on the company's blog, e-Commerce Insights.

Submissions must include an e-commerce element as a core part of the plan's success. Here are some examples ATG offers:

  • New technology offerings to attract and retain specific customer segments
  • New solutions for creating loyal communities of e-commerce consumers
  • Visionary user-interface developments or approaches to personalized e-commerce experiences
  • Vehicles to deliver cutting-edge e-commerce experiences to new industries

If you think your company has the right concept, you or your team has until January 30 to complete a "Competition Submission."