Get ready for Destination X Win travelers trust and loyalty in the post-booking ancillary game

| April 10, 2019

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The market for travel activities is set to reach $183 billion by 2020. Are travelers prepared as they arrive in Destination X? Are their ancillary needs met? Through a global study, we have identified eight must-know key trends which highlights the challenges and opportunities in the post-booking ancillary game.

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Detroit Venture Partners

We’re a Detroit-based Venture Capital firm on a crazed mission. We back seed and early-stage technology companies who have a purpose.Our purpose is to help rebuild the Detroit area through entrepreneurial fire. We view business building as a palate for creative expression and an opportunity to make a difference and change the world. If not, why bother?

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How E-Commerce Inventory Management Can Help You Save Money

Article | April 8, 2020

E-commerce platforms are no longer secondary to that of brick-and-mortar stores. In fact, having an e-commerce platform is crucial to ensure business success today. The numbers don’t lie. Global retail e-commerce sales totaled over $3.5 billion in 2019. The value of the market is rising year on year. Running an online store can be a lucrative exercise if you get the vital processes correct. One such process is your inventory management. At heart, e-commerce is simple. You showcase a range of products online, customers find and buy what they want, and then you deliver. What’s critical, then, is that you have the items you advertise and can get them where they need to go. That’s why getting your inventory management right is essential.

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What Our Community Expects Today from the Future of Retail

Article | April 6, 2020

Attendees and speakers of PSFK's World Retail Innovation Week expect a “great reset” in attitudes, morals and behavior, both on a personal and corporate level Last week, we ran an e-festival with over 100 talks across different topics related to innovation in retail, along the customer experience journey and beyond. For many attendees and the speakers themselves the talks provided moments where they could both focus on the future and deal with today. With speakers from brands, retailers, solutions providers, tech firms and consultants, what did the audience really learn about the future at World Retail Innovation Week? We ran lunchtime town-hall sessions each day to hear from the professionals attending WRIW events and they told us about a number of themes that they believe will drive retailers,

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How Retailers Can Handle an Influx of Store Traffic

Article | February 26, 2020

Amazon.com, Etsy, eBay these are just a few of the top grossing online merchandise sites, dedicated to making the consumer’s retail experience easier than ever. Amazon boasts its two-day shipping guarantee for Prime members, while Etsy caters to the entrepreneurial spirit of the buyer who wants their goods completely customized and unique. In theory, these sites are ideal for the busy American worker, who finds convenience and ease when shopping from the comfort of their living room. But is it enough? Do consumers really prefer shopping online? According to the numbers, the answer is surprisingly no. A recent TimeTrade study found that more than 70 percent of consumers prefer to shop at a brick-and-mortar store over Amazon. In addition, another study conducted by First Insight found that both men and women tend to spend more money in stores compared to purchases made online.

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How field research can help retailers reach untapped sales opportunities

Article | April 20, 2020

When you think of field research, you might think of an archeologist bent over a dig site investigating civilizations from the past, excavating the terrain and sifting out important artifacts. In marketing, field research is also about the study of the human experience and uncovering those important pieces of knowledge — but as they pertain to your business. Field research can give you insights into your customers' pain points, what they need to solve their problems, their thoughts on how your product helps or even what where they feel your services might be improved.

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Spotlight

Detroit Venture Partners

We’re a Detroit-based Venture Capital firm on a crazed mission. We back seed and early-stage technology companies who have a purpose.Our purpose is to help rebuild the Detroit area through entrepreneurial fire. We view business building as a palate for creative expression and an opportunity to make a difference and change the world. If not, why bother?

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