Awesome post Nkem! I certainly don’t question the ASOS value for customers as they provides a huge selection of fashion items, usually at an affordable price, and with generous shipping & handling terms. I do wonder though, if ASOS’s policy on shipping is too favorable for customers. As 100% of its sales happen online, does ASOS experience higher return rates than a traditional retailer? Especially since the threshold for a free order is only £15, customers may order single items on a whim, at different times, rack up shipping/logistics/inventory charges for ASOS, and then the decision to return them is made so simple. I wonder what kinds of economics/pricing tests have been run on these policies and what the incremental impact of raising minimum order sizes would be for ASOS’s business model.
Awesome read Tina! It’s extraordinary how Venmo has grown over the past few years and how as you said, has become a verb synonymous with paying people back. I do wonder about its future through. I see Apple Pay and Google Wallet as considerable threats as they hold the capital to scale and have consumer trust already on their side. Plus, I wonder if people are growing a bit more cautious about making payments to friends a social experience, as some people may value privacy more than convenience or the social factor.
Very interesting read Jeremy! I also had the same concern as Alice above – how engaged can you keep employees if they are being held accountable remotely? I wonder if there are any mechanisms to keep employees honest or perhaps a monetary incentive to make sure people are meeting their goals. Another thought I had is on the sustainability of Retrofit’s business. You’re right, I feel like missing the boat on millennials will be a huge risk. There are tons of weight loss/health mobile apps already live, so Retrofit will have to bring some sort of significant competitive edge for when they ultimately do launch an app. Thanks for your post!