Oct 20

LightInTheBox Launches Arabic Language Websites with Cash on Delivery Option

BEIJING, Oct. 20, 2017 /PRNewswire/ — LightInTheBox Holding Co., Ltd. (NYSE: LITB) (“LightInTheBox” or the “Company”), a global online retail company that delivers differentiated products directly to customers around the globe, today announced the launch of tailor made Arabic language websites for customers in the Gulf Cooperation Council (“GCC”) on both LightInTheBox.com and MiniInTheBox.com as well as a cash on delivery payment option. The websites will provide a better shopping experience to Arabic speaking customers and localized products for the region.

According to Statista.com, e-commerce transactions in the Middle East are expected to grow at the faster pace than any other region in the world reaching US$20 billion by 2020. Cash on delivery remains the most popular payment option for e-commerce, accounting for over 70% of all online transactions in the GCC. The cash on delivery payment option is currently only available for customers in Saudi Arabia and the United Arab Emirates and will gradually become available to other GCC countries in the near future. LightInTheBox has formed strategic business partnerships with a number of top local logistics and warehousing service providers to further reduce delivery times and improve customer satisfaction.

“We are committed to fulfilling our mission of making good products accessible to global customers at affordable prices,” commented Mr. Alan Guo, Chairman and CEO of LightInTheBox. “The Middle East forms an integral part of the global economy and we are proud to be able to serve our customers there in the best possible way. Leveraging our extensive experience in big data analytics, online marketing, supply chain management, and overseas logistics and warehousing, we are ideally positioned to serve millions of Arabic speaking customers with a simplified cross-border e-commerce shopping experience and a wide variety of select high-quality products.”

About LightInTheBox Holding Co., Ltd.

LightInTheBox is a global online retail company that delivers products directly to consumers around the world. The Company offers customers a convenient way to shop for a wide selection of products at attractive prices through its www.lightinthebox.com, www.miniinthebox.com and other websites and mobile applications, which are available in 23 major languages and covers more than 90% of global Internet users.

Forward-Looking Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets” and similar statements. Among other things, statements that are not historical facts, including statements about LightInTheBox’s beliefs and expectations, the business outlook and quotations from management in this announcement, as well as LightInTheBox’s strategic and operational plans, are or contain forward-looking statements. LightInTheBox may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties.  Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: LightInTheBox’s goals and strategies; LightInTheBox’s future business development, results of operations and financial condition; the expected growth of the global online retail market; LightInTheBox’s ability to attract customers and further enhance customer experience and product offerings; LightInTheBox’s ability to strengthen its supply chain efficiency and optimize its logistics network; LightInTheBox’s expectations regarding demand for and market acceptance of its products; competition; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in LightInTheBox’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and LightInTheBox does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Christensen
Ms. Xiaoyan Su
Tel: +86 (10) 5900 3429
Email: rel=”nofollow”ir@lightinthebox.com

OR

Christensen
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email:  rel=”nofollow”lbergkamp@ChristensenIR.com

View original content:http://www.prnewswire.com/news-releases/lightinthebox-launches-arabic-language-websites-with-cash-on-delivery-option-300540426.html

SOURCE LightInTheBox Holding Co., Ltd.

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/lightinthebox-launches-arabic-language-websites-with-cash-on-delivery-option/

Oct 19

Briggs & Stratton Launches "Internet Of Things" Solution For Commercial Cutters

MILWAUKEE, Oct. 19, 2017 /PRNewswire/ – Across the commercial landscape sector, business owners are increasingly seeking ways to monitor both equipment and crews in order to reduce downtime and drive more revenue.

Briggs Stratton has developed and piloted an IoT device and web-based platform tailored specifically for those businesses. InfoHub for Commercial Turf, by Briggs Stratton, launched at GIE+EXPO, gives landscape owners and managers the intelligence they need to be smarter about scheduling jobs, preparing bids and even deploying crews and equipment. The data is fed from a cloud-based platform to the InfoHub portal. Armed with this real-time data, owners can drive more efficiency and profitability to the bottom line and make dynamic decisions to respond to uncertainties like weather rescheduling.

In research conducted by Briggs Stratton, as part of the InfoHub development process, many landscape business owners reported dissatisfaction with current data insights solutions and some even reported tracking information manually. Many were only able to look at data after-the-fact, which did not help them make decisions about crews, scheduling and equipment in real time.

“Many of the products on the market are only giving commercial lawn cutters half of the answer. They may monitor equipment maintenance needs or they may track crews, but the majority of software programs can’t track an entire fleet,” said Carissa Gingras, director of marketing – global support, Briggs Stratton. “Because InfoHub can be installed on any gas-powered engine with a spark plug and battery, commercial cutters can now track their entire fleet regardless of engine or mower brand.” 

Briggs Stratton worked with more than two dozen cutters in 2016 and 2017 to test InfoHub and validate features and benefits. The top two benefits pilot users found with InfoHub was their ability to track their crew and equipment, and the ability to understand profitability and productivity by crews and jobs. And since the number one expense cutters have is labor, InfoHub helped pilot users manage their labor resources more efficiently and ultimately, grow their businesses.

“Labor is very expensive. In any lawn care maintenance company, it’s the most expensive thing that you pay every year,” said Buddy Delong of Bluegrass Lawn Care, St. Louis. “Making sure that labor is efficient, and on task is very important. Using a system that tracks your equipment and your people allows you to use fewer people. And understanding utilization of labor cost is critical when labor can represent up to 40% of a cutter’s expenses.” 

Tracking equipment and helping cutters understand labor costs is only part of the InfoHub offer. InfoHub offers route optimization based on crew location, efficiency and availability. This permits cutters to add customers and routes, driving more revenue into their business. InfoHub also provides visibility to profitability by job and by crew, so cutters can determine whether they are making money, or losing money, on a job. “Many cutters told us they use InfoHub to both understand the costs in their business, as well as drive more money to the bottom line,” Gingras stated. “InfoHub is truly a unique business solution that helps cutters grow their business by monitoring their fleet, regardless of brands, and increasing profitability by job.”

For additional information on InfoHub, visit BriggsInfoHub.com.

About Briggs Stratton Corporation:
Briggs Stratton Corporation (NYSE: BGG), headquartered in Milwaukee, Wisconsin, is focused on providing power to get work done and make people’s lives better. Briggs Stratton is the world’s largest producer of gasoline engines for outdoor power equipment, and is a leading designer, manufacturer and marketer of power generation, pressure washers, lawn and garden, turf care and job site products through its Briggs Stratton®, Simplicity®, Snapper®, Ferris®, Vanguardâ„¢, Allmand®, Billy Goat®, Murray®, Branco® and Victa® brands. Briggs Stratton products are designed, manufactured, marketed and serviced in over 100 countries on six continents. For additional information, please visit www.basco.com and www.briggsandstratton.com.

 

View original content with multimedia:http://www.prnewswire.com/news-releases/briggs–stratton-launches-internet-of-things-solution-for-commercial-cutters-300538281.html

SOURCE Briggs Stratton Corporation

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/briggs-stratton-launches-internet-of-things-solution-for-commercial-cutters/

Oct 17

GE Aviation, Teradata form product partnership

GE’s use of Google Glass on the factory floor gives boost to AR market

GE Aviation and Teradata said they will partner to better combine operations and business analytics tools.

Under the partnership, GE and Teradata said they will create products and services aimed at the aviation markets. The two companies said they will join forces on marketing, sales, services, and support.

Teradata specializes in customer data, sales and marketing and back-office software. GE Aviation focuses on operations, network and asset management software.

The strategic pact will also bring together Teradata’s analytics software with Predix, GE’s industrial Internet of Things platform. Think of Teradata as a structural data player combined with GE’s unstructured information and digital twin capabilities.

Related stories:

More on IoT:

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/ge-aviation-teradata-form-product-partnership/

Oct 16

D&H Boosts Cybersecurity Focus with Cisco Products for Partners

Distributor DH has increased its focus on cybersecurity products and trainings to help partners broaden their expertise and better serve their customers. Monday’s announcement comes not long after DH kicked off its new fiscal year with a series of investments designed to expand business for its SMB-focused partners.

DH is offering its VAR partners security products and stepped-up training. The products include three Cisco cybersecurity offerings: Cisco Umbrella, Cisco Advanced Malware Protection (AMP), and Cisco AnyConnect Secure Mobility Client.

DH Distributing's Peter DiMarco

DH Distributing’s Peter DiMarco

“The standard network is now being accessed from a diversity of sites and equipment. It’s more of a challenge than ever to provide protection in all these scenarios,” said Peter DiMarco, DH’s vice president of VAR sales. “Resellers need to be diligent and take a multi-layered, proactive approach. We’re not only dealing with stealthy external hackers and malware; we’re also guarding against internal threats that are introduced within the network borders, sometimes residing on the system undetected for a period before wreaking havoc. Such situations necessitate not just one, but a series of solutions. A comprehensive security offering will monitor activities, identify suspicious behavior, and mediate threats from all sources, external or otherwise,” he said.

Cisco Umbrella is the rebranded OpenDNS products, which the company acquired in 2015. Cisco Umbrella is a cloud security platform that provides first-line defense against threats on the internet. It uses the internet’s infrastructure to block malicious designations before a connection is made, Cisco said.

The open-system platform is a secure internet gateway in the cloud, offering visibility into internet activity across locations, devices and users, blocking threats and mitigating potential breaches.

Cisco AMP is an enterprise-class product that provides advanced malware analysis and protection; it’s an antivirus engine that delivers next-gen security across all endpoints within the network. AMP is designed to product an organization’s back-end applications such as CRM, payroll and human resources.

IDC named Cisco a leader among vendors for its endpoint specialized threat analysis this spring.

“Endpoint security vendors have created innovative solutions that support detection and prevention of known threats and zero-day threats, and many of them incorporate robust platforms that support active threat hunting, response, and remediation capabilities. The vendors in this evaluation have captured a significant amount of the market with innovative and sometimes bold approaches to providing endpoint threat protection,” said Robert Westervelt, research manager and lead of IDC’s data security practice.

Then there is Cisco AnyConnect, designed to provide secure access to a business network from any device.

Finally, Cisco Ransomware Defense uses an architecture approach – DNS layer protection, endpoint protection, email threat protection, sophisticated segmentation, advance defenses for advanced attacks, and security services – to strengthen defense, according to Cisco.

Beefed up cybersecurity education for VARs is also underway, beginning with a series of educational sessions that focus on security services that address filters and firewall platforms for protection from ransomware; antivirus and malware solutions; and mobile device protection.

At its Midwest technology show in August, DH offered a security boot camp for select customers. It covered Cisco’s full portfolio, and a recent “You as a Service” solutions lab session walked attendees through a theoretical security sales scenario. The presentation can be accessed on demand.

As part of the DH Partner Services marketing resource, the distributor is offering VARs a specific marketing template for cybersecurity.

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/dh-boosts-cybersecurity-focus-with-cisco-products-for-partners/

Oct 15

Coding Conundrum

I want to get a job with an online company after graduation. Do I have to major in computers?

Written by Suzanne Hite, former publications editor serving the technology services sector.

In the digital age of today, nearly everything is done online. Your choice to work with an internet company is shared by many of your fellow classmates. You will need a skill set that is not necessarily developed through your degree. Working online is less specific than other career choices which demand a clear-cut set of educational requirements. Computer skills are essential, but you need to supplement them with knowledge of social media, brand marketing and loads of creativity.

The majority of students heading for the internet and technology field have a STEM (science, technology, engineering, mathematics) major. While this is a solid background, it does not really prepare you for online marketing, where you find many of the top internet jobs. By following traditional education and shunning the arts, you are not developing creative skills or innovative thinking. These play a major role in online marketing and problem solving that web developers need to engage an audience.

Internet companies seek ‘out-of-the-box’ thinkers who can design creative solutions. They do not specify a computer science degree or a diploma in marketing. A STEM major will not teach you creative thinking. If you can bring a new perspective to current technology issues, you will be recognized.

Every company needs brand promotion and some of the in-demand jobs are for social media and search engine optimization. Dominating competitors for search terms and social media audiences are the top goals for online companies. Skills at these positions require journalism rather than computer science, as you need to promote the company or products. Psychology and sociology also play a role in determining what website visitors to a click and why.

Also, do not make the mistake of thinking only in English. With 41 million Spanish-speaking people in the US, there is a distinct market that wants unique and culturally relevant website content. Major companies do not translate their websites, they transcreate to appeal to a whole new audience.

Having a passion for your subject does help. A degree in computer science will provide the foundation in the field. You will not be able to do your job by only applying what you studied, this is what students rapidly discover when they leave college.

Many online jobs did not exist a few years ago, so your major does not directly dictate your career path, especially an internet-based one. Concentrating on the skills you are developing at college rather than the subject material will help you in the workplace. You need to demonstrate problem solving, teamwork, and creative thinking. There are no majors for these skills, so you must independently develop them to advance your career.

Man is a slow, sloppy and brilliant thinker; computers are fast, accurate and stupid… John Pfeiffer.

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Oct 14

Here’s how the ICO market is creating a new financial subculture


bitcoin
People attend a Bitcoin
conference on at the Javits Center April 7, 2014 in New York
City.

Andrew Burton/Getty
Images


Earlier this month, the MIT Technology Review posted an article
that asked “What the hell is an initial coin offering?

When befuddlement emanates from the Massachusetts Institute of
Technology, arguably the world’s foremost grantor of geek cred,
you know you are in truly new territory.

Here’s what it is: An initial coin offering, or ICO, is a
fundraising mechanism based on a “cryptocurrency,” such as
bitcoin.

An ICO can launch a whole new cryptocurrency (there has been a
proliferation of new flavors in recent months), or it can be used
to create “tokens” used to fund a new business. 

For instance, an ICO can allow a new data-storage company to
pre-sell tokens to be used as a digital form of payment for
distributed file storage.

That is the essential story behind the Filecoin ICO, which raised
hundreds of millions of dollars in a presale to some of the
biggest investors in Silicon Valley. The technology, which
promises to enable the use of excess storage capacity on all
kinds of computers — sort of an Airbnb of hard drives — is being
built with funds from the token sale. 

And yet, nothing about an ICO is that simple. As the CEO of a new
enterprise cloud platform planning to launch an ICO this year, I
can tell you from the front lines that this market truly is a
through-the-looking-glass experience.

With its own jargon, murky regulation, a gold-rush atmosphere and
hundreds of millions of dollars in play for some of the bigger
projects, it has become nothing short of its own financial
subculture. 

Imagine: More
than $1.5 billion has been raised via
 ICOs
to date.
 

In fact, blockchain-based businesses have so far this year raised
more capital via ICOs than through traditional venture capital.

Many say it’s a bubble. Maybe. But it’s also possible that — like
the Internet boom of 20 years ago — valuations are beside the
point.

The real story is the underlying innovation of crowdfunding
through a sale of digital tokens, verified through a novel use of
blockchain technology. It is refreshingly independent of our
modern banking and fundraising mechanisms.


bitcoin convention
People
attend the Inside Bitcoins conference and trade show, Monday,
April 7, 2014 in New York.

Mark
Lennihan/AP


ICOs are such a new concept that the market is way ahead of
policy. Governments are still wrestling with how or whether to
oversee them. The U.S. Securities and Exchange Commission has
given only the most cursory of guidance about what types of ICOs
should be regulated as securities.

China flat-out banned them earlier this month, no exceptions,
sending cryptocurrency values into a tailspin. Estonian
officials, meanwhile, were considering an ICO for the nation’s
very own cryptocurrency until the EU got spooked and made them
stop.

In theory, ICOs should be pretty vanilla: Entrepreneurs announce
and promote their new idea online. The ICO customers who are
excited about, and want to use the product, buy the tokens. Then
the entrepreneur uses the funding to build the product using a
token that has a value only on that system.

A real world corollary would be an arcade that pre-sells tokens,
using the funds to buy all of the best video games, and then
opening its doors to its pre-sold community. Those tokens would
only have the value of playing a game, no more no less. 

But the ICO world doesn’t quite work like that. If the
entrepreneurs succeed and there’s good demand for that product
when it launches, then those pre-sold tokens become more
valuable. And so speculators have stepped in, exchanges have been
set up and everyone has pretty much lost their minds.

And, as the bigger money has come in, just like the traditional
investing world, the individual investor can be at a distinct
disadvantage.

Global crypto investors — the biggest ones are called “whales” —
are sought for every ICO. New “institutional” crypto investment
groups, and even self-styled hedge funds, get in early to buy
tokens in bulk at a discount, to sell later to the community at a
premium. 

During the gold rushes of the 1800s, the only ones guaranteed to
make money were those selling tools, provisions, maps, etc. to
the gold rushers. In this modern gold rush we see see their
descendants: cottage industries of specialist crypto-investor
relations and marketing companies sprouting up on the sidelines,
looking to charge well over a hundred thousand dollars for a
successful ICO launch.

New platforms have spawned to charge companies to rate their
ICOs, and others charge thousands of dollars — in cryptocurrency
of course — to list the upcoming sales.


bitcoin
An
attendant holds a bitcoin sign during the opening of Hong Kong’s
first bitcoin retail store

REUTERS/Bobby Yip

There are actual registered broker-dealers offering some
services. Finding the credible ones is still tough, as many are
still cautious. Too many are the very questionable shops with the
minimal licensing that are little more than boiler rooms. A
true-utility token is going to be an asset class of its own, and
will tap into the established financial market, but as of yet
there is no system or credible player. 

It’s become so important to create enthusiasm and demand for the
product that a bounty program typically is organized around each.
The tokens for sale in the ICO are intended for a community that
will use the product itself, but nothing is stopping speculators
from scooping them up. In fact, the momentum is part of what
drives a successful ICO. 

With every ICO come the folks who offer help in exchange for
tokens. In this context those tokens are called a “bounty,”
making them … bounty hunters. This help comes in every
imaginable form. ICOs generally involve the crafting of a white
paper that’s given to investors. Swarms of bounty hunters appear
offering translations into Mandarin and Russian but also
Romanian, Turkish, etc.

Overseeing this process is the bounty manager, someone hired by
the company who by necessity is a strict taskmaster. He or she
bans the shady bounty hunters, controls the purse strings and
checks their work. You’ll want one who can read Romanian.

The future is unwritten. ICOs may complement venture capital and
private equity and they may not. Regulatory crackdowns could slow
things down. But so far ICOs continue apace.

The point is this a fundamentally new funding model, so there is
no roadmap for growth and process. The road that is being paved
has created its own subculture, and that’s an interesting thing
to see in the what is usually a grey and stodgy world of finance.

Lucas Geiger is the founder and CEO of Wireline, a
marketplace for business applications. Wireline is raising the
largest open-source developer fund through an ICO.

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/heres-how-the-ico-market-is-creating-a-new-financial-subculture/

Oct 13

Sexual Wellness Market – Forecast to Grow at a CAGR of 6% by 2022 – Research and Markets

DUBLIN–(BUSINESS WIRE)–The “Sexual
Wellness Market – Global Outlook and Forecast 2017-2022”
report
has been added to Research and Markets’ offering.

The global sexual wellness market is expected to grow at a CAGR of 6.03%
in terms of revenue during the forecast period 2016-2022.

The demand for these products from online channels has been growing
worldwide, especially in developing economies such as China and India.
While the online retail market for these products is particularly
well-developed and growing in the developed market, increasing presence
of online retailers such as Amazon, Alibaba, and eBay in developing
countries would push for a strong growth in developing economies in the
future.

Implementing comprehensive sex education for teenagers, growing cases of
AIDs/HIV, increasing prevalence of STDs, and increasing acceptance of
sexual wellness products among women are the major factor that will
enable the market growth during the forecast period. Penetration of
internet services, improved economy, increased promotional and marketing
activities, introduction of innovative condom designs are the emerging
trends that are going to drive the market.

The report provides a holistic view of the global sexual wellness
market, the companies involved in the market, and the factors driving
its growth. It also provides information about some of the latest trends
that are likely to become strong market driving forces over the next
five years.

Companies Mentioned

  • Triumph
  • Tenga
  • Suki (OhMiBod)
  • STRATA Various Product Design
  • PHE
  • Orient Industry
  • Lise Charmel
  • LELO
  • La Perla
  • La Maison Lejaby
  • L Brands
  • HBM Group
  • Embry
  • Eau Zone Oils Fragrances
  • Doc Johnson
  • Cosmo Lady
  • Convex Latex
  • Calvin Klein
  • CalExotics
  • BMS Factory
  • Bijoux Indiscrets
  • Beate Uhse
  • (20+ Others)

Key Topics Covered:

1 Research Methodology

2 Research objectives

3 Research Process

4 Report Coverage

5 Report Assumptions Caveats

6 Market at a Glance

7 Introduction

8 Market Dynamics

9 Value Chain Analysis

10 Global Sexual Wellness Market

11 Sexual Wellness Market by Product

12 Market Segmentation by Distribution Channels

13 Geographical Segmentation

14 APAC: Sexual Wellness Market

15 Europe: Sexual wellness Market

16 North America: Sexual Wellness Market

17 RoW: Sexual Wellness Market

18 Competitive Landscape

19 Key Company Profiles

20 Other Prominent Companies

For more information about this report visit https://www.researchandmarkets.com/research/4p6dr9/sexual_wellness

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/sexual-wellness-market-forecast-to-grow-at-a-cagr-of-6-by-2022-research-and-markets/

Oct 12

3 ways retailers can stand up to big competitors

Editor’s note: The following is a guest post from Thom Brodeur-Kazanjian, CEO of lingerie, costumes and swimwear e-tailer Yandy.com.

Every year there are new stories out about Amazon devouring smaller online retailers, or the overwhelming dominance of the top 100 retailers in the marketplace. And I question the hysteria in these reports as I witness the success of small-to-midsize players.

The reality is, there is plenty of room for smart and aggressive entrepreneurs to be successful in retail, especially online.

As the CEO of a boutique online retailer of lingerie, intimates, costumes and swimwear — Yandy.com — I am consistently asked how we could even hope to compete with the giants of this sector like Victoria’s Secret, or e-commerce behemoths like Amazon, Alibaba and others. The simple answer is, if you stay flexible, seize opportunistic moments in the market quickly, and do the hard work of listening to your customer, you can create curated e-tail experiences for your core customer and drive loyalty among them.

Commodity shoppers are Amazon shoppers — but not everything is a commodity. Yandy most definitely isn’t a commodity e-tailer, and our customers rely on us for more than just “quick and cheap with free shipping.”

1. Act quickly

One of the strategies that we’ve become particularly adept at is responding to market opportunities quickly when others exit or de-emphasize certain products and categories. When we see these behaviors in larger competitors, we quickly assess the opportunity and model Yandy’s ability to either compete, or win in, the category. And because we don’t have to refactor the impact of our decisions because of heavy brick-and-mortar retail investments, it is relatively easy for us to test and terminate, or test and launch to move quickly when opportunities arise.

When Frederick’s of Hollywood went bankrupt and closed its brick-and-mortar stores in 2015, we immediately boosted our SEO efforts to counter its increased online presence. When Victoria’s Secret exited the swimwear sector in late 2016, we acted quickly and doubled down on our private label swimwear design, production and marketing efforts. Our big push came in the form of unveiling our 2017 swimsuit collection at New York Fashion Week, obtaining a license from Paramount Pictures for a collection of Baywatch swimsuits, and securing the coveted swimwear sponsorship of the 2017 Miss USA competition. Year-to-date, we have tripled our swimwear business.

Another example can be found in MeUndies. The company’s founder, Jonathan Shokrian, simply had a bad experience shopping for underwear and wanted to improve upon it. He was tired of paying for over-priced and uncomfortable products, so he founded his own company with two simple promises — his underwear would be more cost effective and comfortable. Internet Retailer’s 2017 Online Apparel Retail Report’s reported that MeUndies grew its web sales 112.9% and raised $10.4 million from investors in 2016. Shokrian found a void in the marketplace and quickly filled it.

Victoria’s Secret also recently announced they will be de-emphasizing their bralette business going forward. Recognizing that Yandy’s customers rely on us for fashion forward yet accessible products, we immediately saw an opportunity to reallocate our product innovation, design and production resources to capitalize on a smaller part of our bra business — the bralette segment — in exchange for directing those resources to a structured bra business. We are better positioned to compete and win with millennial consumers in bralettes than we are in structure bras. So we are applying similar strategies we did in swimwear to this category, and expect to see even better results as swimwear is still a largely seasonal business but bralettes and bras are not.

2. Innovate on the customer experience

Birchbox is another example of an online player that’s found a profitable niche.

The beauty platform, which offers customers a monthly box of personalized makeup, haircare and skincare samples delivered right to your door, has created a mobile app with personalization at its foundation. The founders wanted to bring the feeling of working with a beauty expert in a department store to the home, or on-the-go, by taking both novice and expert-level beauty customers through a series of questions to determine individual style and preference. The company, founded in 2010, reports annual sales of more than $200 million and has received more than $80 million from investors. (And is reportedly an acquisition target of Walmart.)

Connecting with your customers at a personal level and providing them with innovative tools that generate that intimate level of engagement with your brand is essential to maintaining a loyal customer-base. If online retailers can provide an atmosphere that feels akin to working in-person with a sales associate, you not only provide them with a better online experience, you give these customers more convenient options than driving to a brick-and-mortar location.

3. Adapt to new technology

Small and mid-sized e-tailers like Yandy benefit a bit from being more agile and flexible than many of our peers. When you’re built as a technology company that provides goods and services, this can be a bit of an advantage in terms of first-mover, or fast-mover among peers and competitors.

Artificial intelligence and virtual reality are two exciting developments that the retail industry is exploring heavily. The custom tailoring startup, Original Stitch, has integrated artificial intelligence to measure a user’s favorite button-down shirt and replicate it, rather than having the user measure themselves. Companies like VR Retail, Fundamental VR and more, are helping the retail industry utilize virtual reality to provide online shoppers with a virtual dressing room or to tell an immersive story about a brand. The use of these technologies can be a major game-changer.

No matter what you sell or where you sell it, there will always be opportunities to grow your market share. Success in retail, especially online, is typically awarded to the company that quickly jumps on opportunities with creative and comprehensive strategies, those that develop the most engaging customer experience, or those that use their flexibility to integrate convenient or exciting technology to connect with their customers. 

Permanent link to this article: http://homebiz2bizreview.net/internet-marketing/3-ways-retailers-can-stand-up-to-big-competitors/

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