PROFILE

Charles Dimov

Vice President of Marketing, OrderDynamics
Charles Dimov is Vice President of Marketing at OrderDynamics. Charles has 21+ years experience in Marketing, Sales and Management across various IT and Technology businesses. Previous roles include Chief of Staff, Director Product Marketing, Director Sales, and Category Manager. Charles has held roles in brand name firms like IBM, Ericsson, HP, ADP, and OrderDynamics. To learn more, visit: www.OrderDynamics.com
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  • Posted on: 04/23/2019

    Are secondhand sales the right branding move for Neiman Marcus?

    Definitely, Neiman Marcus is doing the right thing. Getting into secondhand selling means they are bringing in more aspirational customers. As noted, many of these consumer will graduate to buying the new Neiman Marcus goods. It is an excellent way to get more customers to focus on Neiman Marcus, even if they currently cannot afford the product categories. Plus it is positioning Neiman Marcus as a positive force in retail sustainability. This is going to become increasingly important to Millennial and Gen Z shoppers. Smart move Neiman Marcus!
  • Posted on: 04/08/2019

    Will Alexa earbuds advance Amazon’s virtual assistant ambitions?

    Why would any consumer want earbuds that are challenged with delivering "seamless Bluetooth connectivity working as a third-party developer with Google’s Android and Apple’s mobile operating systems." That is pretty much the smartphone universe these days, and it does not work particularly well with either. But it sells for a premium price. Ambitious - Yes. Likely to succeed - No. Amazon needs to work on the value proposition here -- and get the tech to work right. Consumers just aren't going to put up with it, for good reason.
  • Posted on: 04/04/2019

    Chrome extension shows Goodwill to shoppers, not to Amazon or Walmart

    This Chrome extension is a brilliant move. It can only help it boost sales. Very creative of Goodwill to think outside of the box... In terms of grabbing more market share and mindshare of shoppers. I can't see online retailers being in favor of the Goodwill Chrome extension.
  • Posted on: 04/01/2019

    Are third parties the biggest reason delivery costs keep going up?

    Definitely, using third parties (like last-mile delivery) is a cost and it impacts profitability. One of the best things retailers can do about this is market, advertise, and encourage shoppers to try out in-store pickup. Yes, omnichannel retail. It reduces the reliance on and cost of third-party delivery. It also grows store foot traffic -- which helps drive more sales. Push BOPIS (click and collect)!
  • Posted on: 03/29/2019

    The Apple Card is the best thing to happen to Apple since the iPhone

    Finally! WeChat has been doing much of this in the Chinese/Asian market, but it is great to see this finally coming to North America, Europe, Australia, and ROW markets. Yes definitely a game changer. I think the line about "not created by your bank" is going to resonate big time with customers. Banks and the financial industry are just not known for being customer friendly (forms, bureaucracy, hidden fees, charges, interest -- all the nasty stuff comes to mind). Well done on Apple's side. Now Google, we need something like this from you -- for those of us in Android mode.
  • Posted on: 03/28/2019

    Is Dick’s making the right move by bringing its software development in-house?

    After reviewing about a dozen research papers on this exact topic, I found no research to support that doing software development in-house for a retailer is a good idea. McKinsey & Oxford showed that 66 percent of these projects take on cost over-runs. 33 percent experienced schedule over-runs. 58 percent of large companies found their own project had content shortfall. Standish's CHAOS research (2015) found that 61 percent of these projects failed, or were seriously challenged. All told - not a wise choice. E-commerce is growing. Omnichannel is starting to take hold too. It is enticing for retailers to get their teams to just hack together solutions that are exactly customized to their needs. A better strategy is to use these resources to configure and customize existing best of breed technologies that are already developed. Perhaps listing new merchandise (a previously five day task) needed a new process to get it down to 30 minutes. Ultimately, do retailers want to become programmers? Or is it best to outsource the peripheral development, and stick to one's core capabilities and strengths?
  • Posted on: 03/27/2019

    Wayfair takes a bigger step into brick and mortar retailing

    Definitely, I think this is going to the be first of many. We have seen this time and again in the fashion space. An online-only retailer opening a brick-and-mortar store, then starting a rollout of more of them. A recent ICSC study pointed out that physical and online retail are complementary and both help each other. For Wayfair, the big opportunity is to leverage omnichannel retailing to reduce returns, and give customers a great experience with their furniture. That makes it easier for them to buy (lowers the risk), and gets them to come back for more. Adding physical stores is a challenge for many online retailers. It is a whole new world of logistics. It is a learning curve that Wayfair will go through. But it is also an excellent step in the right direction for Wayfair. Welcome to the world of omnichannel retailing!
  • Posted on: 03/25/2019

    Is there anything special about specialty retail?

    Specialty retail is no more or less immune to disruptions from online, omnichannel selling, or other innovations than any other retail vertical. They do have an opportunity, as specialty retailers are often thought to have closer relations with their customer base. However, if specialty retail does not innovate and evolve with the times, then it too risks being left behind. For the good of the industry, we don't want any sectors or retailers to be left behind.
  • Posted on: 03/21/2019

    Do furniture retailers need a new approach in the digital age?

    You nailed it Mark. Even with AR/VR - most customers will still want to touch, feel, and jump onto a bed/sofa. It's one area where homefield advantage is the physical store. Not to suggest that furniture retailers can rest on this... but it is an advantage that most other retailers don't have.
  • Posted on: 03/21/2019

    Crowdsourcing can enable retailers to scale more quickly

    Crowdsourcing ideas and opinions is brilliant. You have to be wary to avoid creating the next Edsel (disaster car built from crowdsourced ideas). But when used well, the "wisdom of the crowd" can be astonishing. Besides all this, retailers need to be in tune with their customers, so really should be crowdsourcing ideas and opinions constantly. The biggest obstacle is trying to get serious engagement. Generally, you will have to pay for this (prizes, fees, etc). However, even when the customer engages, it is a matter of crafting questions carefully such that they do answer honestly - and are paying attention (not just trying to get to the end quickly to claim the prize). No different than standard research challenges.
  • Posted on: 03/21/2019

    Can Instagrammable moments turn into immediate and direct sales?

    Very exciting news for all retailers. This opens up a new channel opportunity that has been used widely for marketing, but under-used for retail sales. Scanning over 2,000 retailers around the world (Omni-2000 research), 87.5 percent are present on Instagram (marketing), but only 14 percent made it shopable (sales). The challenge is to shift into selling mode without feeling too pushy. If customers feel you are getting pushy, or overly salesy then they will drop out and go to your competitors. The exciting part is that this helps diversify your own sales channels. It really emphasizes the importance of omnichannel retailing (you better be on it). I will be interested to see if this puts a dent in the Amazon online marketplace.
  • Posted on: 03/19/2019

    Are Amazon’s private labels falling short or just getting started?

    Amazon has the advantage of vast amounts of data to crunch through to optimize and perfect products to consumer desires/demand. As long as they are determined to get it right, tenacity and continually evolving their product to the customers' tastes will ultimately win out. Amazon sticks to its long term goals well. It adapts, changes and evolves well. It is a key point that we are all well-advised to adopt.
  • Posted on: 03/19/2019

    Can Walmart lead the fight to eliminate plastic waste?

    Great to see that Walmart is continuing to promote its GigaTon project. It is good for all of us, and there is growing concern about the environment. It is safe to say that customers who have a choice between an environmentally-friendly product and an equal product that misses the mark, will choose the eco-friendly product. Don't forget that there is an opportunity to charge a small premium for customers to do the right thing. Most consumers would be willing to pay that little extra to feel good about their choices. Overall, whether the costs are offset depends on the details, and how widely adopted the product, packaging, and waste reducing concept is.
  • Posted on: 03/18/2019

    Can location intelligence provide a lifeline for retailers?

    There are definitely serious concerns among consumers about geo-location. A great example was Fitbits sending public location data on the exercise routines of soldiers. But for most consumers the key will be to offer the opportunity to EASILY turn it on and off. There can be a tremendous ROI if the tech can provide in-store locational data (using beacons). This rich data tells store managers exactly where the sweet spots are in their store -- where customers linger, where customer pick up the most items and where they give in to impulse shopping. Sounds like an easy ROI to me! Especially if you are selling the key end-cap locations to brands.
  • Posted on: 03/15/2019

    Will Walmart’s new tablet burn into Amazon Fire’s market share?

    Walmart is in full experimentation mode. This is both a major step forward compared to the sleeping bear they were five years ago, and refreshing. If it ends up being profitable, then I expect they will start developing more ONN brand tech products. No. It's not going to have an impact on Amazon's sales in the first few months. It might not even have an impact in the first year... UNLESS Walmart does something Amazing (major price advantage, special super promo, major advertising, etc.). But if it takes off, then I expect in the long run (between two and four years), it will start to erode Amazon's sales.

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