Industry News - June 27, 2008
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RETAIL AND TECHNOLOGY NEWS
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Overstock.com Adds PayPal Pay
Later
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Overstock.com now gives shoppers
the ability to shop now and pay
later with the promotional
financing service, PayPal Pay
Later.
"Since launching in Q4 of last
year, PayPal has continued to
add value to our website and our
customers. Adding PayPal Pay
Later as an additional way to
pay allows us to continue to
give our customers the best
options at the best value,"
Patrick Byrne, chairman and
chief executive officer of
Overstock.com.
The PayPal Pay Later service
gives Overstock.com customers a
credit account with flexible
financing options - even if a
buyer doesn't have a PayPal
account. As part of the
introductory financing
promotion, customers can defer
payments on purchases for 90
days, allowing consumers to buy
what they really want on
Overstock.com and plan their
payments in a way that best fits
their budgets.
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Lucy.com Enhances E-Commerce Web
Site |
Lucy activewear, a lifestyle
apparel company for women, selects
the Demandware E-Commerce Platform
to enhance its online shopping
experience for consumers and to
expand its growing cross-channel
business.
The lucy brand’s Web site, launched
in 1999, has been a key channel for
delivering solutions to consumers
searching for lifestyle apparel.
Since re-launching in 2004, the lucy
brand’s online business has more
than doubled. To support its
continued online growth, lucy
activewear is partnering with
Demandware, which will deliver
merchandising capabilities and
manage the hardware and maintenance
for the site. The lucy brand expects
to launch its enhanced site near the
end of 2008.
“Our e-commerce site is a key sales
channel for the lucy brand, as
approximately 50 percent of our
in-store customers also visit us
online. In fact, many of our
customers come into the store with
printouts of outfits that are
showcased on the site,” said Rebecca
Taubman, director of e-commerce for
lucy. “As traffic to our Web site
continues to increase, our enhanced
Web site and platform will enable us
to offer customers a sophisticated,
stress-free shopping experience, as
well as targeted cross-channel
promotions and guaranteed
availability.”
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Polo Ralph
Lauren Extends Long-Term
E-Commerce Partnership with GSI
Commerce |
Polo Ralph Lauren announces a
five-year extension to its long-term
e-commerce Web technology agreement
with GSI Commerce. Polo Ralph Lauren
will continue to use its e-commerce
technology solutions to enhance its
premium lifestyle brand and grow its
multi-channel business. Polo Ralph
Lauren will continue to support its
own customer care center and
fulfillment services through its
recently built 330,000 square feet
facility in High Point, North
Carolina, which was fully
operational on April 8, 2008.
Since launching on the GSI platform
in May 2004, RalphLauren.com has
experienced rapid growth. In 2007,
the brand was recognized by the
Luxury Institute as the "most
effective luxury Web site."
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The Limited Implements Tools to
Identify Return Fraud and Abuse |
The Limited adds return
authorization solutions from The
Retail Equation to more than 240
of its locations. The Limited
uses the Verify-1 software
system to identify return fraud
and abuse, a $15.5 billion per
year problem in the United
States. As part of the Verify-1
service, The Retail Equation is
contracted by retailers to
gather their return information,
store it securely, and analyze
the data to develop and follow
return policies for those
retailers.
"The relationship between The
Limited and The Retail Equation
has proven to be of significant
benefit to our stores' bottom
lines," said Tracey French,
director of loss prevention for
The Limited. "In fact, we've
seen a return rate reduction of
more than 13 percent,which has
translated into significant
savings for our company. We are
confident that our continued
reliance on Verify-1 technology
will yield further profitable
impacts, and are encouraged to
start this new business venture
with the protection the program
offers." |
Checkpoint
Systems Acquires OATSystems |
Checkpoint Systems announces
that it has entered into a
definitive agreement to acquire
OATSystems. Checkpoint and
OATSystems offer complementary
merchandise protection and
inventory management
applications.
For retail customers, OATSystems
solutions help turn large
quantities of data from RFID
hardware into actionable
information. These solutions
help retailers enhance
operational efficiency by
obtaining perpetual inventory
levels, helping ensure on-shelf
availability of merchandise that
is seamlessly integrated within
the framework of existing loss
prevention strategies and
practices.
The company will continue to use
and develop the OATSystems brand
and software platform to serve
retail, consumer products and
industrial customers.
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