FINANCE

RadioShack and Citi Retail Services extend consumer credit agreement

BY Staff Writer

Atlanta — RadioShack and Citi Retail Services announced a long-term agreement to extend their 28-year consumer credit relationship. Under the agreement, Citi will continue to provide service-enhancing solutions and analytics in support of RadioShack’s targets for growth. RadioShack customers will continue to enjoy comprehensive financing programs and top-tier customer service.

“Our business is in the midst of a significant and exciting transformation,” said Joe Magnacca, Radio Shack’s CEO. “Citi Retail Services has been an important partner for RadioShack, delivering the consistency and high level of service that is vital to our success. We are happy to continue to offer this program to our customers with Citi’s partnership.”

RadioShack will re-launch its private label credit card in the first quarter of 2014, with new branding. This will be one element of a brand refresh that includes new and exclusive product offerings, brighter and more easily shop-able stores, and the opening of over 100 concept and brand statement stores before the end of 2013.

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Oct-18-2013 02:34 am

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MARKETING/SOCIAL MEDIA

Shop.org: Online retailers prep for holidays early

BY Dan Berthiaume

Washington, D.C. – Many online retailers are starting or have started their holiday preparations early this year. According to Shop.org’s eHoliday survey conducted by Prosper Insights & Analytics, 74% of online retailers had started preparing for the 2013 holiday season by July of this year, and 51% plan to start their holiday promotions by Halloween.

Online retailers are also looking to mobile commerce to boost profits this holiday season. More than half (57.4%) have invested in optimizing their mobile websites, nearly four-in-10 (38.3%) have invested heavily in the smartphone user experience, and one-quarter (25.5%) say they invested in mobile commerce apps for smartphones.

Retailers will also tap specific mobile marketing tools to attract holiday shoppers this year. At the top of the list of mobile tactics for more than half (55.3%) of retailers: mobile email optimization. Additionally, 44.7% will use smartphone paid search campaigns, two in five (21.3%) will use SMS campaigns, and 17.0% will use QR codes or other barcode scanning promotions.

Looking for heightened return on their investment, many companies will focus more on social media this year. More than half (54.8%) will increase their use of Facebook in November and December, and 59.5% will increase their use of Pinterest. Additionally, 55% of companies surveyed will increase their use of Instagram.

Other findings include:

  • About seven-in-10 (68.8%) online retailers say that at least 20% of their total 2013 online marketing budget goes toward holiday marketing, and two-thirds (66.6%) say that at least 20% of their total online promotions budget goes towards holiday promotions.
  • More than one-quarter (27.3%) say they will offer free shipping earlier because of the economy and 31.8% plan to offer discounts earlier than they did last year, and another 31.8% will increase their use of daily deals for their customers.
  • 16.3% of retailers will offer their first holiday free shipping offer by the week of Oct. 28; more than one-third (34.9%) say they already offer year-round free shipping, compared to 23.1% last year.

“Retailers have been preparing for holiday for months, smartly investing in what’s important to online shoppers: value, free shipping, a user-friendly site, and flexible returns, among other features,” said Shop.org executive director Vicki Cantrell. “Retailers understand that holiday shoppers also look for merchandise selection and quality, and have boosted inventory to offer ample selection and exclusive products to help customers find just the right gift for everyone on their list.”

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REAL ESTATE

Howard Hughes Corp. breaks ground on South Street Seaport redevelopment

BY Staff Writer

New York — The Howard Hughes Corp. on Thursday officially broke ground on the redevelopment of Manhattan’s South Street Seaport, with a ceremony at Pier 17.

The redeveloped Pier 17 is expected to open in 2016, with a mix of retail, dining and entertainment options highlighted by a one and a half-acre rooftop that will include a restaurant, two outdoor bars and an amphitheater that will hold up to 4,000 people for concerts and special events.

With 40% more open space, the pier will showcase spectacular views of the New York Harbor, Statue of Liberty, Brooklyn and Lower Manhattan. Along with the rooftop destination, the new Pier 17 building will feature a glass façade encompassing a compelling array of stores, restaurants and neighborhood shops. The contemporary design draws from the site’s history as a bustling marketplace and renowned maritime port with the goal of creating an unmatched New York experience with unparalleled waterfront access that is compelling to neighborhood residents, local workers and tourists.

“Today is an important step forward in the rejuvenation of our historic Seaport area as the redesign of Pier 17 maintains open space, view corridors and honors our maritime past by proudly docking nearby the Seaport Museum’s historic vessels to create our signature skyline,” said Community Board 1 Chairwoman Catherine McVay Hughes.

"SHoP’s design for the Seaport’s Pier 17 combines the density needed to support active street life on the waterfront with intimately scaled retail corridors," said Gregg Pasquarelli, principal, SHoP Architects, the design firm. "The building’s network of interior streets connects to its historic context as well as a series of public spaces designed with James Corner Field Operations, the landscape architect who envisioned New York’s High Line. The new building will be a beautiful space for New Yorkers to connect to their iconic waterfront."

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