These days, many companies tout their customer service as nothing but excellent. But when you have to make use of their return policy, you soon find out if they meet you at eye level – or if they see your query as a nuisance that shrinks their profit margin.
Thriftiness is deeply entrenched in the German culture. Privately (and on state level, too), many people keep a nest egg in the bank or at home – you just never know when your washing machine has done its final load or if your car lets you down on your way to Tuscany. This German habit of saving money is often criticized internationally with regard to the world economy, and it has birthed the exhibition “Saving – History of a Germany Virtue” at the German Historical Museum in Berlin. But even though Germans like to keep their money close, there is one area they are continuously generous in, and that is donating.
It doesn’t come as a surprise that the retail sector is still suffering from sales losses due to online giants such as Amazon. In the US alone, Amazon recorded more than 94.7 billion online sales – that is 70% of its total revenue, according to eMarketer. Chris Anderson explains in his book “The Long Tail” what those figures mean for the retail sector: it is about time for retail to move away from the classic model of selling only a small number of products and moving toward a system of billions of niche products. Anderson describes the future of retail as “selling less of more.”
“When the number of STEM professionals (science, technology, engineering, mathematics) grows, then the innovation strength of the heavily export-oriented German economy will increase, too.” That is the core statement of the report “STEM and the Business Model Germany,” published by the German Economic Institute.
Businesses and brands don’t tire of touting their sustainability projects when they want to shine a light on their resource-efficient, future-oriented, and socially responsible companies. Often, they feature in industry magazines which describe in impressive detail why company X won sustainability award Y or certificate Z. Those articles tend to be accompanied by impressive photographs of those glamorous award nights.
After Mark Zuckerberg’s appearance before the US Congress for Facebook’s data-mining practices, one could say that the European Union has its finger on the pulse: As of 25 May 2018, the EU’s General Data Protection Regulation (GDPR) will come into effect. You might have heard about it in the news recently. But do you know in detail what the GDPR is about and how it may impact your business?