ECOMMERCE

The brands with the best online performance and shopability are…

BY Deena M. Amato-McCoy

When it comes to the top 10 brands that offer the best online experiences, only three traditional retailers make the grade.

Automobile supplies company Summit Racing (scoring 99.10), Saatva Mattress (98.67); Birchbox (98.66); Toyota, (98.25), and Whole Foods Market (98.24) round out the top five retailers that offer the least downtime and minimal disruption for shoppers. Only two other physical retailers, J. Crew (97.47) and J.C. Penney (97.45) made it into the top 10 brands in this category.

This was according to the “Online Health & Usability Index — the OSHU Index.” The study from Shoppimon, trends KPIs such as site speed, server downtime, business downtime (the percentage of time a purchase cannot be completed on the site), and technical issues. The index compares online stores within nine vertical industry categories: apparel, automotive supplies, beauty, consumer electronics, department store, food & beverage, health & wellness, home & garden, and jewelry.

Among the Top 10 OSHU Index Overall Winners, no business had downtime of more than .1%, and all had 0% server downtime during the time evaluated. Among this diverse group of brands, seven of the nine aforementioned vertical categories made it into the Top 10. The strongest performing vertical categories are automotive, beauty, and food and beverage industries, with two online stores each. No jewelry or consumer electronics sites made it into the top 10, data revealed.

“Top performing online stores on the Shoppimon OSHU Index like Summit Racing, which earned the top spot on our inaugural ranking, are able to maintain lightning fast speed with minimal downtime and disruption for shoppers,” said Roy Rosinnes, CEO and co-founder of Shoppimon.

“With a full load time of 0.36 seconds and zero business downtime, Summit Racing deserves kudos for providing a great brand experience for consumers as well as maximizing bottom line sales.”

Amazon is noticeably missing from the overall Shoppimon OSHU Index. Besides taking into account that Amazon “behaves as a huge online mall — with many independent, and separately managed stores, open for shoppers to visit 24/7,” according to the study, the company’s often lauded customer experience still fell short among its ranked competitors.

Based on a small sample of Amazon stores that measured whether Amazon’s “gold standard” customer experience extends to its onsite shopping performance, the Amazon stores Shoppimon evaluated received an average OSHU Score of 92.08. While this is nearly 4 points ahead of the average score of the full index, it is still 6 points behind OSHU’s Top 3, data revealed.

Broken up by category, J. Crew, ASOS (96.94) and Talbots (96.78) lead the pack in online apparel experiences. Birchbox, Lookfantastic (97.13) and Beauty Bay (97.02) outshine their beauty competitors, and J.C. Penney, Marks & Spencer (96.86) and Sears (96.62) lead online department store experiences.

When it comes to shopping online for food and beverages, Whole Foods Market, Nuts.com (97.14), and SodaStream (94.97) lead the pack. While online jewelers didn’t place in the overall top 10 overall online experiences, Ritani (96.83), Tiffany & Co, (94.16) and Zales (92.81) lead the charge in customer experience for their segment.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Upscale home furnishings retailer repays second lien term loan

BY Deena M. Amato-McCoy

RH has repaid its second lien term loan — in just over three months after securing it.

The upscale home furnishings retailer said that it has repaid its $100 million second lien term loan on Oct. 10. The annualized cash interest rate on the second lien term loan was approximately 9.5% as of the date of retirement.

The company funded the repayment with borrowings on its asset backed credit facility, which bears current annualized interest of approximately 2.75%, as well as existing cash on its balance sheet. Between repaying the loan early, and having a related reduction in interest expenses, RH expects an incremental $0.05 benefit to its fiscal 2017 adjusted diluted earnings per share, the company said.

“Based on our strong business performance, significant cash flow generation, and confidence in our future outlook, we are retiring the second lien term loan just over three months after securing it,” said Gary Friedman, RH chairman and CEO.

“The $100 million second lien term loan was intended to act as a short term bridge loan to help fund the company’s purchase earlier this year of nearly one-half of its outstanding shares, which has created, and we believe will continue to create, significant shareholder value,” he added. “The early debt retirement is expected to be incremental to the company’s fiscal 2017 adjusted diluted earnings per share by approximately $0.05.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Sears Canada is going out of business

BY Deena M. Amato-McCoy

It’s closing time for Sears Canada.

The long-struggling department store chain said on Tuesday that it is seeking court approval to liquidate all of its remaining stores and assets. The retailer expects the court to hear the motion on Oct. 13. Pending approval, liquidation sales could start as of Oct. 19, and continue for 10 to 14 weeks, according to the retailer.

In June, Sears Canada filed for protection from its creditors and announced it would be restructuring under Canada’s Companies’ Creditors Arrangement Act. At that time, the company got court approval of a sale and investment solicitation process (SISP) to seek out proposals for the acquisition of, or investment in, the Sears Canada Group’s business, assets and/or leases, and to implement one or a combination of proposals.

Sears Canada received and implemented going concern transactions for various lines of business. Despite exhaustive efforts, no viable transaction for the retailer to continue as a going concern was received. Thus, Sears Canada, with the recommendation of its advisors and approval of the Monitor, FTI Consulting Inc., is seeking an order to commence a liquidation that would result in a wind-down of its business following court approval.

“The company deeply regrets this pending outcome and the resulting loss of jobs and store closures,” according to Sears Canada.

The store closures will result in in loss of about 12,000 jobs, according to Bloomberg.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...