Online Retailing in South Korea

Posted on June 21, 2014 by bermanevansretail
Borderfree is a firm that assists client companies with their global online efforts: “Our end-to-end solution breaks down borders and all barriers to sell your product where it’s never been sold before. And done with the least amount of effort on your part.”
Recently, Borderfree produced a report about the opportunities for online retailing in South Korea:
“With three-quarters of Koreans owning smartphones, a dynamic mobile marketing and commerce strategy will help retailers compete. Koreans are highly responsive to online sales; they have money to spend and are swayed by bargains — meaning deals posted in online communities can go viral fast. The percentage of discount-priced SKUs purchased by Koreans is the highest across the Borderfree network.”
“South Koreans frequently visit and study in the U.S., exposing them to U.S. brands and highlighting the dramatic cost-savings available from buying abroad. However, language is still a significant barrier to comfort and conversion — and translated content is strongly encouraged. Consumer behavior is shifting as savvy shoppers learn to buy goods abroad. An increasing number of Koreans shop overseas retailers to find lower prices, leverage parcel-forwarding to save on shipping costs, and join online communities to resell imported items they don’t want.”
“With its strong currency, demonstrated zeal for shopping online, broad access to credit cards for online payments, and world leadership in broadband speed and penetration, South Korea is expected to be a top growth channel for E-commerce.
Take a look at Borderfree’s infographic on E-commerce in South Korea.
 

 

Posted in Global Retailing, Online Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 7: Communicating with the Customer | Tagged , , , , , , , , , , , | 1 Comment

Does Corporate Social Responsibility Pay Off?

Posted on June 20, 2014 by bermanevansretail
This question is one that a number of company executives and their stockholders treat importantly. Although “doing good” is a goal for most of us, companies typically want to know how “doing good” impacts the bottom line.
New research from Nielsen has found that the answer is yes:
“Corporate social responsibility, also referred to as corporate citizenship or conscious capitalism, is practiced by companies dedicated to making a positive social or environmental impact on society. More and more, consumers expect companies to do one or the other, if not both.”
“But do consumers really care about conscious capitalism when it comes to buying decisions? Are they willing to pay more for products and services that come from companies that engage in actions that further some social good? Assuming a positive ratio between a stated willingness to pay and an actual willingness to open one’s wallet, Nielsen’s global survey on corporate social responsibility found that the answer is yes for a growing number of consumers around the world.”
Click the chart to read more.

 

 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 7: Communicating with the Customer | Tagged , , , , , , , , , , , | 1 Comment

The 2014 Convenience Store News Category Captains Awards

Posted on June 18, 2014 by bermanevansretail
Each year, Convenience Store News selects the best suppliers in 10 product categories.
As CSN notes:
“The Category Captains awards honor suppliers for their category management prowess demonstrated through their partnerships with convenience store retailers. This year, 10 winners have been selected based on compelling examples of key category management initiatives over the last 12 months.”
“Category Captains are leaders. They have the ability to think strategically, navigate change, and implement new processes and products. This year’s entries demonstrate that from food service to snacks, the supplier community continues to demonstrate its understanding of convenience store owners’ goals and offers innovative ways to achieve them — elevating the visibility and relevance not only of their own company brands, but also of the categories as a whole.” 
Click the image to see the list of 2014 winners — from Anheuser-Busch to Swisher International.

 

 

Posted in Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer | Tagged , , , , , , , , , | 1 Comment