Ecommerce News: Innovative Online Retail

JVM — Mon, 28 Sep 2009 07:34:00 GMT

ShopVisible tries hard to keep up with the latest buzz in Ecommerce news and address relevant content for its merchant base and other interested Ecommerce enthusiasts. Recently the CEO of Macy's addressed a retail conference in Las Vegas to highlight the importance of multichannel integration, a specialty of ShopVisible's Ecommerce solution.

Macy's CEO Terry Lundgren notes that "the power of Ecommerce extends far beyond the keyboard and onto the sales floor..." The company's new web presence encourages shoppers and browsers to offer up their own relevant content in the form of reviews and recommendations. Lundgren states that he was "worried about what customers would say on product reviews. We realized that if you start getting bad reviews on a product, get rid of that product. Stop doing business with that particular product."

Hubbies Smith of the Las Vegas Review-Journal shows that "Macys.com generated $30,000 in sales the first year...in 1996. Online sales now bring in about $1 billion in annual revenue...Through August, online sales increased 13 percent from a year ago..." Lundgren concludes noting "every dollar spent online influences $5.77 spent in the store over the next 10 days."

In related Ecommerce news, Forrester expert, Sucharita Mulpuru discusses how Ecommerce is indeed the bright side of retail. In her keynote address from shop.org's Annual Summit, Mulpuru delves into the significant strides being made in the Ecommerce realm that are helping to keep the retail sector afloat during these troubling economic times.

In the eyes of one Ecommerce expert, online retailers are:

resetting their goals: they are thinking ahead and altering standard business practices not to just emerge from the recession but in fact excel out of it...
alternatively assessing their competitors: looking at best practices and not just ROI driving methodologies; utilizing in some cases radical transparency as a means at the disclosure of innovation
developing their IT departments: folks are creating client enhancements and thinking ahead of the curve; they are testing in staging environments in an effort to provide solid QA in their production arenas
sticking together: they have realized that remaining close with brand loyal patrons and building upon existing relationships with their manufacturers is critical; add value to the selling arena and promote competitive pricing models
blogging, tweeting, faceBooking and more: Mulpuru cannot address enough the significance of social media marketing as a form of enhanced and deliverable customer generated content; the 2 way street enables brands to promote and spread word of mouth while conversely, customers and loyal brand enthusiasts can share their positive feelings about the company
getting mobile: Mulpuru lauds the iPhone as a revolutionary device. She encourages Ecommerce merchants to develop mobile sites and focus on few click-thrus for checkout to enable seamless mobile purchasing and updating; Mulpuru notes that "email is web retailers best friend, but it's not the future..."

ShopVisible is an Atlanta based Ecommerce solution provider.

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Ecommerce News: Innovative Online Retail