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Retailers Find Pandemic Success In Livestreaming E-Commerce
In Best Of, Entertainment, Featured, Guest, Interview, Latest, News Stories, Technology, The World, Top NewsBy Neil A. Carousso
NEW YORK (WCBS 880) — Livestreaming e-commerce is the new hot trend that is changing the way retailers sell now and it’s leading to profitability for some business owners who had been struggling to survive.
“They can sort of take consumers inside their brand,” said NTWRK president Moksha Fitzgibbons on the WCBS Small Business Spotlight, sponsored by BNB Bank.
He told Joe Connolly and Neil A. Carousso that his video app became a marketplace for retailers small and large to become what “Shark Tank” investor and FUBU founder Daymond John called a virtual “events space” on WCBS 880.
“NTWRK became, really emerged, as that place that consumers can go every day to be entertained, to be educated and get access to that highly desired product,” Fitzgibbons said.
The startup doubled its sales from March to April and he expects growth of 600-700 percent year-over-year after seeing the value of connecting brands with willing buyers that purchase products on the NTWRK app as they watch and interact with owners and influencers live.
NTWRK was founded in 2018. Fitzgibbons joined the company in October 2019 after a couple stints at Complex Networks where he served as chief revenue officer before moving to Valence Media as CRO where he played an integral role in the merger of Media Rights Capital, Dick Clark Productions, The Hollywood Reporter and Billboard.
“Millennials have the most wealth of any generation before them, they aren’t embracing more expensive responsibilities like home ownership and things of that nature, so they’re spending on consumer products, and we’re connecting with them in a medium that’s endemic to them,” said Fitzgibbons.
It’s not only a pandemic pivot, but also a way to grow a retail business – an industry that’s been battered by the growing convenience of e-commerce, the health crisis and recession.
Fitzgibbons, who will lend his expertise to business owners of various industries on the WCBS BNB Bank Virtual Business Breakfast on Thursday, October 15, told Connolly and Carousso about how one Manhattan designer, Jeff Staple, has benefited from using NTWRK the past six months.
“What we offer him is an opportunity for him to reach a massive audience outside of New York City, which is his core, and introduce the brand to new consumers and ultimately drive new revenues for him,” he said.
This speaks to customer behavior over the past decade that’s been accelerated by the coronavirus pandemic and its related retail shutdowns. Fitzgibbons told WCBS 880 he saw engagement with younger customers, who are willing to spend, increase since March. He believes that could be credited to how customers have been trained subconsciously to buy necessities on e-commerce websites like Amazon for convenience rather than go to the store.
“The same will be true with NTWRK, although, we will be curated and have a point of view and sort of be that Barneys/Dover Street-type of experience for this demographic,” he said.
Business owners are encouraged to make their own video content out of their home or store, but NTWRK also offers a video production team and a studio where they collaborate with social media influencers and celebrities to endorse products on a livestream that is watched by prospective customers whom the video app service finds for the retailer.
Moksha Fitzgibbons will share how any business owner can earn a substantial return on investment through livestream e-commerce at the WCBS BNB Bank Virtual Business Breakfast on Thursday, October 15 at 9 AM. Share your questions for Moksha, Joe Connolly and the panel by leaving a message on our listener line at (877) 987-WCBS, and follow the prompts, and we may use your question during the event.
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Week In Sound: 11th Hour School Reversals Spark Parental Outrage
NEW YORK (WCBS 880) — New York City Mayor Bill de Blasio and the Department of Education changed guidance on reopening schools every day this week causing outrage among parents and teachers.
https://omny.fm/shows/880-weekly-rewind/week-in-sound-11th-hour-school-reversals-spark-par
Neil A. Carousso produced the Week In Sound as heard on WCBS Newsradio 880 for the week ending Friday, September 18, 2020. Hear it on the media player above.
You can listen to The 880 Weekly Rewind with Lynda Lopez Friday nights at 7 PM ET for a deeper dive into the top local, national and international stories of the week, featuring interviews with newsmakers and the Week/Month In Sound audio file.
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Business Leaders Urge Officials To Clean Up NYC For Economic Recovery
By Neil A. Carousso
NEW YORK (WCBS 880) — Business leaders say they need New York City’s quality of life to be improved and rent relief in order to recover and create new jobs.
“We have to have people on one page, feeling that the city is coming back (and) we’re not going back to the bad old ’70s,” said Kathryn S. Wylde, president and chief executive officer of the Partnership for New York City.
She spoke with Joe Connolly and Neil A. Carousso on the WCBS Small Business Spotlight, sponsored by BNB Bank, after the nonprofit organization wrote a letter to New York City Mayor Bill de Blasio, copying New York Governor Andrew Cuomo, City Council Speaker Corey Johnson and City Comptroller Scott Stringer, calling on them to improve “quality of life” in the Big Apple. More than 160 business leaders signed the letter, including the heads of the local Chambers of Commerce and executives from Citigroup, MasterCard, Nasdaq, Goldman Sachs and Macy’s.
“There is widespread anxiety over public safety, cleanliness and other quality of life issues that are contributing to deteriorating conditions in commercial districts and neighborhoods across the five boroughs,” the letter dated September 10, 2020 reads.
They say rising crime and anxiety over public health are fueling low consumer confidence and uncertainty. The business leaders say they need the government’s assistance to fix the issues that will encourage their workers that they can return safely.
“From a business community standpoint, we believe that’s the first step to economic recovery, because that’s the feedback we’re getting,” Wylde told WCBS 880.
The lifeblood of the city is mass transit, she said, emphasizing that workers will not return to the office until the MTA’s problems are solved. It is currently in a budget crisis, accelerated by record low ridership. MTA Chairman Pat Foye claims the agency needs $12 billion to fill the hole.
“The city will not come back to life, and this is all five boroughs, until trust in mass transit is restored and that’s going to take continued funding,” she said.
Among the Partnership for New York City’s priorities are improving mass transit and infrastructure. She has heard from commuters who are not confident in its cleanliness and reliability.
Only 26 percent of employees are believe they will return to the office by the end of the year, as of mid-August; that’s down from an expectation of 33 percent in May, according to the Partnership for New York City, which surveys workers.
But, some businesses will not return either. Commercial rent has consistently risen over the past decade of economic prosperity, but now, there are no businesses willing to take over a high rent lease.
“This was the crisis that we were facing for the last couple of years before the COVID, because of the inflated values and because of the very high real estate taxes in New York, which get passed along to tenants,” Wylde told Connolly and Carousso, noting, “A third of your rent is just to pay real estate taxes.”
She said costs must come down to spur growth and attract new businesses to the city as the jobs for the future are being developed now.
Hear about new job creation, resilient industries and New York City’s recovery plan from business leaders on the WCBS Small Business Spotlight Podcast on the RADIO.COM app or on the media player above.
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Week In Sound: NYC Indoor Dining Returns, Schools Unprepared, and Why We Will Never Forget
NEW YORK (WCBS 880) — New York Governor Andrew Cuomo announced New York City restaurants can open their dining rooms on September 30, some teachers return to the classroom to find horrid conditions, including poor ventilation and remote learning problems, and the nation reflects and remembers the 19th anniversary of the September 11, 2001 terrorist attacks that killed 2,977 people with survivors still suffering from health issues and PTSD today.
https://omny.fm/shows/880-weekly-rewind/week-in-sound-nyc-indoor-dining-returns-schools-un
Neil A. Carousso produced the Week In Sound as heard on WCBS Newsradio 880 for the week ending Friday, September 11, 2020. Hear it on the media player above.
You can listen to The 880 Weekly Rewind with Lynda Lopez Friday nights at 7 PM ET for a deeper dive into the top local, national and international stories of the week, featuring interviews with newsmakers and the Week/Month In Sound audio file.
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Downtown Brooklyn Looks to Attract Top Talent in a Post-Pandemic World
By Neil A. Carousso
NEW YORK (WCBS 880) — In an eerily quiet dark age of New York City, which was the epicenter of the coronavirus pandemic in March and April, economic development groups see the light at the end of the tunnel as they reimagine and prepare for the post-pandemic workplace.
Regina Myer is the president of the Downtown Brooklyn Partnership, which sees an opportunity to become an innovation hub by attracting talented young professionals who live in walking distance to the growing number of technology, manufacturing and media companies.
“We’re studying specific streets among Fulton Street, Livingston and Willoughby to see how we can really make those environments more pedestrian friendly,” she said.
She told Joe Connolly and Neil A. Carousso on the WCBS Small Business Spotlight, sponsored by BNB Bank, about her experience leading the Brooklyn Bridge Park for a decade in which she spearheaded the joint initiative with the City to develop Willoughby Square Park that is set to open in 2022. A portion of the 1.15-acre green space opened last year in Downtown Brooklyn; some workplaces there feature individual air conditioning units, which are essential in the COVID-19 era.
“I want to do the same thing here in Downtown,” she said.
Myer told WCBS 880 “shared streets” create space for workers, cyclists and pedestrians and improve the quality of life. She believes that sparks better business practices. The Downtown Brooklyn Partnership developed their blueprint from the model of major cities, including Pittsburgh, Seattle and Barcelona.
“We want amenities that enhance our businesses like outdoor seating, we want it to be very clean, and people feel comfortable,” she said.
Myer was the senior vice president for planning and design at the Hudson Yards Development Corporation, which counts HBO, SAP, BlackRock, Wells Fargo, and Neiman Marcus among its tenants.
But the difference between Manhattan and Downtown Brooklyn, she said, is that the outer borough relies on foot traffic from locals. Employers find their workers live nearby rather than commuting from the suburbs.
“When companies decide to locate in Downtown Brooklyn, they know they are accessing a tremendous amount of talent from throughout the borough,” said Myer.
Foot traffic is key for Downtown Brooklyn businesses to thrive, and right now, survive. Myer told Connolly and Carousso foot traffic is down 50 percent on weekdays, and is 20 percent higher on weekends due to tourist activity that ticked up this summer since the transmission rate of COVID-19 reached pandemic lows in New York City.
She believes a coronavirus vaccine and therapeutics are the answer for consumer confidence.
“I want to open, too,” Myer responded to the fact that most business groups, including the Chamber of Commerce, are demanding a full reopening as businesses close with tens of millions of Americans unemployed.
“I just know that people have to feel comfortable doing so,” she added.
Citing efficiency in remote work, Myer sees companies will usher in a new age of economic growth, and is encouraging businesses to consider locating in Downtown Brooklyn.
Hear about the opportunity Regina Myer sees for Downtown Brooklyn to lead in the local economic recovery and attract growing new businesses, plus new ways to sell your product or service on the WCBS Small Business Spotlight Podcast on the RADIO.COM app or on the media player above.
