Electronic Retailing News
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ACQUISITIONS: GSI Commerce Inc., King of Prussia, Pa., has agreed to acquire U.K.-based online retailer Zendor.com for $7.9 million in cash. GSI said the deal will open it up to Zendor customers, including five major British retailers in baby, home and apparel products. Zendor will be known as Zendor GSI Commerce.
WEB 2.0:CircuitCity.com launched a social-networking site for shoppers and sales associates called CityCenter Community. Powered by Austin, Texas-based Pluck Corp., shoppers can share photos, ideas and product preferences. They can also ask Circuit City staff members questions. The retailer uses the site to monitor customer demand, uncover common product-support issues, and engage customers through photo contests and special promotions. … Brookstone has partnered with Boston-based Kinset Inc. to create a 3D online store that brings shoppers into a virtual store that looks like an actual Brookstone location. The technology allows shoppers to browse the aisles and view products, while enabling Brookstone to test store design, layout and merchandising. The company said that because the technology mirrors store designs in the real world, Brookstone can determine how small changes in its stores affect consumers’ buying decisions and determine how they can react to the results. … Nearly 75% of U.S. Internet users watched a video online in September, averaging three hours of video per person during the month, according to a report released by Reston, Va.-based comScore Video Metrix last month. Americans viewed more than 9 billion videos online, averaging two 2.7-minute-long videos per day.
Borders to offer free resolution workshops
ANN ARBOR, Mich. Borders said Thursday that it is offering customers free in store events throughout the month of January to help them kick start their new year’s resolutions and learn how to keep them through the year. Programs include wellness fairs, yoga classes and diet seminars.
Borders reported that local organizations and community groups will be featured in activities and events at its stores across the country ranging from fitness centers and hospitals to singles groups and retirement centers.
Schulze sells 440K shares of company stock
MINNEAPOLIS Best Buy chairman and founder Richard Schulze sold 440,000 shares of Best Buy stock last week valued at $22.4 million. Schulze sold the stock at prices ranging from $50.71 to $51.18 per share. Earlier this month, Schulze sold 2.35 million shares valued at more than $120 million.
While Schulze’s stock sales are considerable, they represent just a fraction of his holdings at Best Buy. He’s estimated to still hold more than 68 million shares of stock amassed during 41 years with the company.