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Cashback News – Sept 21: Jabong, loyalty programs, Nordstrom, Boston Retail Partners, China ecommerce, Myntra…

Cashback News – Sept 21: Jabong, loyalty programs, Nordstrom, Boston Retail Partners, China ecommerce, Myntra… admin

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We’re covering a mix of retail news today. In India, Jabong struggles for growth and profits in an ultra competitive SE Asian market. A Boston Retail Partners research report looks at the impact of technology and consumer shopping habits on retail loyalty programs. Nordstrom continues building an aggressive mobile strategy.

A new Deloittes study estimates online research, including mobile, will impact more than 64% of purchases in the 2015 Christmas shopping season though consumers are not expected to spend more this year. The Chinese stock market may be troubled but e-commerce is expected to grow 42% according to eMarketer. The CEO of online fashion retailer Myntra, Ananth Narayanan, expects the  Indian e-commerce market to reach $70 billion by 2020.

Jabong’s growth rate halved in Q2

Jabong, one of the two large fashion e-tailers in the country besides Flipkart-controlled Myntra, saw its net revenue growth slipping to 18.5 per cent in the second quarter ended June 30, 2015 over the year-ago period against a robust 35.9 per cent rise in Q1 and a staggering 135.7 per cent growth in 2014 as a calendar year. Its sequential quarterly growth was pegged at just 6 per cent. GMV growth in Q2 was 30.7 per cent, but this again almost halved compared with a much swifter 54 per cent rise in the three months ended March 31, 2015. Read more…

Two in three retailers increase their loyalty budgets

Loyalty programsRetailers now recognize the need to evolve their loyalty programmes to satisfy today’s savvy, tech-enabled customer, and most are increasing their budgets for loyalty initiatives, according to a report by Boston Retail Partners (BRP).

The report, entitled ‘Loyalty programmes: Rewarding the Customer Experience’, addresses how consumers’ behaviours and shopping habits have evolved through new technology and expanded channel offerings. This shift requires loyalty programmes to go above and beyond the traditional “earn points and receive rewards” structure to play a key role in enabling the unified commerce experience and reinforcing customer relationships. Read more…

Nordstrom President Announces Aggressive Mobile Enhancement Strategy

nordstromFor the past decade, Nordstrom has been aggressively investing in technology meant to provide customers with a seamless shopping experience. Nordstrom has made large investments in a perpetual inventory system that enabled the company to target the multi-channel shopper as far back as 2002. Last month, co-president Blake Nordstrom indicated that the company is adapting its investment strategy based on consumer trends. Read more…

Digital channels will influence 64% of holiday purchases

Consumers will go online, via computers and mobile devices, a lot more this holiday season to research purchases, but then only buy a little more than last year, according to Deloittes annual retail holiday sales forecast. Were expecting a fairly modest holiday season, says Rod Sides, vice chairman of Deloitte LLP and retailer and distribution sector leader. Digital interactions will influence 64%, or $434 billion, of retail store sales this holiday season, up from influencing 50%, in 2014, according to Deloitte. Read more…

China Economic Savior? Might Be E-Commerce BABA, JD, VIPS

China’s economy is still ailing, but its e-commerce sector continues to shine and serve as a major driver of the country’s economic growth, said an eMarketer report Friday. EMarketer estimates that retail e-commerce sales, excluding travel and tickets to events, will rise 42.1% to $672.01 billion this year, making China by far the world’s top e-commerce market. China will account for just over 40% of the world’s e-tail sales this year, eMarketer says. Read more…

By 2020, E-commerce market will be about $70 billion

The e-commerce market in the country will be about USD 70 billion by 2020 and players will be investing around USD 1-2 billion over the next few years, largely in tier II cities and towns, a top official of Myntra confirmed at the recently held Economist India Summit, as reported by PTI.

He said the e-commerce market will be high on growth, which will help Myntra become profitable in segments, including fashion and grow at about 65-70 per cent. Read more…

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