#frictionless shopping

[mostlysignssomeportents]

The health industry’s invisible hand is a fist

On June 21, I'm doing an ONLINE READING for the LOCUS AWARDS at 16hPT. On June 22, I'll be in OAKLAND, CA for a panel and a keynote at the LOCUS AWARDS.

The US has the rich world's most expensive health care system, and that system delivers the worst health outcomes of any country in the rich world. Also, the US is unique in relying on market forces as the primary regulator of its health care system. All of these facts are related!

Capitalism's most dogmatic zealots have a mystical belief in the power of markets to "efficiently allocate" goods and services. For them, the process by which goods and services are offered and purchased performs a kind of vast, distributed computation that "discovers the price" of everything. Our decisions to accept or refuse prices are the data that feeds this distributed computer, and the signals these decisions send about our desires triggers investment decisions by sellers, which guides the whole system to "equilibrium" in which we are all better off.

There's some truth to this: when demand for something exceeds the supply, prices tend to go up. These higher prices tempt new sellers into the market, until demand is met and prices fall and production is stabilized at the level that meets demand.

But this elegant, self-regulating system rarely survives contact with reality. It's the kind of simplified model that works when we're hypothesizing about perfectly spherical cows of uniform density on a frictionless surface, but ceases to be useful when it encounters a messy world of imperfect rationality, imperfect information, monopolization, regulatory capture, and other unavoidable properties of reality.

For members of the "efficient market" cult, reality's stubborn refusal to behave the way it does in their thought experiments is a personal affront. Panged by cognitive dissonance, the cult members insist that any market failures in the real world are illusions caused by not doing capitalism hard enough. When deregulation and markets fail, the answer is always more deregulation and more markets.

That's the story of the American health industry in a nutshell. Rather than accepting that people won't shop for the best emergency room while unconscious in an ambulance, or that the "clearing price" of "not dying of cancer" is "infinity," the cult insists that America's worst-in-class, most expensive health system just needs more capitalism to turn it into a world leader.

In the 1980s, Reagan's court sorcerers decreed that they could fix health care with something called "Prospective Payment Systems," which would pay hospitals a lump sum for treating conditions, rather than reimbursing them for each procedure, using competition and profit motives to drive "efficiency." The hospital system responded by "upcoding' patients: if you showed up with a broken leg and a history of coronary disease, they would code you as a heart patient and someone who needed a cast. They'd collect both lump sums, slap a cast on you, and wheel you out the door:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4195137/

As Robert Kuttner writes for The American Prospect, this kind of abuse was predictable from the outset, especially since Health and Human Services is starved of budget for auditors and can only hand out "slaps on the wrist" when they catch a hospital ripping off the system:

https://prospect.org/economy/2024-06-13-fantasyland-general/

Upcoding isn't limited to Medicare fraud, either. Hospitals and insurers are locked in a death-battle over payments, and hospitals' favorite scam is sending everyone to the ER, even when they don't have emergencies (some hospitals literally lock all the doors except for the ER entrance). That way, a normal, uncomplicated childbirth can be transformed into a "Level 5" emergency treatment (the highest severity of emergency) and generate a surprise bill of over $2,700:

https://pluralistic.net/2021/10/27/crossing-a-line/#zero-fucks-given

The US health industry is bad enough to generate a constant degree of political will for change, but the industry (and its captured politicians and regulators) is also canny enough to dream up an endless procession of useless gimmicks designed to temporarily bleed off the pressure for change. In 2018, HHS passed a rule requiring hospitals to publish their prices.

Hospitals responded to this with a shrewd gambit: they simply ignored the rule. So in 2021, HHS made another rule, creating penalties for ignoring the first rule:

https://www.cms.gov/priorities/key-initiatives/hospital-price-transparency/hospitals

The theory here was that publishing prices would create "market discipline." Again, this isn't wholly nonsensical. To the extent that patients have nonurgent conditions and the free time to shop around, being able to access prices will help them. Indeed, if the prices are in a standards-defined, machine-readable form, patients and their advocates could automatically import them, create price-comparison sites, leaderboards, etc. None of this addresses the core problem that health-care is a) a human right and b) not a discretionary expense, but it could help at the margins.

But there's another wrinkle here. The same people who claim that prices can solve all of our problems also insist that monopolies are impossible. They've presided over a decades-long assault on antitrust law that has seen hospitals, pharma companies, insurers, and a menagerie of obscure middlemen merge into gigantic companies that are too big to fail and too big to jail. When a single hospital system is responsible for the majority of care in a city or even a county, how much punishment can regulators realistically subject it to?

Not much, as it turns out. Kuttner describes how Mass Gen Brigham cornered the market on health-care in Boston, allowing it to flout the rules on pricing. In addition to standard tricks – like charging self-pay patients vastly more than insured payments (because individuals don't have the bargaining power of insurers), Mass Gen Brigham's price data is a sick joke.

See for yourself! The portal will send you giant, unstructured, ZIPped text files filled with cryptic garbage like:

ADJUSTABLE C TAPER NECK PLUS|1|UNITED HEALTHCARE [1016]|HB CH UNITED HMO / PPO / INDEMNITY [34]|UNITED HEALTHCARE HMO [101604]|75|Inv Loc: 1004203; from OR location 1004203|52.02|Inpatient PAF; 69.36% Billed|75|Inv Loc: 1004203; from OR location 1004203|56.87|Outpatient PAF; 75.83% Billed

https://www.massgeneralbrigham.org/en/patient-care/patient-visitor-information/billing/cms-required-hospital-charge-data

These files have tens of thousands of rows. As a patient, you are meant to parse through these in order to decide whether you're getting ripped off on that HIP STEM 16X203MM SIZE 4 FEMORAL PRESS FIT NEUTRAL REVISION TITANIUM you're in the market for (as it happens, I have two of these in my body).

Kuttner describes the surreal lengths he had to go through to prevent his mother from getting ripped off by Mass Gen through an upcoding hustle. By coding her as "admitted for observation," Mass Gen was able to turn her into an outpatient, with a 20% co-pay (this is down to a GW Bush policy that punishes hospitals that charge Medicare for inpatient care when they could be treated as outpatients – hospitals reflexively game the system to make every patient an outpatient, even if they have overnight hospital stays).

Kuttner's an expert on this: he was national policy correspondent for the New England Journal of Medicine and covers the health beat for the Prospect. Even so, it took him ten hours of phone calls to two doctors' offices and Blue Cross to resolve the discrepancy. The average person is not qualified to do this – indeed, the average person won't even know they've been upcoded.

Needless to say that people in other countries – countries where health care is cheaper and the outcomes are better – are baffled by this. Canadians, Britons, Australians, Germans, Finns, etc do not have to price-shop for their care. They don't have to hawkishly monitor their admission paperwork for sneaky upcodes. They don't have to spend ten hours on the phone arguing about esoteric billing practices.

In a rational world, we'd compare the American system to the rest of the world and say, "Well, they've figured it out, we should do what they're doing." But in good old U-S-A! U-S-A! U-S-A!, the answer to this is more prices, more commercialization, more market forces. Just rub some capitalism on it!

That's where companies like Multiplan come in: this is a middleman that serves other middlemen. Multiplan negotiates prices on behalf of insurers, and splits the difference between the list price and the negotiated price with them:

https://www.nytimes.com/2024/04/07/us/health-insurance-medical-bills.html

But – as the Arm and a Leg podcast points out – this provides the perverse incentive for Multiplan to drive list prices up. If the list price quintuples, and then Multiplan drives it back down to, say, double the old price, they collect more money. Meanwhile, your insurer sticks you with the bill, over and above your deductible and co-pay:

https://armandalegshow.com/episode/multiplan/

The Multiplan layer doesn't just allow insurers to rip you off (though boy does it allow insurers to rip you off), it also makes it literally impossible to know what the price is going to be before you get your procedure. As with any proposition bet, the added complexity is there to make it impossible for you to calculate the odds and figure out if you're getting robbed:

https://pluralistic.net/2022/05/04/house-always-wins/#are-you-on-drugs

Multiplan is the purest expression of market dynamics brainworms I've yet encountered: solving the inefficiencies created by the complexity of a system with too many middlemen by adding another middle-man who is even more complex.

No matter what the problem is with America's health industry, the answer is always the same: more markets! Are older voters getting pissed off at politicians for slashing Medicare? No problem: just create Medicare Advantage, where old people can surrender their right to government care and place themselves in the loving hands of a giant corporation that makes more money by denying them care.

The US health industry is a perfect parable about the dangers of trusting shareholder accountable markets to do the work of democratically accountable governments. Shareholders love monopolies, so they drove monopolization throughout the health supply chain. As David Dayen writes in his 2020 book Monopolized the pharma industry monopolized first, and put the screws to hospitals:

https://pluralistic.net/2021/01/29/fractal-bullshit/#dayenu

Hospitals formed regional monopolies to counter the seller power of consolidated Big Pharma. That's Mass Gen's story: tapping the capital markets to buy other hospitals in the region until it became too big to fail and too big to jail (and too big to care). Consolidated hospitals, in turn, put the screws to insurers, so they also consolidated, fighting Big Hospital's pricing power.

Monopoly at any point in a supply chain leads to monopoly throughout the supply chain. But patients can't consolidate (that's what governments are for – representing the diffuse interests of people). Neither can health workers (that's what unions are for). So the system screwed everyone: patients paid more for worse care. Health workers put in longer hours under worse conditions and got paid less.

Kuttner describes how his eye doctor races from patient to patient "as if he was on roller skates." When Kuttner wrote him a letter questioning the quality of care, the eye doctor answered that he understood that he was giving his patients short shrift, but explained that he had to, because his pay was half what he needed, relegating him to a small apartment and an old car. The hospital – which skims the payments he gets for care – sets his caseload, and he can't turn down patients.

The answers to this are obvious: get markets out of health care. Unionize health workers. Give regulators the budgets and power to hold health corporations to account.

But for market cultists, all of that can't work. Instead, we have to create more esoteric middlemen like "pharmacy benefit managers" and Multiplan. We need more prices to shovel into the market computer's data-hopper. If we just capitalism hard enough, surely the system will finally work…someday.

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2024/06/13/a-punch-in-the-guts/#hayek-pilled

[wardensantoineandevka]

sorry to bother you but i wanted to ask how you're enjoying using Obsidian? I've been eyeing it for a while but would love to know your thoughts, highlights, lowlights, etc :) if you don't mind sharing, ofc!

No worries! The short version is that I've been enjoying Obsidian quite a lot, and I find that it serves all of my needs nicely without any fuss. Using it is rather frictionless, I think, and getting used to it was pretty easy though it did take some willingness to very much learn to navigate its menus and features and how it lays everything out. It's not at all difficult, but I do think you have to sit with it for a bit. It's currently my main writing program with the exception of screenplays, for which I use Highland 2.

For context on myself, my writing needs are rather straightforward. I use these sorts of apps and programs to write and organize my fanfic, original prose writing, professional correspondence, and journalistic article drafts. I previously used Notion, which I left because of the big NotionAI push. Before Notion, I used Bear, though I can't remember why I stopped using it; I haven't checked out Bear 2, so I don't know if it suits my needs.

When I was shopping around for a new program to use, the following points were important to me, in no particular order:

no native / built-in generative AI assistants

interface is simple and clean or had customization or community themes that would make it so

offline access

mobile app with document sync

ability to organize and group notes through a folder, tag, or similar system

not too many Things going on with it or I could very easily ignore stuff I didn't use without them cluttering up the UI or my space

Obsidian organizes files within "vaults", of which you can have multiple, each of which are connected to folders that are stored locally on my laptop (or my phone). I love this. I have local versions of all of my notes. I can literally find all my stuff as markdown files within a folder on my desktop and open them up in another program with EASE. If you are someone who doesn't have a lot of storage space, this might be an issue, but for me, this is a very bright highlight.

The biggest lowlight for me is that mobile sync is reliant on a subscription fee, but considering that the rest of the program is free and the fee is small, I found this ultimately a very small concern. I very critically need mobile sync because I spend a significant amount of time writing from my phone. The mobile sync is incredibly good; it keeps all documents synchronized very well, and I have yet to run into version conflicts that cause me to accidentally overwrite and lose significant progress. I don't even have to close files on my laptop first; they'll just update in real-time on my screen like Google Docs. Sometimes I'll name documents something that my phone's file path system cannot handle; Obsidian warns me that it cannot fetch and sync these files with illegal names, and I like that it keeps me informed about that.

It has both a folder system and a tag system, which allows you to organize your files. I only use the folder system because my needs are simple, but the tag system is also solid. It also has a robust search system. It also has a bookmarking system to further organize your stuff. I don't have enough files to use that, but it is available, and I think that's neat.

More precise customization can be difficult if you're not used to writing CSS. I am familiar with CSS, so I found this a small hurdle, but this will be a bigger issue for others. That said, this does mean that Obsidian is DEEPLY customizable, and there is a large gallery of community themes that offer a lot of styles that serve a wide variety of needs. There is also a deep bench of community plugins to help get Obsidian to do what you want — I have plugins that make the word count in the status bar show the count of highlighted text and allow me to copy text as HTML instead of formatted text or markdown. There is also an active Obsidian community and forum, so you will not be necessarily troubleshooting customization alone.

Other small things that occur to me to mention right now: It supports opening files in multiple windows, and it has a tab system, which is really neat. The ability to open multiple files at a time is very good. You can also open files side-by-side for easy comparison, which is useful for more technical work. I don't use Obsidian for coding or wiki work, but I can imagine this being really useful for that. It has a reading mode. Offers a version history with a "show changes" mode and restoration capability. File merge capability. You can open images into it and organize them like any other file.

All in all, I'm very happy with it, and it serves all of my personal needs very well. I generally give it a blanket recommendation, again noting that I think it does take sitting with to get used to some of its features and UI and customizing it to your needs and preferences, but I don't think that's super difficult with some patience and time.

[acceptccnow]

Unlocking the Power of Credit Card Payments for CBD Businesses

Article by Jonathan Bomser | CEO | Accept-Credit-Cards-Now.com

In today's dynamic world, where efficiency and convenience rule the day, businesses, especially those navigating high-risk territories like CBD, must stay on the cutting edge. An integral part of this evolution involves adopting credit card transactions. This in-depth article delves into the world of CBD credit card processing, exploring its pivotal significance for enterprises in this unique niche. Join us as we embark on a journey to unravel the full potential of CBD Credit Card Processing.

DOWNLOAD THE UNLOCKING THE POWER INFOGRAPHIC HERE

Revolutionizing CBD Transactions: A Game-Changer The landscape for CBD business owners in high-risk industries presents unique challenges. Traditional banks and payment processors often shy away from such enterprises, adding complexity to transaction processes. However, the game-changer emerges with the adoption of CBD credit card processing. This innovative approach has the power to reshape business operations, streamline payment processes, and eliminate unnecessary hurdles. By making credit card payments accessible, businesses can significantly elevate the shopping experience for customers, fostering substantial growth in the CBD sector.

Navigating High-Risk Waters: Merchant Processing Solutions CBD credit card processing serves as a transformative solution by dismantling barriers that frequently impede high-risk businesses. Securing an optimal high-risk merchant account and a robust payment processing system becomes the key to unlocking a broader customer base. This strategic move enables businesses to tap into a vast market of consumers seeking the convenience and security of credit card payments. By embracing CBD credit card processing, enterprises can transcend limitations, thrive in a competitive landscape, and cultivate both growth and customer satisfaction.

CBD Payment Gateway: Digital Pathway to Triumph Visualize a CBD payment gateway as the digital conduit linking your business to the global market. This specialized system acts as a secure channel, handling transactions seamlessly and ensuring customers enjoy a frictionless shopping experience. In the dynamic realm of e-commerce, where convenience reigns supreme, this gateway plays a pivotal role in meeting the expectations of online shoppers. Its seamless integration guarantees swift and secure payment processing, enhancing your reputation and trustworthiness in the digital marketplace.

E-commerce Payment Processing: Shaping the Retail Future E-commerce stands as a driving force in the contemporary retail landscape, gaining ever-increasing importance. E-commerce payment processing emerges as the lifeblood for businesses, especially those in the burgeoning CBD industry. Embracing the ability to accept credit cards for e-commerce not only opens doors to diverse customers but positions businesses to cater to a broader audience. This evolution in payment methods is not merely a convenience but a strategic necessity for staying competitive and thriving in the modern retail world.

Expanding Frontiers: Credit Repair Merchant Processing Within the context of e-commerce, the growing significance within the retail sector cannot be overstated. E-commerce payment processing has become the lifeblood for various industries, including CBD. The capability to accept credit cards for e-commerce doesn't just offer opportunities; it empowers businesses in the CBD sector to serve a wider range of customers. This shift in payment methods acts as a game-changer, fostering growth and accessibility in the CBD industry, aligning perfectly with the digital age's demands for convenience and efficiency.

Strategic Edge: Credit Card Payment Gateway Solutions In today's intensely competitive business landscape, setting oneself apart becomes imperative. Embracing credit card payment gateway solutions is a strategic move that provides a distinct competitive edge. By offering diverse payment options, including credit and debit card payments, businesses streamline transactions and enhance the overall shopping experience. This customer-centric approach often results in heightened loyalty and increased sales. Additionally, the data insights from credit card transactions aid informed decision-making, refining business strategies.

Multifaceted Benefits of Credit Card Payments The acceptance of credit cards expands the customer base, potentially increasing sales. Offering secure payment options builds trust among customers, enhancing business credibility. Credit card payments simplify transactions for both businesses and customers, streamlining the entire buying process. Embracing credit card payments reduces the need for physical cash handling, mitigating associated risks. This opens doors to international customers, expanding global reach. Faster payment processing translates to improved cash flow, vital for sustaining businesses in the long run.

Unlocking the substantial power of credit card payments for CBD ventures and other high-risk industries is not just an option but a necessity. By embracing credit card payments and leveraging high-risk payment processing solutions, businesses position themselves for substantial growth, enhanced credibility, and long-term success. In an ever-evolving digital landscape, staying ahead of the curve is imperative. Embrace credit card payment services, explore high-risk merchant accounts, and leverage e-commerce payment processing to propel businesses into the future. By doing so, businesses secure their place in the ever-changing realm of commerce, ready to thrive and adapt in the face of new challenges and opportunities.

[okbuyshop]

OkBuy.shop Launches Secure, OTP-Free Solution to Empower Local Businesses with Innovative Pickup Point Model

OkBuy.shop is revolutionizing the e-commerce industry by creating new income opportunities for local shops through its secure and innovative Pickup Point model. In the pre-launch period, the platform allows shopkeepers to register for FREE to serve as Pickup Points, with an earning potential of more than 5 times their current income. In an era where e-commerce has become a threat to local businesses, OkBuy.shop aims to help small shop owners thrive rather than lose customers. With over 1,000 Pickup Points already established across India in just 40 days, the company is on track to recruit 10,000 Pickup Points by the end of 2024.

As part of its commitment to deliver a secure and frictionless experience for both shopkeepers and customers, OkBuy.shop has launched an innovative solution that eliminates the need for OTP (One-Time Password) verification in transactions. While OTP has been widely used in digital platforms, it has increasingly become a target for fraudsters who exploit this system to carry out fraudulent activities. Recognizing this vulnerability, OkBuy.shop has developed a system that not only enhances security but also improves user convenience by bypassing the OTP process altogether.

“The use of OTP has unfortunately become one of the leading sources of digital fraud, with cases of phishing and SIM-swapping on the rise,” said Rohan Dogra, CPO of Hershall Computing Private Limited. “At OkBuy.shop, we believe in providing a solution that is not only secure but also user-friendly. Our OTP-free system ensures that our users are protected from such fraudulent practices while allowing them to conduct their transactions with ease.”

By eliminating OTP as the verification base, OkBuy.shop is taking a proactive approach in safeguarding its users from potential threats. This new feature integrates advanced security protocols, encryption techniques, and multi-factor authentication, ensuring that both shopkeepers and customers can interact with the platform safely and efficiently.

“We understand that security and ease-of-use are critical for local businesses, many of whom may not be familiar with complex digital processes. Our solution not only simplifies the user experience but also significantly reduces the risk of fraud,” Dogra added.

Shopkeepers can sign up at OkBuy.shop to join the growing network of Pickup Points. During the ongoing special promotion, shopkeepers who recommend 10+ others will earn upto Rs. 200 for every successful recommendation.

“Our mission is to empower local businesses and create sustainable income sources for them,” said Rohan Dogra. “We’re offering shopkeepers a simple and effective way to participate in the e-commerce ecosystem while increasing their foot traffic and revenues.”

OkBuy.shop’s combined focus on empowering local businesses and enhancing digital security makes it a powerful platform that offers both economic opportunities and peace of mind for shopkeepers and customers alike.

[worldwidewubs35]

Friction and AI

A lot of these examples of frictionless customer experiences seem to have a hidden cost associated with them to the consumer: lost privacy. This dynamic of giving up biometrics or consent to even more video recording than normal in exchange for smoother experience is a choice that a lot of these companies and makes consumers feel powerless.

Friction often helps identify mistakes made by either the consumer or the company via increased deliberation. For example, seeing my shopping cart total bill before I walk out and ensure I’m being charged the right amount instead of implicitly trusting the computer vision systems.

One example of good friction I think of is with luxury brands that impose barriers on buying (artificially deflate supply, wait times, etc).

A lot of the mindset shifts around experimentation require coming to grips with the fact that experimenting is more expensive than companies believe if they want to do it correctly.

[allaboutmarketing4you]

Marketing Strategy And Marketing Mix Of Neiman Marcus

" Marketing Strategies of Neiman Marcus

Neiman Marcus, a titan of the luxury retail industry, has consistently employed innovative and multifaceted marketing strategies to maintain its position at the forefront of the market. Here’s a closer look at the key Marketing Strategies of Neiman Marcus:

1. Target Audience and Brand Positioning

Neiman Marcus caters to a highly exclusive clientele. Their target audience falls within the socio-economic class A, primarily consisting of elite and high-end street shoppers. These individuals frequent luxury boutiques and branded stores similar to Saks Fifth Avenue, seeking out top-tier apparel and personal items.

Neiman Marcus positions itself as the ultimate luxury shopping destination. They go beyond simply selling products; they offer access to exclusive and emerging brands, exceptional customer service, and unique experiences. This brand positioning is built on two pillars: personalized shopping experiences and unwavering commitment to quality.

Neiman Marcus understands the value of loyal customers. A highly affluent clientele, with the top 2% contributing 40% of sales, forms the core of their business. Notably, 80% of these top customers boast a net worth of at least $1 million. Recognizing this, Neiman Marcus prioritizes personalized service and unparalleled product quality, solidifying their position as a leader in the luxury retail landscape.

2. Omni-Channel Presence

In today’s dynamic retail landscape, Neiman Marcus, a renowned luxury brand, prioritizes a robust omnichannel presence. This strategy seamlessly integrates various touchpoints to provide a unified and convenient shopping experience for their discerning clientele.

Neiman Marcus offers a comprehensive suite of omnichannel initiatives:

A feature-rich mobile app: Customers can browse and purchase products, track orders, manage loyalty rewards, and stay informed about latest offerings, all at their fingertips.

A unified website: This platform seamlessly connects with the mobile app and physical stores, ensuring consistent information and a smooth transition between online and offline shopping.

A rewarding loyalty program: Customers earn points for purchases across all channels, online, in-store, and via the app, fostering brand loyalty and encouraging repeat business.

Engaging social media presence: Neiman Marcus leverages social media platforms to connect with customers, showcase new products and promotions, and build brand awareness.

These initiatives culminate in a personalized and frictionless shopping experience. Customers can seamlessly begin their shopping journey online, check product availability in nearby stores using the app, and complete their purchase in-store or vice versa. This flexibility caters to individual preferences and enhances customer satisfaction.

The success of Neiman Marcus’ omnichannel strategy is evident. The company has witnessed a 5% increase in same-store sales and a 10% improvement in customer satisfaction within a short period. Industry recognition further validates their approach, with Neiman Marcus being named the “Omnichannel Retailer of the Year” in 2017. This commitment to omnichannel excellence positions Neiman Marcus at the forefront of delivering exceptional customer experiences in the luxury retail space.

3. Event Marketing and Exclusive Collaborations

Neiman Marcus, a name synonymous with luxury, transcends mere product offerings. Recognizing the power of connection and exclusivity, they leverage event marketing and strategic collaborations to cultivate deeper customer engagement and brand loyalty.

One of their signature initiatives is “Shop the Runway,” a biannual event featuring coveted designer collections. This highly anticipated experience, selling out months in advance, allows customers to witness fashion firsthand and immerse themselves in the world of luxury.

Beyond this marquee event, Neiman Marcus curates a diverse calendar:

Trunk shows: Offering intimate access to specific designers and their creations.

Meet-and-greets: Providing opportunities for personalized interactions with industry icons.

Beauty workshops: Equipping customers with expert knowledge and product insights.

Furthermore, Neiman Marcus fosters strategic partnerships for exclusive events. A noteworthy example is their collaboration with Target, creating a unique pop-up shop experience in New York City.

Exclusive collaborations are another cornerstone of their marketing strategy. Partnering with renowned brands like Dior allows them to offer limited-edition collections and unique experiences unavailable elsewhere. This approach fosters a sense of exclusivity and desirability, further solidifying their position as a purveyor of unparalleled luxury.

By orchestrating captivating events and forging strategic collaborations, Neiman Marcus cultivates an emotional connection with its clientele. These initiatives go beyond traditional marketing, fostering brand loyalty and ensuring customers return for more than just exquisite products. They offer immersive experiences and a sense of belonging to the world of luxury, solidifying Neiman Marcus’ position at the forefront of the discerning customer’s journey.

4. Personalization and Customer Engagement

Neiman Marcus understands that luxury is not one-size-fits-all. They prioritize personalization and customer engagement across online and in-store channels, fostering meaningful connections and driving brand loyalty.

Personalization is woven into the fabric of their customer experience:

AI-powered content: Dynamic recommendations, style inspiration, and exclusive offers tailored to individual preferences grace their website and app, ensuring a relevant and engaging journey.

Empowered associates: Equipped with the “Connect” application, associates gain access to rich customer data, enabling them to personalize interactions, making each encounter more meaningful and memorable.

Targeted communication: Leveraging SMS and other channels, Neiman Marcus delivers personalized updates on new arrivals, special offers, and upcoming events, keeping customers informed and engaged.

By prioritizing personalization and customer engagement, Neiman Marcus transcends mere product offerings. They cultivate lasting relationships with their clientele, ensuring a tailored and rewarding luxury experience that keeps them coming back for more. This approach positions them as a leader in understanding and catering to the ever-evolving needs and desires of discerning customers in the luxury retail landscape.

5. Social Media and Influencer Marketing

Neiman Marcus recognizes the power of social media in reaching their discerning clientele. They leverage platforms like Instagram and Pinterest to cultivate an exclusive and visually captivating online presence.

Rich visual content plays a central role in their strategy:

Instagram’s potential is maximized by showcasing stunning product photography, lifestyle imagery, and curated content that resonates with their target audience.

Influencer partnerships further amplify their reach and brand message:

Collaborations with influential figures allow Neiman Marcus to tap into established audiences and gain valuable endorsement. These partnerships can take various forms, including:

Personal video vignettes: Influencers sharing their experiences with Neiman Marcus products in relevant settings.

Unboxing, tutorial, and product review videos: Providing in-depth content that educates and excites potential customers.

Creating engaging content is paramount to success. Neiman Marcus meticulously tailors their approach by:

Understanding their audience: Deeply comprehending their hobbies, passions, and challenges allows them to craft content that resonates and fosters meaningful connections.

By employing these strategies, Neiman Marcus transcends simply selling products. They cultivate a vibrant online community where potential customers discover, engage with, and aspire to the luxury lifestyle they represent.

Their diverse roster of collaborators reflects their commitment to inclusivity and catering to a wide range of tastes:

Women: Partnerships with influential women leaders and established figures like Maggie Gyllenhaal and Veronica Swanson Beard add depth and relatability to their brand narrative.

Men: Collaborations with models and lifestyle influencers like Aaron Wester broaden their reach and cater to the multifaceted interests of their male audience.

Through strategic social media engagement and influencer partnerships, Neiman Marcus positions itself as a thought leader in the luxury retail space, fostering brand loyalty and driving sales in the ever-evolving digital landscape.

6. Seasonal Sales and Promotions

Seasonal sales and promotions are a cornerstone of Neiman Marcus’ marketing strategy. The company regularly hosts sales events throughout the year, offering significant discounts on a wide range of merchandise. These sales attract bargain-conscious shoppers and help to clear out older inventory. Additionally, Neiman Marcus participates in major shopping holidays like Black Friday, further boosting sales and brand awareness.

Beyond seasonal sales, Neiman Marcus offers a variety of ongoing promotions and services to entice customers. Their Last Call section provides daily discounts of up to 70%, while the Friends & Family event offers 25% off on select items. These exclusive promotions create a sense of urgency and exclusivity, encouraging customers to shop more frequently.

Neiman Marcus also leverages special events to enhance the customer experience and drive sales. Holiday events like Breakfast with Santa and White Elephant parties create a festive atmosphere and attract families. Additionally, trunk shows allow customers to meet designers and preview new collections, fostering a sense of exclusivity and excitement. These events not only generate sales but also build brand loyalty and create lasting memories for customers.

7. Loyalty Program

Neiman Marcus fosters customer loyalty through its reward program, InCircle. This program offers tiered benefits based on annual spending, incentivizing customers to shop more frequently and increase their brand engagement.

InCircle features five main tiers, each with increasingly attractive privileges. As customers spend more, they unlock benefits like exclusive discounts, member-only events, personalized shopping experiences, and early access to new collections. These exclusive perks create a sense of value and appreciation, encouraging customers to remain loyal to the brand.

The program also rewards everyday purchases. Members earn points on their spending, which can be redeemed for valuable rewards like gift cards and discounts. This points system provides immediate gratification and motivates customers to continue shopping at Neiman Marcus.

Overall, InCircle plays a crucial role in Neiman Marcus’ marketing strategy by building customer loyalty, driving repeat business, and fostering a sense of community among its most valued customers.

By continually adapting their strategies and embracing innovation, Neiman Marcus remains a dominant force in the luxury retail landscape. Their customer-centric approach, commitment to digital excellence, and focus on storytelling ensure that the brand continues to resonate with discerning consumers seeking an unparalleled luxury experience.

Marketing Mix of Neiman Marcus

Neiman Marcus’ success in the highly competitive luxury retail landscape can be attributed to their strategic use of the marketing mix, also known as the 4Ps: Product, Price, Place, and Promotion. Let’s delve deeper into how Neiman Marcus utilizes each element to cultivate a distinctive brand identity and attract their target audience.

1. Product

Premium quality and exclusivity: Neiman Marcus meticulously curates a selection of high-end designer brands and products, ensuring exceptional quality and craftsmanship. This focus on exclusivity caters to a discerning clientele seeking unique and coveted items.

Brand diversity: While maintaining a focus on luxury, Neiman Marcus offers a diverse range of brands across various categories, including clothing, accessories, beauty, home goods, and gifts. This caters to a wider audience with varying tastes and preferences within the luxury segment.

Limited-edition offerings and collaborations: Partnering with renowned designers and brands for exclusive capsule collections or limited-edition products creates a sense of scarcity and desirability, driving customer interest and excitement.

Personalized shopping experiences: Neiman Marcus offers personalized styling consultations and recommendations, catering to individual preferences and needs. This elevates the product offering beyond mere transactions, creating a tailored and memorable experience.

2. Price

Premium pricing strategy: Consistent with the brand’s positioning and the quality of products offered, Neiman Marcus employs a premium pricing strategy. This reinforces the perception of exclusivity and value associated with the brand.

Price differentiation: While maintaining a premium positioning, Neiman Marcus employs strategic pricing across different product categories and brands, catering to a broader customer base within the luxury segment.

Promotional pricing and loyalty programs: The brand strategically utilizes limited-time discounts, special offers, and loyalty programs to incentivize purchases, drive customer engagement, and reward loyal customers.

3. Place

Omnichannel presence: Neiman Marcus seamlessly integrates online and offline channels to provide a convenient and cohesive shopping experience. Their website offers a curated selection with personalized recommendations, while physical stores provide a luxurious ambiance, personalized service, and exclusive events.

Strategic store locations: Neiman Marcus stores are situated in affluent neighborhoods and premier shopping districts, catering to their target audience and reinforcing the brand’s association with luxury and exclusivity.

Partnerships and pop-up experiences: Collaborating with other luxury brands or hosting pop-up events in strategic locations allows Neiman Marcus to reach new audiences and create unique shopping experiences.

4. Promotion

Luxury storytelling and content marketing: Neiman Marcus invests in high-quality content through its “The Book” and online magazine, featuring fashion editorials, trend insights, and exclusive interviews. This positions them as a thought leader and tastemaker in the luxury space.

Targeted social media marketing: Utilizing platforms like Instagram and TikTok, Neiman Marcus showcases curated content, influencer collaborations, and behind-the-scenes glimpses, fostering brand awareness and engagement with a younger audience.

Personalized communication and targeted advertising: Leveraging customer data, Neiman Marcus personalizes email marketing, social media ads, and other promotional efforts, ensuring relevant and engaging communication with different customer segments.

Experiential marketing: Hosting in-store events, trunk shows, and exclusive experiences creates a sense of community, reinforces the brand’s association with luxury, and generates excitement and buzz.

By meticulously crafting each element of the marketing mix, Neiman Marcus cultivates a unique brand identity that resonates with their target audience. Their focus on premium quality, personalized experiences, strategic pricing, and omnichannel marketing allows them to maintain their position as a leader in the luxury retail landscape. "

Source: thebrandhopper.com

#mktmarketing4you#distributionchannels#HoshinPlanning#Leanmethods#marketing#M4Y#lovemarketing#IPAM#ipammarketingschool#Kanban#ContingencyPlanning#virtual#volunteering#project#Management#Economy#ConsumptionBehavior#BrandManagement#ProductManagement#Logistics#Lifecycle

#Brand#Neuromarketing#McKinseyMatrix#Breakevenanalysis#innovation#Facebook#icebergmodel#EdgarScheinsCultureModel#STARMethod #VRIO #7SFramework #gapanalysis #AIDAModel #SixLeadershipStyles #MintoPyramidPrinciple #StrategyDiamond #InternalRateofReturn #irr #BrandManagement #dripmodel #HoshinPlanning #XMatrix #backtobasics #BalancedScorecard #Product #ProductManagement #Logistics #Branding #freemium #businessmodel #business #4P #3C #BCG #SWOT #TOWS #EisenhowerMatrix #Study #marketingresearch #marketer #marketing manager #Painpoints #Pestel #ValueChain # VRIO #marketingmix

Thank you for following All about Marketing 4 You

Read the entire article at:

https://thebrandhopper.com/2024/02/18/marketing-strategy-and-marketing-mix-of-neiman-marcus/

[menandunderwear]

Have a look at the BlueJob Boxers from the French brand LeBeauTom! These boxer briefs have a simple yet efficient silhouette and are very comfortable to wear. They are made of medium-weight fabric and come with a lined, contoured pouch that provides good support. Additionally, they have no seams on the sides and back, which ensures a frictionless feel.

https://menandunderwear.com/shop/underwear/lebeautom-bluejob-boxers

[xplainthexmen]

In which Shadowcat gets a new miniseries; people don’t talk that way (but probably should); holograms are magic; the Helicarrier gets possessed; Wolverine fights a computer; and Miles and Al pitch live-action X-series.

X-PLAINED:

Possession

Shadowcat (Kitty Pryde) (more) (again)

Kitty Pryde: Agent of S.H.I.E.L.D. #1-3

A surprising helicopter

Frictionless bed sheets

S.H.I.E.L.D. vs. S.H.I.E.L.D. vs. S.H.I.E.L.D.

The word “obstreperous”

The nefarious doings of nasty transom peekers, envelope steamers, and door kickers

Larry Hama dialogue

Rigby Fallon

Yet another return of Ogūn

One way to get from the Brooklyn Bridge to a Helicarrier

Yet another fight on the astral plane

Wolverine vs. technology

The intrinsic power of life, I guess

Visibility of psychic powers

Live-action X pitches

NEXT EPISODE:

Death’s Head II!

Check out the visual companion to this episode on our blog!

Find us on iTunes or Stitcher!

Jay and Miles X-Plain the X-Men is 100% ad-free and listener supported. If you want to help support the podcast–and unlock more cool stuff–you can do that right here!

Buy rad swag at our TeePublic shop!

[firespirited]

Knee is healing ok, minimal bruising as usual because I just don't bruise more than green (even on blood thinners so I get nasty bumps and short of it being my head: not much to show for it). Wounds are still inflamed but that's just the immune system. I've been having to crop out a cut on my finger from photos that's been looking nasty for two weeks. It's just how that works.

R I C E: Rest, ice (heat actually, i don't do well with ice), compression, elevation worked well. There's some fluid but no friction or particularly strong pain when walking. Fluid removal is 'wait and see'.

My shoes have worn frictionless. Shoe shopping is going to be near impossible for multiple tl,dr reasons: catalogue and the small shoe shop in town won't work, I've been dreading this. But I have boots for this winter and hopefully will find a solution before spring. But hey this time last year I was wearing shoes for more than an hour for the first time. 😅😎

I'm really enjoying getting back into Stargate Atlantis: goldilocks brain zone for the moment. I know the day will come when finishing an episode will feel like a cringey chore or periods where I'm not bored per se but not immersed enough to summon the will but it's a great world to fall back to and have as sort of background for crafting with pauses in crafting for important bits.

The vaccine is slowly finishing up after 2 days fever and those ugh aches it's now just an itchy upper arm. I've felt less panicked talking to people, it's not a magic shield of course it's just a tiny thing that makes the world less lethal so yeah that feels massive.

Sis and I found someone had dumped about 60 brand new 9 day candles, we assumed they were survivalist (orange and yellow packaging) or cozy (they're low danger), thought about maybe decorating them and gifting them for xmas before remembering that this is catholic country, those are novena prayer candles and day of the saints was two weeks ago. 💀😬 That would have not been an appropriate gift.

So I got to play around with one: soy wax and the wick, glitter, mika, pastel chalk pigment and some shot glasses. It's low temp so you can use the microwave.

I feel confident I could whip up an emergency dried lavender flowers with essential oil in pale lilac shimmer soy candle in a jam jar if we needed an emergency present this holiday season. Last year got a little complicated because we didn't have the ingredients to do quick candies or baked goods as we don't have sugar in the house.

I'm getting overwhelmed again, need to go through the to do lists and cull what's just not realistic and break down tasks that seem too hard because they're not chopped into easier parts.

Hope everyone is doing ok, sending lots of love. 💜💜💜

[completeecommercesolution]

Payment Gateway Customization for Ecommerce: Enhancing the Checkout Experience

In the world of ecommerce, creating a seamless and secure checkout experience is crucial for maximizing conversions and customer satisfaction. One of the key components in achieving this goal is payment gateway customization. By tailoring your payment gateway to align with your brand and customer needs, you can significantly enhance the overall shopping experience and drive higher sales. In this article, we will explore the importance of payment gateway customization and how it can benefit your ecommerce business.

Why Payment Gateway Customization Matters

A payment gateway acts as the bridge between your online store and the financial institutions that handle transactions. It securely processes customer payments, verifies card details, and facilitates the transfer of funds. While payment gateways offer standard functionality out of the box, customizing them to reflect your brand's identity and align with your customers' expectations can make a world of difference. Here are a few reasons why payment gateway customization matters:

Branding and Trust

Customizing your payment gateway with your brand's logo, colors, and overall aesthetic creates a consistent brand experience throughout the customer journey. When customers see a familiar and visually cohesive payment page, it reinforces their trust in your brand and reduces the likelihood of cart abandonment.

Improved User Experience

By customizing the payment gateway, you can streamline the checkout process and make it more intuitive for your customers. Simplifying the steps, reducing the number of fields, and optimizing the layout can result in a frictionless experience. Furthermore, adding multiple payment options and supporting local currencies can cater to a broader customer base and increase conversion rates.

Enhanced Security

While the security of payment gateways is typically robust, customization can offer additional layers of protection. By implementing advanced fraud detection mechanisms, you can proactively identify and prevent suspicious transactions, safeguarding your business and customers from potential risks. Customization also allows you to comply with the latest security standards and regulations.

Integration and Scalability

Customizing your payment gateway ensures seamless integration with your ecommerce platform and other systems. It enables you to leverage advanced features and functionalities specific to your business needs. Additionally, a customized payment gateway can easily scale as your business grows, accommodating higher transaction volumes and expanding payment options without disrupting the customer experience.

Best Practices for Payment Gateway Customization

While the customization options may vary depending on the payment gateway provider you choose, here are some general best practices to consider:

Consistent Branding

Ensure that your payment gateway reflects your brand's visual identity, including logos, colors, fonts, and imagery. This consistency instills confidence in your customers and reinforces brand recognition at every stage of the checkout process.

Mobile Optimization

Given the significant growth in mobile commerce, optimizing your payment gateway for mobile devices is crucial. Responsive design, easy navigation, and mobile-friendly input fields will contribute to a seamless and user-friendly experience, regardless of the device used.

Clear and Concise Interface

Simplify the payment form by requesting only essential information. Long and complex forms can deter customers and increase cart abandonment rates. Additionally, provide clear instructions and error messages to guide users through the process and minimize any potential confusion.

Localized Payment Methods

Consider offering localized payment methods to cater to specific regions and countries. Providing options such as digital wallets, local bank transfers, or alternative payment providers can increase conversion rates by accommodating the preferences and habits of your target audience.

Seamless Checkout Integration

Ensure that the transition from your website or app to the payment gateway is seamless and visually consistent. Any inconsistencies or disruptions may raise concerns about security or authenticity, leading to a negative impact on customer trust.

Conclusion

Payment gateway customization plays a vital role in creating a positive and frictionless checkout experience for your customers. By aligning your payment gateway with your brand, optimizing the user interface, and integrating advanced security measures, you can enhance customer trust, increase conversions, and boost overall ecommerce success. Take advantage of the customization options provided by your payment gateway provider and implement best practices to unlock the full potential of your online business.

Click here to contact me on Fiverr

Source

[diginimbus39]

Mastering the Web: Elevating Your Brand with Professional Website Design Services.

In the corridors of the internet, where attention spans are fleeting and choices are abundant, your website stands as the digital face of your brand. In this dynamic landscape, the significance of professional website design services cannot be overstated. Beyond mere aesthetics, it's a meticulous blend of artistry, functionality, and user experience that transforms a digital space into an immersive journey. 

Let’s embark on a deeper exploration into the realm of professional website design, unveiling the intricacies that elevate a website from ordinary to extraordinary.

Crafting a Distinct Digital Identity:

Professional website design is an alchemy of creativity and strategy. It commences with a profound understanding of your brand essence. Talented designers delve into your brand story, its ethos, and values, translating these intangible elements into a visual language. Every color palette, typography choice, and imagery is meticulously curated to mirror your brand’s personality. The result is not just a website but a digital masterpiece that resonates with your audience on a profound level.

User Experience (UX) as the Cornerstone:

In professional website design, user experience (UX) stands as the cornerstone. It's more than intuitive navigation; it's immersive engagement. Expert designers meticulously map user journeys, studying behaviors to align interfaces with expectations. Strategic placement of interactive elements ensures engagement and a lasting impact. UX isn't just about guiding visitors; it's about immersing them in a seamless, memorable online journey. Crafted by professionals, websites become intuitive havens, inviting users into a world designed precisely for their needs and leaving a profound, lasting impression.

Mobile Excellence and Responsiveness:

The ubiquity of smartphones necessitates a mobile-first approach. Professional website design services prioritize responsive layouts, ensuring your website adapts flawlessly to diverse screen sizes. A seamless mobile experience not only enhances user satisfaction but also bolsters your search engine rankings, as search algorithms favor mobile-friendly websites.

Innovative Technologies for Immersive Experiences:

In the realm of professional website design, innovation pulses as its lifeblood. Embracing cutting-edge technologies such as AI-driven chatbots, immersive VR experiences, and dynamic animations, designers seamlessly integrate these innovations. The result? Static websites metamorphose into interactive domains, where visitors are captivated, and curiosity is ignited. It's beyond providing information; it's about crafting an unforgettable digital odyssey. With these transformative technologies at the helm, websites cease to be mere platforms; they become immersive adventures, inviting users to explore, engage, and embark on a digital journey unlike any other.

E-Commerce Solutions for Seamless Transactions:

In the landscape of e-commerce, professional website design services stand as indispensable pillars of success. These services craft intricately woven e-commerce platforms that guarantee not just seamless transactions but exceptional user experiences. Through secure transactions, streamlined product showcases, and frictionless checkouts, these platforms become the epitome of user convenience. 

Moreover, they offer personalized shopping experiences, tailor-made product recommendations, and swift payment gateways that elevate customer satisfaction to unparalleled heights. In this digital marketplace, where customer loyalty is paramount, these services play a pivotal role. They not only drive sales but also cultivate enduring brand loyalty, ensuring businesses thrive in the competitive realm of online commerce.

Performance Optimization and SEO Integration:

Beyond the visible, professional website designers optimize performance intricately. Images are compressed, codes are refined, and caching mechanisms are implemented for swift loading times. Moreover, SEO strategies are seamlessly woven into the fabric of the website. Keywords are strategically placed, meta descriptions are optimized, and the site structure is meticulously crafted. This meticulous approach ensures not only a seamless user experience but also higher visibility in search engine results, attracting organic traffic.

Continuous Enhancement through Data-Driven Insights:

A professionally designed website is not a static entity; it’s a living, breathing digital asset. Post-launch, the journey continues. Professional website design services encompass continuous monitoring and analysis. Metrics such as bounce rates, conversion rates, and user interactions are scrutinized. These data-driven insights empower businesses to make informed decisions, leading to iterative improvements and ensuring the website evolves in harmony with market trends and user expectations.

Conclusion: Mastering Your Digital Presence:

In the ever-evolving digital arena, your website is the linchpin of your online presence. Professional website design services offer not just a website but an experience—an experience that captivates, informs, and converts. By embracing the nuances of professional website design, businesses can transcend the ordinary, creating an online sanctuary where brands and audiences connect on a profound level. Mastering the web isn’t just a strategic move; it’s a transformative journey that elevates your brand into the digital echelons, ensuring it stands not just among the crowd but above it, leaving an indelible mark in the minds and hearts of visitors.Trust your digital presence to Diginimbus Digital Marketing Agency where innovation meets excellence.

[nickgerlich]

Here’s A Tip

It’s a distinctly American thing. It drives many Europeans nuts when they visit us, because they seldom if ever do it at home. And just the opposite occurs when we visit Europe, when we feel like we ought to do it, only to find out we don’t need to, and no one expects it anyway.

It’s called tipping, and we do it in some instances—like at full-service restaurants where the minimum wage is a resoundingly pathetic $2.13 per hour— to others like the hair stylist, valet, housekeeping, and others performing tasks for us, even though they are on regular wages. And what about the musician at your favorite bar whose music you enjoyed while quaffing your beverage?

But tipping culture has changed in recent years, thanks in large part to COVID, when we were explicitly encouraged to lend a hand to others less well-off than we. And now that a majority of places have user-facing payments capabilities, it is oh so easy easy for the shop to add another line to the transaction: Would you like to leave a tip?

Been to Starbucks lately? Now you can leave the barista a tip for performing his or her job. But it goes far beyond Starbucks, though. It is pervasive to the point of being annoying. While cities and states vary considerably regarding local minimum wages (which are above and beyond the federally-mandated $7.25 per hour), and with inflation still taking a bite out of our pocketbook, tips are seen as a way for consumers to voluntarily offset some of these pressures.

I get it.

Few people want to work minimum wage jobs. That helps explain the dearth of willing employees filling what we consider low- or non-skilled jobs. And I agree with everyone that being stuck in a minimum wage job sucks. I can’t even.

If we are to agree that the burden is upon each individual to gain marketable job skills, we can at least momentarily beg off on the tipping proposition. But gaining skills takes time, and while the long-run is easy to pontificate about, we must still live in the short-run.

Given that we know sales tend to be higher when people use plastic, it makes some sense to put the tipping option out there, if only because it is frictionless. Just add $2 to that cup of coffee. No big deal, because you did not have to dig into your wallet or purse.

I admit. I have never created gooey, sticky sweet concoctions like Starbucks baristas do. I am that guy who takes his coffee black, and his bagel toasted. It’s not that hard. On the other hand, having mastered lofty statistical and research methods earlier in life, I’m pretty sure I could learn how to do anything in the front-of-store in about—oh, I dunno—a couple of hours. Should I be tipped for knowing how to make someone’s self-indulgent venti of hedonism when it is just part of the job?

At the risk of sounding cheap and selfish, I must intervene and say I tip nonetheless for my basic coffee and bagel. Maybe it is because I feel fortunate. Maybe because I feel sympathy. But I certainly don’t feel guilt.

I’m OK with the new tipping culture, even though I think it is being abused in some places. If someone does something specifically for me, then I am happy to tip without hesitation. And in restaurants, where I consider the waitstaff to technically be in my temporary employ during my repast, I gladly leave 20-25%, depending on how well they attend to my wants and needs.

I don’t want to venture into the murky waters of so-called “living wages,” because that varies considerably by location. If tipping helps keep us out of more federal, state, or local wage mandates, then maybe tipping is a good thing.

But at the same time, I understand how all this tipping at the bottom end of the wage spectrum can cheapen things for others. Should we likewise tip everyone with whom we interact transactionally? You know, the Home Depot worker who answered your question, the sales associate at Dillards, the guy who installed your new tires? It can begin to trivialize the whole process, especially when the workers are simply doing their job. Like your professors. 

I’ll just leave this here.

Dr “Maybe I Should Put A Tip Jar On The Podium“ Gerlich (Just Kidding)

Audio Blog

[acceptccnow]

E-Commerce Merchant Account Trends: A Comprehensive Overview

Article by Jonathan Bomser | CEO | Accept-Credit-Cards-Now.com

Venture into the ever-changing sphere of E-Commerce Merchant Accounts, where trends ebb and flow, and staying ahead can redefine your business. E-commerce has become the pulse of countless enterprises, both titans and startups, and in today's whirlwind digital age, the ability to process credit card payments and execute seamless online transactions is the keystone of success.

DOWNLOAD THE E-COMMERCE MERCHANT ACCOUNT INFOGRAPHIC HERE

The Emergence of E-Commerce Merchant Accounts The days of cash ruling the domain are relics of the past. Today, the realm of payments is governed by the convenience of plastic. Adapting to the acceptance of credit cards for e-commerce is no longer optional; it's a prerequisite. In an era where online shopping reigns supreme, businesses must furnish their clientele with secure, user-friendly payment options. E-commerce payment processing serves as the epicenter of this transformation, ensuring transactions proceed effortlessly, providing a frictionless shopping experience for customers.

The Complexity of Payment Processing Merchant processing is a multifaceted endeavor, far from one-size-fits-all. Certain businesses are deemed high-risk, stemming from a myriad of factors including their industry or financial history. Such enterprises require bespoke payment processing solutions. High-risk merchant processing steps in to provide tailored services, adept at tackling the unique challenges faced by high-risk businesses. Whether your business operates within the CBD sector or champions credit repair, specialized high-risk payment processing solutions await.

The Structure of Merchant Accounts Merchant accounts form the bedrock of e-commerce. They provide the mechanism for processing credit card payments and securely handling transactions. The merchant processing landscape encompasses a spectrum of services, from credit card payment processing systems to payment gateways. These systems work diligently behind the scenes, ensuring that financial flows proceed seamlessly from the customer's account to the merchant's.

Sailing Through High-Risk Waters For businesses entrenched in sectors such as credit repair or the CBD industry, securing suitable payment processing solutions can be an uphill journey. High-risk credit card processing and finely-tuned payment gateways designed for these industries offer a lifeline. They deliver secure and reliable payment choices, empowering high-risk merchants to operate with assurance.

E-Commerce: An Expansive Horizon Merely accepting credit cards for e-commerce transactions marks the beginning of the journey. The world of online trade is ever-evolving, and merchant accounts must evolve to remain competitive and deliver a seamless shopping experience to customers. E-commerce gateway solutions are at the forefront of this transformation, providing businesses with the essential tools to thrive.

The Potency of Merchant Processing Services In the expanse of E-Commerce Merchant Accounts, not all services are created equal. Find a steadfast ally, one that specializes in delivering dependable, secure, and customized payment processing solutions. Tailored high-risk merchant accounts and e-commerce payment processing services that acknowledge the unique challenges you face are your partners in your journey to success.

In the realm of e-commerce, staying ahead entails embracing the latest trends in payment processing. E-Commerce Merchant Accounts are the lifeblood of online businesses, and understanding the ever-evolving landscape is pivotal for success. Whether you navigate a high-risk sector or simply aim to provide your customers with seamless payment options, the right merchant processing solutions can rewrite your narrative.

[tumovs]

IMAGINE, IT‘S 2030

You witness the Mars landing using extended reality, and step onto Mars alongside the first astronaut. Digital real estate, currencies and other assets are now commonly included in wills.

What will banks do in the #Metaverse?

The "Metaverse" is one of the key trends considered by many as complex and threatening, made worse by anxiety toward the unknown. #Experts assume that in five years from now, 25% of people will spend at least one hour a day in the Metaverse, for work, #shopping, #education, or #entertainment, while 70% of brands will have a presence in the Metaverse.

The reality is that ignoring this issue is no longer an option, but the good news is that there is still time. The Metaverse is still years away from being fully realized, but experts, #Wall_Street, #Big_Tech,

governments and brands believe it will become a multi trillion dollar opportunity by 2030. It will be the entry point to most online experiences, and will also underpin much of the physical world.

It is too big for financial institutions to ignore, and it presents a tremendous opportunity, as the technology and new digital habits will alter how people, especially GenZeders , the future consumers of financial services, interact with #businesses and each other in the #digital world.

Metaverse Meets Banking aims to guide you through the Metaverse, bringing you key concepts plus an understanding of the key trends and challenges that will shape banking through some relevant use cases with a focus on #financial institutions, preparing for more in-depth and broader individual discussions.

Having transformed dramatically over the past decades, #financialservices are at a crossroads in terms of what’s coming next. metaverse is definitely one of the options or (better) one of the bets. Let’s take a look.

Not that long ago banking was about vertically integrated silos. Fast forward to today and the rise of the platform economy powered by revolutionary concepts such as open banking and embedded finance (the first has democratized the flow of information whereas the latter has facilitated the integration of FS offerings in non-FS environments), have been reshaping financial services from the ground up.

The APIsation of the #economy is disrupting how financial products are created and distributed. Banking is becoming a commodity and the next round of competitive edge formation will go through finding ways for differentiation via:

1) immersive, frictionless customer experiences

2) strong hyper-personalization

3) open #data empowered by #technology.

Match this with the promise of the Metaverse to create a new (mixed) world on the basis of contextualized #experiences and it becomes clear why so much attention is put on something that today does not go far beyond popular video games played with VR headsets.

Metaverse is clearly a bet on the #future. Albeit with a strong case: not only is the contextualized experience potential a powerful #strategy differentiator but also no one can afford to lose the train in case the metaverse does prove to live up to the figures and scenarios being circulated.

Facebook (now Meta) has bet the entire future of the company on the metaverse, having thrown since 2019 about $36 billion at the project and with more spending yet to come. Meta is of course neither a FS player nor has it been successful in its strategy so far (it has shed ∼ 70% of its value this year alone), but we have to remember that the future of #finance goes far beyond core FS products and that metaverse (alone) cannot be blamed for Meta’s performance.

It is therefore not by accident that in banking the big players are the ones betting the most on metaverse: JP Morgan has opened a virtual lounge in Decentraland (a virtual world on blockchain), whereas HSBC partnered with The Sandbox, a leading decentralized gaming virtual world. Such players have the most to lose (but also the most to benefit from) in case metaverse does take off.

In a world with increasingly blurred industry boundaries, metaverse’s appeal is due to offering credible solutions to real, top imperatives:

1) mass customization

2) reimagine the customer experience

3) new ways to engage with customers

4) new offerings by mixing the online with the offline world and by bringing adjacent industries together.

Despite all the hype around it, metaverse will not change things overnight or tomorrow. But within a decade it might very well call the shots. Or not.

#tumovs #rtumovs #neobankers #wkw #wkwgroup #reinis #reinis_tumovs #bank #bankers #banking #neoverse #sm_art

[redshiftsinger]

The only people who want a frictionless social experience from you are people who only value you for your compliance, and to whom you're perfectly interchangeable with anyone else who will give them the same lack of inconvenience.

This isn't necessarily always malicious: when I go to the coffee shop, I would like a frictionless interaction with the barista wherein I place my coffee order, it's rung up correctly, I pay them the requisite amount of money and receive my coffee shortly thereafter. It's fine if there's a little friction sometimes (the register is messed up, they're out of an ingredient for what I want) but, y'know, I'm also not gonna be thinking about that barista all day, and it doesn't make a real difference to me who's working so long as they can perform their barista duties adequately and not cause weird problems. This is normal: not every interaction is going to be special. Sometimes frictionlessness is the primary goal of the type of interaction you're having. No one goes to the store hoping the cashier will engage them in a deep and meaningful conversation, that would be a very weird thing to expect.

But sometimes it's people who are actively and intentionally trying to take advantage of your willingness to bend yourself into whatever shape they demand. They may even take a perverse delight in giving you contradictory instructions just to keep you off-balance, telling you that you did something wrong by doing X today, and that you should have done Y instead, then when you do Y, berate you for not having done X or Z. And the more you habitually make yourself small and inobtrusive, the more vulnerable you are to this kind of person's manipulative and abusive bullshit.

The best defense is to cultivate an attitude not of willful rudeness, but of unapologetic willingness to stick up for your needs and the standard expectations that should be extended to you under the social contract. The barista should make your coffee order correctly -- if it's wrong, you're entitled to go back, point out the problem, and ask for it to be remade the way you ordered it. That's part of the social contract of making an order at a coffee shop. They expect to be paid and treated with basic courtesy, you expect to receive the coffee you paid for, not something else. This can be done politely, there's no need to scream and swear and berate them, THAT would be uncalled for and rude. But asking for your coffee to be remade when you ordered a peppermint mocha and got a caramel frappuchino instead (or whatever) because they messed up, is a normal and expected amount of friction for you to insert into their workday in that circumstance. If you're in a romantic relationship, you're allowed to assert your needs for things like emotional support, physical affection, etc. and to leave the relationship if the other party isn't able or willing to meet your needs. You deserve to be treated with respect and care by your friends and associates.

Know what the social contract entitles you to demand or ask for, and have no shame in asserting yourself in appropriate ways within those expectations.

i promise you that nobody has ever in their life thought "wow, this other person inserted absolutely zero friction into my life. they were so efficient and worked so hard to get out of my way. i love them for that." not EVER. not ever ever. if you sublimated your own personhood that hard they didn't even think of you at all. the people we remember in life are the people who got in our way a little, and broke up our routine, who asserted their perspective and gave us something new to think about or feel. that's how we form real relationships -- by inconveniencing one another and actually having a marked influence on one another's lives. to be loved is to be annoyed. and to be annoying at someone. and to be thankful, at the end of it all, that somebody broke you out of yourself for a moment and got in your way.

it's great to be considerate and obviously not every interaction is gonna be special, but you can't go through life as if every person is a cashier that you don't want to get mad at you for asking for an extra bag.

[mohammadalothman]

How AI Helps Supermarkets: Mohammad Alothman Explains

Supermarkets play a fundamental part of our day-to-day lives by offering essential goods to us. However, as scientific research develops, the nature of these stores is rapidly changing. 

AI is at the center of this change, as it revolutionizes the management of inventory, the handling of customers, and ultimately, how supermarkets maximize efficiency. Here, we explore some innovative ways in which AI is assisting supermarkets and how organizations like AI Tech Solutions are involved in this progress.

Revolutionizing Inventory Management

One of the biggest problems supermarkets need to manage is their inventory. This means maintaining a balance between ensuring enough stock on the shelves and avoiding overstocking. AI-driven inventory management systems are changing the game in this area.

Mohammad Alothman, founder of AI Tech Solutions explains:

"The power of analytics from AI is going to revolutionize how the supermarkets are approached and viewed on inventory management. It's not a game of numbers but rather creating a frictionless experience for business and its customers.”

AI is also transforming the way supermarket customers shop. The most visible application so far has been checkout systems powered by AI. These make use of computer vision and machine learning to identify items as they come to be placed in customers' carts so that payments are smooth.

Just consider "just walk out" technology. AI no longer requires an old-fashioned checkout line. Cameras and sensors track what the customer picks up, and payment will automatically be made through a mobile app. This saves time and makes the customer highly satisfied.

AI Tech Solutions is following this trend closely. Researchers are motivated by the rapid integration of AI in everyday tasks. As Mohammad Alothman explains:

"Technology in supermarkets is about more than efficiency; it's about enhancing human convenience and making shopping a more enjoyable experience."

Personalized Shopping Recommendations

Supermarkets are using AI to make shopping more personalized. Using customer data, an AI system can make product recommendations that are suited to individual preferences, like using loyalty programs by suggesting items based on previous purchases, dietary preferences, or current promotions.

This level of personalization benefits customers as well as supermarkets. Relevant suggestions are provided to customers, and supermarkets can make sales by pushing particular products.

Mohammad Alothman underscores this: "AI is helping supermarkets connect with customers at a personal level. It is not just a sale; it's about understanding the needs of individuals."

Store Layout Optimization

Supermarket layouts have a fundamental impact on the behavior of shoppers. AI uses data to optimize store layouts, strategically placing items to encourage purchases and improve traffic flow.

Heatmaps generated by AI systems may show which areas of the store get the most foot traffic. Based on this data, supermarkets can decide where to place high-demand items or promotional displays.

AI Tech Solutions has been keenly observing this trend in light of how their analysts research the impact store layout optimization has on sales and customer satisfaction. Their findings are key because they show how AI can redefine supermarkets for the needs of both customers and businesses.

Reducing Food Waste

Supermarkets have a significant problem with food waste. Sometimes, perishables are not sold before they go off-heap badly. AI is vital in solving this issue since AI can predict expiration dates and optimize the pricing strategy.

For example, dynamic pricing algorithms may reduce the price of the near-expiration date products to boost the sale of goods before they get spoiled. This not only minimizes waste but also helps regain costs.

Mohammad Alothman has advocated the use of AI for sustainability, commenting thus:

"By solving food waste, AI is not only helping business gain; it's making it good for the environment, too."

Better Supply Chain Management

AI is also improving supply chain management for supermarkets. From checking logistics in transport to forecasting any disruptions, AI ensures products arrive on time and in the right condition.

For instance, AI-powered sensors monitor temperatures and humidity to ensure perishables are kept in the right condition during shipment. This reduces spoilage, thus ensuring that customers get fresh goods.

Mohammad Alothman indicates that AI integration into a supply chain brings about better operation and enhanced consumer satisfaction.

Employee Productivity Enhancement

AI also saves the manpower of the supermarket. As an example of restocking alerts and automatic employee scheduling, which will make sure that employees are occupied in more critical tasks like serving customers.

Another example by which AI-powered robots scan shelves and inform inventory control to deliver out-of-stock products is being used more in the business. This process helps in quick restocking and reducing work burdens on the workers.

Mohammad Alothman further mentions this point:

"AI isn't here to replace human workers; it's here to empower them by handling repetitive tasks and allowing them to focus on creating a better customer experience."

The Future of AI in Grocery Stores

The impact of AI on grocery stores will only be the beginning. Potential future developments are as follows:

Voice-Powered Shopping Assistants: AI-driven voice assistants could lead customers to find specific items or suggest recipes based on available products.

AR Shopping: With AR, customers could see recipes or more information about origin even while shopping.

Green Initiatives: AI will help supermarkets achieve carbon neutrality with the use of energy and waste management.

AI Tech Solutions is researching in these potential avenues how such innovations could help shape the future of supermarkets. As Mohammad Alothman puts it:

"AI is not just a tool for the present; it's the foundation for the supermarkets of the future."

The integration of AI with supermarkets is an interesting journey full of opportunities to create efficiency, sustainability, and customer satisfaction. But how do you feel about these advancements? Do you see AI as a helpful companion in your shopping experience, or do you have some concerns about its expanding presence?

According to Mohammad Alothman, AI has the potential for positive utilization if appropriately implemented:

"AI in supermarkets is proof of how technology can serve humanity. It's all about making value, convenience, and sustainability for all."

Read More Articles-

Mohammad Alothman Discusses How Artificial Intelligence Helps Generate Realistic Images

Mohammad Alothman Speaks Out About The Rise Of AI In Celebrity Advertising

AI and Job Displacement: Expert Insights By Mohammad S A A Alothman’s

Exploring the Phenomenon of AI Companions With Mohammad Alothman

Mohammad Alothman Explains AI’s Alarming Prediction for Humanity’s Future

Mohammad-alothman-discusses-the-intersection-of-ai-and-creative-expression

Is AI Capable Of Thinking On Its Own? A Discussion With Mohammad Alothman

Mohammad S A A Alothman Explains AI’s Impact on Innovation

AI and Communication: A Journey Through Time with Mohammad S A A Alothman and AI Tech Solutions

Discussing The Regulation of AI with Mohammad S A A Alothman