Great Ideas From Crocsideas
Friday, October 15, 2010 at 11:15AM
Outstanding Business Digest recently quoted Charlie Munger as saying “Go where the competition is low.”
Most readers of this blog know we have a significant position in Crocs (CROX). Search for Crocs on our blog, and you can read all our posts about it.
One of the many things that fascinate me about the company is that it has a website called crocsideas.com. Crocsideas.com is a treasure trove for Crocs investors because on this site, the company asks customers to submit new ideas and also to rate new styles coming out soon.
I have a funny feeling that not many Crocs investors go on the site. This is how we get our hands dirty with this site: we go on there as a customer and investor and we analyze new products. We promote and demote new styles, and, more importantly, we read other customers’ reviews and try to find out what makes customers go bananas over Crocs.
We do the same thing when we look at the best sellers in shoes on Amazon.com.
Investing in a consumer goods company has a lot to do with figuring out its customers. In fact, investing in any company has a lot to do with figuring out the customers. You know you’ve found something good when the customer is delighted out of his or her mind.
Our investigation reveals that in Crocs’s case, the customer is having a great experience.
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