How much revenue $ as an information mining system does SYW make?
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Eddie loans money to sears from seritage, sears pays a lot of that to SYW (sears and Kmart have to pay SYW for the points they use) sears goes bankrupt, Eddie hopes SYW will be sellabale which it won’t. SHC goes bankrupt including SYW, Eddie gets his money back with interest (though his bet on SYW fails because Eddie is not that smart)
@UPTQyw4-cpq Doesn't cost anything they why when I do the cash reports everyday it shows a charge of around $1500 in redeemed points from the pervious day that my store gets charged for.
If they are making money they would have bragged about it.
The reality is that they spent so much money giving away in points and expected to attract more shoppers is not happening. What they attracted are shoppers who know how to game the system by using points to get free/almost free stuff without buying anything that would make Sears profitable. Consumer who wanted good price don't shop at SYW mainly because they don't want to deal with points and coupon. I don't shop at SYW because I can make them losing money on every transaction.
Leena loved to say that giving away points, coupon, does not cost Sears any money. Coupon is supposed to be given out by the manufacturers to promote their products. If she knew anything about retail business she would not have said or done that. She is Eddie most trusted person in the organization. Most Sears employees thought she is just a charlatan without Eddie she would not be in her job that long.
SYW does not make any money but that is OK for Eddie since he wants to create an online shopping site that he can sell, like jet.com, to someone down the road. I doubt that it will happen.
Ask yourself one question, what is SYW? exactly, the public think that too which is why it will fail along with sears and kmart
I work at SYW, our file is junk. If it was so hot we would be shouting about it, we don’t for a reason.
Don't forget that there are a lot of accounts of customers who are "real" but no longer shop at Sears or Kmart and want nothing to do with either store, so they are "inactive". Ouch. The active SYW member base is shrinking as each day goes by and as each store closes. Ever wonder why SHC never wants to reveal how "successful" their SYW program is whenever approached by the media or by Wall Street analysts?
They don't want to divulge the cold, hard numbers on SYW because the real fact is that SYW isn't able to do well if the two retailers carrying the program are dying. How is it possible that SYW is performing well if the parent company is in trouble? It is not. SYW is not very valuable. The concept of the program might be but the data is not as valuable as Eddie once thought.
Potential buyers are going to be looking into all of that. They will want to know how many members are "active" compared to the entirety of members in the database. If SHC execs or Eddie chooses falsifies this information then they could get sued or even go to prison on fraud charges.
It is worthless.I would be willing to bet that well over 50% are fake names,phone numbers and email accounts.The only way people can keep up with their metrics is by doing so.Stupid concept...your are not a customer,you are a member.
How much revenue $ as an information mining system does SYW make?
$000,000,000,000,000.28
How do you make money when you give away profits
Management does not provide details on SYW.