Welcome to 3PM Snacks, a mid-week (and mid-day!) rundown of what’s going on in the worlds of eCommerce, big data, and artificial intelligence. We hope you find it informative and easy to digest.
Amazon consumer chief Jeff Wilke took the stage the Wall Street Journal’s annual Tech Live conference in Laguna Beach, California on Tuesday, and pushed back against news reports that uncovered counterfeit, unsafe, and expired products on its website. Wilke stated:
You can find anecdotes to support whatever conclusion you want, but the vast majority of sales on Amazon are legitimate product, safe product.
I suppose that’s true. But here’s the thing, Jeff. Claiming confirmation bias and labeling a finding as anecdotal doesn’t invalidate it. In the case of the recent CNBC article exposing the rate of expired products on Amazon, 3PM’s analysis for CNBC looked at 150+ million product reviews and 2+ million third-party sellers. We didn’t have a pre-conceived conclusion in mind when we performed the analysis — we simply let the data talk to us.
Target basically died in 2017. It’s announced turnaround plan led to its biggest stock plunge in a decade, and people were laughing as it faded into the abyss.
But then something happened. The turnaround plan worked. Fast forward to 2019, and the stock is trading at all-time highs. How did Target do it? By ignoring the analysts and naysayers, and getting back to the basics.
Inc. contributor Justin Bariso does a great job chronicling Target’s rags-to-riches story, which he summarizes as: “Thinking long-term. Leveraging strengths. Filling gaps.”
Our friends over at OrcaPac have been pumping out some fantastic video content lately, and their latest video on creating top-notch detail pages is particularly timely and relevant as we near the end of October.
PRO TIP: The advice they offer in this video pairs well with a powerful digital product content optimization platform like, say, 3PM WATCH.