Fast Retailing brand debuts 20-second mobile shopping; buy directly from ads
New York — Fast Retailing Co.’s Comptoir des Cotonniers division, a French fashion brand, has launched a new service, “Fast Shopping,” which allows European shoppers to purchase items in 20 seconds on their mobile devices via an application from Powa Technologies, London. Shoppers using the PowaTag app can scan items they see on ads in various places to make the purchase and with one click, complete the transaction and have the goods delivered to their home within 48 hours.
“As a leading fashion retailer, this is exactly the kind of innovation that we look for at Comptoir des Cotonniers utilizing technology to better meet the needs of our customers,” said Nancy Pedot, CEO of Comptoir des Cotonniers and Princesse tam.tam, which owned by Fast Retailing, also parent company of Uniqlo. (Pedot, formerly CEO of Gymboree Corp., joined Fast Retailing in 2013.)
Comptoir has placed some 10,000 ad supports for the new service, effectively giving the brand 10,000 virtual storefronts, ranging from promotions on bus shelters to ads in fashion magazines and on café tables. About 30 skus are being offered, with a second series of products to be launched in November.
“We are proud to be partnering with Powa Technologies as we introduce the concept of ‘Fast Shopping’ and redefine what multichannel means for the retail industry,” Pedot said.
Other retailers are also looking into the technology. British brand Laura Ashley will integrate PowaTag codes into its website and then into its catalog, allowing customers to make purchases by scanning product pages, according to Marketing Week.
Barneys New York continues making digital advancements
Barneys New York has re-launched a search function for Barneys.com, developed in collaboration with Rich Relevance, as part of its efforts to offer shoppers a customized digital shopping experience.
The upgraded function leverages site-wide customer behavior and merchant intelligence to create a personalized search experience that goes beyond collaborative filtering.
“Internal search continues to be one of the most important features of site experience,” said Matthew Woolsey, EVP, digital, Barneys New York. “Now, with the ability to deliver personalized, targeted product recommendations, we’ve introduced something new to the digital luxury marketplace that will continue to improve the customer experience for Barneys.com."
The new capabilities were designed, developed and launched using RichRelevance’s personalization platform and flexible APIs. Moving forward, new functionalities will be introduced, including recommendations reflecting each individual’s shopping and buying behavior, as well as relevant editorial content and campaigns. Leveraging content from Barneys’ luxury editorial site, The Window, stories will be geo-targeted or directed to customers in real time based on what they are searching for.
Genesco banks on back half after tepid Q1
Genesco’s first-quarter results may have been tepid, but the company highlighted its second quarter, which is off to a solid start with a comparable sales increase of 3% through May 24, and expressed confidence that it can build on the current momentum.
The company reported net earnings of $13.97 million in the first quarter of fiscal 2015, down 3% from $14.41 million in the same quarter last year. An increase in selling and administrative expenses drove the net earnings decline.
Net sales increased 6% to $629 million, from $591 million. Same-store sales increased 1%.
“We are pleased with our performance given the choppy retail environment, combined with the lack of a meaningful, new fashion driver in the teen footwear space early in the year,” said Robert J. Dennis, chairman, president and CEO of Genesco. “We continue to expect stronger comparable sales gains and improved profitability as we move into the back half of the year.”
Based on its first quarter performance and current visibility, the company is sticking with its previously announced guidance for adjusted fiscal 2015 diluted earnings per share in the range of $5.40 to $5.55, a 6% to 9% increase over fiscal 2014’s adjusted earnings per share of $5.09. This guidance is based on an estimated comparable sales increase in the low single digit range for the full fiscal year.