Cisco report details best practices in global e-commerce
New York City — With global e-commerce estimated to reach nearly $1.4 trillion in 2015, more and more retailers are looking to gear up or expand their online operations. A new report by Cisco Internet Business Solutions Group (IBSG) sizes up the challenges and opportunities — and outlines best practices — for retailers who want to take advantage of e-commerce growth by going global.
The report, “The Global E-Commerce Gold Rush: How Retailers Can Find Riches Overseas,” is based on in-depth interviews with leading e-commerce executives at many of the top global retailers and suppliers.
“The No. 1 mistake retailers make in their globel e-commerce operations is not doing sufficient homework into local customer needs and expectations before opening their website,” Joanne Bethlahmy, director, retail and consumer goods practice, Cisco IBSG, and co-author of the report, told Chain Store Age.
Every country, for example, has very different cultural sensitivities around payment options based on their history as a country, and to unlock potential revenue in a particular country you have to allow for local payment norms, according to Bethlahmy.
“The No. 1 way to pay online in Germany is via online bank transfer,” she said, “while in Japan, Taiwan and Mexico, a lot of e-commerce is paid via COD.”
The best practices detailed in the report include:
- Picking the best markets for success;
- Determining the right mix of operations to have at headquarters versus locally;
- Choosing the right buyers to meet local tastes;
- Using local marketing resources to ensure customer relevancy;
- Developing a core global platform that can be modified by country management to appear local;
- Selecting the best method for fulfillment and delivery; and
- Building an IT architecture for scalability and worldwide e-commerce.
To read the report go to cisco.com/web/about/ac79/globalecom.
Kenneth Cole names CEO
New York City — Kenneth Cole Productions announced that effective June 20, 2011, Paul Blum will be appointed to the position of CEO. Kenneth Cole will continue as chairman and chief creative officer, maintaining his creative role over design and advertising.
Hired in March as vice chairman, Blum brings over 25 years of experience in footwear, accessories, apparel, wholesaling and retailing to the position. He most recently held the position of CEO at luxury jewelry company David Yurman.
Lids acquires Buckeye Corner
Indianapolis — Lids Sports Group announced the acquisition of Buckeye Corner stores, which operates four stores in the Columbus, Ohio, area. The acquisition also includes Buckeye’s e-commerce website and a catalog business.
Terms of the acquisition were not disclosed.
Buckeye Corner, the official retail partner of The Ohio State University Alumni Association since 2004, now operates within the Lids Clubhouse division of Lids Sports Group. The Clubhouse operates more than 20 team-specific professional sports and university athletics retail stores and e-commerce websites.