FINANCE

GE Capital renews private label card program with J.C. Penney

BY Staff Writer

Stamford, Conn. — GE Capital Retail Bank, a consumer lending unit of General Electric Company (GE), has renewed its private label credit card program with J.C. Penney Co.

The JCP consumer card program provides credit to millions of consumers who shop at more than 1,100 J.C. Penney stores in communities across the United States and Puerto Rico, as well as online at JCP.com.

“We are pleased to continue providing the card program to JCP customers and excited to extend what has been a very successful 13-year relationship. We look forward to working with the entire JCP team, helping to build their business and serving millions of customers across America,” said Margaret Keane, CEO of GE Capital Retail Bank.

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OPERATIONS

Survey: Top shopping app is Shopkick

BY Michael Johnsen

Palo Alto, Calif. — The shopping app Shopkick on Wednesday announced that Nielsen ranked Shopkick No. 34 out of approximately 1 million apps in December 2012. While still trailing giants like Facebook, YouTube and Twitter overall, Shopkick dominated the shopping category during the holiday season, with more frequent and prolonged usage than all physical retailers’ own apps including Starbucks, Walmart, Walgreens, Kroger and Safeway, the app developer noted.

"Mobile is redefining the physical retail world," stated Cyriac Roeding, Shopkick CEO. "It is on its way to become the No. 1 marketing tool for retailers and brands, because it is the only interactive medium consumers have with them in the noninteractive physical world, especially at stores. … It’s the perfect way for retailers and brands to touch shoppers at each point in the purchase cycle — from research through browsing, to purchase."

Shopkick 3.0, released last October, topped the Nielsen shopping app statistics. According to Nielsen, Shopkick is the No. 4 most widely used shopping app – behind Amazon, eBay and Groupon — which makes it the most widely used shopping app at physical retailers. In addition, Shopkick ranks No. 1 on most time spent in-app per month (2 hours, 37 minutes), No. 1 on the number of sessions per month (22) and No. 1 in terms of time spent per session (7 minutes).

Shopkick’s users viewed more than 1 billion products in the app within three months, a number that previously took Shopkick one-and-a-half years to reach. Previously, users looked at five to eight products per day in the app. With Shopkick 3.0, each user averages over 100 products viewed per day, the company noted.

Shopkick has accumulated 15 national retailers, including Target, Macy’s, Old Navy, American Eagle, Crate & Barrel, Toys "R" Us, ExxonMobil and Simon Malls, and more than 70 brands, such as Procter & Gamble, Kraft Foods, Disney, Revlon, Unilever, Pepsi, and top financial institutions, Visa and MasterCard, as partners.

To provide high-value rewards to shoppers for actually being present in stores, the Shopkick app detects a Shopkick signal, emitted from a patent-pending device located in each participating store and picked up by a shopper’s phone’s microphone and then delivers "kicks," Shopkick’s cross-retailer reward currency.

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N.Stephan says:
Apr-09-2013 07:04 pm

stats
Shopkick 3.0 is a vast improvement to the ever growing app shooing industry. However with its no. 4 ranking for most used shopping app, it makes up in its no. 1 ranking for number of sessions in a month. They have captured the big players, which can be read in paragraph 5, but who is next, or what can they do to stay in the front of the pack? Many people reside in florida, and use far more shoes then the avg home throughout the us, I wonder how each state stacks up to the rest from seo florida to the far ends of new york... How many products do you view a day on Shopkicks new app?

N.Stephan says:
Apr-09-2013 07:04 pm

Shopkick 3.0 is a vast improvement to the ever growing app shooing industry. However with its no. 4 ranking for most used shopping app, it makes up in its no. 1 ranking for number of sessions in a month. They have captured the big players, which can be read in paragraph 5, but who is next, or what can they do to stay in the front of the pack? Many people reside in florida, and use far more shoes then the avg home throughout the us, I wonder how each state stacks up to the rest from seo florida to the far ends of new york... How many products do you view a day on Shopkicks new app?

S.Hance says:
Mar-12-2013 05:35 am

Shopping is really a hobby
Shopping is really a hobby for women, they'd like to go shopping even though they don't have the money. The just go around the mall and search for their interest and will buy it soon. - Peter F. Spittler

S.Hance says:
Mar-12-2013 05:35 am

Shopping is really a hobby for women, they'd like to go shopping even though they don't have the money. The just go around the mall and search for their interest and will buy it soon. - Peter F. Spittler

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REAL ESTATE

Report: Apple to relocate 20 stores

BY Staff Writer

New York — Apple Inc. will shut down 20 stores and move them to new, larger locations, according to the Los Angeles Times.

Tim Cook, CEO of Apple, said that the company is looking to relocate the stores in order to make them larger.

The company also will open 30 additional stores at new locations, mostly outside the United States, including its first location in Turkey.

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