OPERATIONS

Gilt.com launches activity-based loyalty program

BY Dan Berthiaume

New York – Gilt.com is launching the Gilt Insider Program, a new free rewards program offering Gilt members the opportunity to earn points for free by interacting with the site. Activities such as making purchases, referring friends and visiting online sales earn members points they can redeem for benefits such as access to early sales, exclusive discounts, free shipping and invites to special events.

Gilt.com is adding some gamification features to the program, such as offering three program tiers, with customers gaining added perks like waitlist priority and a dedicated customer service line as they earn more points and move up to higher tiers.

"We wanted to create a loyalty program that rewards our members not just for their purchasing but for all the ways they interact with our brand," Elizabeth Francis, chief marketing officer, Gilt.com. "Gilt Insider perks are a collection of our member’s most requested asks, from having early sale access to a brand they love, to deeper discounts, to the opportunity to attend exclusive events. The rewards program is designed to provideGilt members with a platform to pick and choose from the rewards they love the most."

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FINANCE

RetailMeNot goes public

BY Dan Berthiaume

Austin, Texas – Digital coupon provider RetailMeNot launches its IPO on Friday of 9,090,908 shares of its Series 1 common stock at a price to the public of $21 per share. Shares will be available on the Nasdaq Global Select Market under the ticker symbol "SALE." Of the shares in the offering, 4,545,454 shares are being offered by RetailMeNot and 4,545,454 shares are being offered by selling stockholders.

Morgan Stanley & Co., Goldman Sachs and Credit Suisse Securities are serving as joint book-running managers for the offering, with Jefferies and RBC Capital Markets acting as co-lead managers and Stifel, Nicolaus & Co. and William Blair & Co. acting as co-managers.

RetailMeNot has not issued a public statement regarding the IPO.

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OPERATIONS

Study: Small retailers hit by showrooming; pump money into local economy

BY Dan Berthiaume

Irvine, Calif. – Showrooming is not just something afflicting large retail chains. Eighty percent of small retailers also report being affected by showrooming, with 47% indicating a moderate impact, according to new data from small business software provider Sage North America.

In addition, Sage data finds that $68 of every $100 spent at a local retailer stays in the community where it is spent, compared to only $32 out of every $100 spent at a non-local retailer.

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