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Report: Retailers miss mobile push opportunity

BY Dan Berthiaume

San Francisco – Although 77% of top online retailers have published a mobile app and 62% of them prompt users to opt into push notifications, many of them are missing a significant opportunity to perform push communications. According to new data from mobile analytics provider Other Levels, only 31% of the top 100 online retailers actually sent a message through push notification.

However, Other Levels data shows that 70% of consumers are open to receiving mobile push notifications. Additional findings include:

• Only 16% of top 100 online retailers have a mobile app with social media integrated login capabilities;

• Less than 2% of top 500 online retailers have a mobile app with a rich-inbox; and

• Only 40% of the top 100 online retailers request users opt in to share the device’s GPS location.

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SEC charges six with insider trading in EBay-GSI merger

BY Dan Berthiaume

Washington, D.C. – The Securities and Exchange Commission has charged a former executive with insider trading in advance of EBay’s acquisition of the e-commerce company GSI Commerce where he worked, by tipping friends and relatives with confidential information about the pending deal so they could attain more than $300,000 in illegal profits.

The SEC alleges that Christopher Saridakis provided two family members and two friends with nonpublic information about the pending acquisition and encouraging them to trade on it. To settle the SEC’s charges, Saridakis agreed to an officer-and-director bar and must pay $664,822, which includes a penalty equal to twice the amount of his tippees’ profits. In a parallel action, the U.S. Attorney’s Office for the Eastern District of Pennsylvania today announced criminal charges against Saridakis, who lives in Delaware.

The five traders and the individual who entered into a non-prosecution agreement will pay a combined total of more than $490,000 in their settlements, which range from disgorgement-only or reduced penalties for cooperators to penalties of two or three times the trading profits for other traders. The SEC’s investigation is continuing into trading by other individuals.

“Although Saridakis’ tips spun a web of illegal trading, some of the downstream tippees substantially assisted in our investigation while others hindered it,” said Andrew J. Ceresney, director of the SEC’s Division of Enforcement. “The reduction in penalties for those tippees who assisted us, together with the non-prosecution agreement for one of the traders, demonstrate the benefits of cooperating with our investigations. The increased penalties for others highlight the risks of impeding our work.”

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Crutchfield adopts new in-store pricing solution

BY Dan Berthiaume

Charlottesville, Va. – Crutchfield Corp. has adopted the new integrated 360pi-Displaydata solution to realize in-store dynamic pricing. 360pi is working with Displaydata to incorporate Electronic Shelf Labeling (ESL) to give physical stores the ability to employ dynamic pricing.

The new solution is designed to provide retailers with the ability to automate and increase the frequency of in-store price updates without the cost, time, effort and error associated with manual price changes

"We are committed to providing our customers with the best value, and the combination of 360pi’s best in class price intelligence with Displaydata’s electronic shelf labels, is central to our ability to deliver on this promise," said Jeff Bingaman, CIO, Crutchfield Corp. "We take care of the showrooming for our customers, which lets them focus on selecting the best product for their needs. Enhanced customer trust translates to increased store conversions, shortened sales cycles, and more repeat business."

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