Can Mobile Commerce in China Help Close the Wealth Gap?
In a recent article we discussed the recent television and radio ban that China’s State Administration of Radio, Film and Television (SARFT) placed on luxury brands to ease the growing national tension concerning the country’s burgeoning wealth gap. This displeasure has not, however, stopped active consumerism nor digital activity in the country in the slightest.
FashInvest recently reported on the growing e-commerce platform in China and how it is on its way, if not already, to surpassing the United States on becoming the largest online shopping market. In growing its market, it is notable that China has not ignored their lower tier cities and their inhabitants in making sure that they too have mobile access. Even if at as low as 2G speeds; Chinese companies have made very visible efforts to ensure that all of their citizens have an opportunity of access.
ShopSpot Raises $630,000
Thailand’s mobile commerce startup ShopSpot has just raised S$779,000 (US$630,000) from Jungle Ventures with money from Singapore’s government and SingTel Innov8.
ShopSpot follows a consumer-to-consumer model and focuses mainly on mobile applications that help its shoppers- tap, swipe, view, and buy and its sellers- snap, add info, and sell.
Zalora Indonesia Celebrates its First Anniversary
Zalora Indonesia is ringing in their first year with a fabulous incentive for their customers. The fashion e-commerce site is celebrating its first anniversary by offering shoppers a 20 percent discount on all items Monday (today!) from 11 p.m. to 12 a.m.
The sale also marks the beginning of a customer loyalty program and there will be cash back vouchers with no minimum purchases and Zalora Indonesia will also expand its same-day delivery service to 100 cities.
Persado Bags $15 Million Round of Funding Led by Bain Capital Ventures
Persado, creator of data-driven marketing software, today announced $15 million in Series A funding, led by Bain Capital Ventures. The company plans to use the capital to significantly expand its sales and marketing efforts, more than double its spend on R&D, and establish a new headquarters in New York City.
Advanced digital marketers have a wide variety of quantitative, data-driven tools available to them today to target, segment and price offerings to consumers – but have not found an effective way to craft the phrases that reliably persuade customers to act. Instead, marketers are forced to blindly create messages with limited insight into their potential customer impact. Persado replaces this guesswork by applying advanced statistical techniques to large datasets in order to rapidly and efficiently generate and test a large number of digital messages and determine the most powerful language to improve response rates and conversion for a given offer.
Frenzoo and Teen Vogue Partner to Create Virtual 3D Fashion Game for Mobile Devices
Ever wonder if you had what it takes to work as an intern for one of the most successful fashion magazines? Well with Frenzoo’s new app for smartphones and tablets, you can see if you have the skill as well as the style!
Frenzoo and Teen Vogue have teamed up to create a virtual game that puts the player into real life scenarios that fashion interns at Teen Vogue would have to do. The player is given assignments and has to style themselves or models for the occasion. Your boss at Teen Vogue then judges the outfit and you are awarded money based upon your score.
The graphics for this game are truly great, the 3D person and the clothes look almost real, this partnered with the real scenarios can make it seem like you are actually fighting for an interview and position.
Nomi Raise $3M to Help Retailers with the Growing Gap between Online and Offline
Nomi, the World’s First Omni-Channel Engagement Platform to Provide Retailers With a Single View of Their Customers Across Online, Mobile, and In-Store Channels, announced today that it has closed $3 million in seed financing led by First Round Capital. Additional investors include Greycroft Partners, SV Angel, Forerunner Ventures, Ralph Mack, Dave Tisch, Andy Dunn (CEO, Bonobos), and Sam Decker (CEO, Mass Relevance and former CMO, Bazaarvoice). Nomi’s technology platform enables brick and mortar retailers by leveraging their existing infrastructure to measure, analyze, and engage their customers in real time. Nomi’s solution integrates with existing CRM, loyalty, and e-commerce platforms, allowing retailers to leverage both offline and online data to provide loyal customers with more personalized service.
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From the Archives
Sprooki Launches White-Label Retail Platform Featuring a Location-Based App for 313@Somerset Mall
Singapore’s Sprooki announced its launch of a white-label retail format that will include a location-based offers app at the 313@Somerset mall in Singapore After receiving funding of $ 483,000 about a month ago, the company created a retail platform with 313@Somerset mall to work with the Sprooki application. Shoppers making use of the application receive notifications when close to a participating retailer that offers savings or promotions and partnering up with the mall is a fantastic way for the application’s marketing efforts as shoppers who have never heard of the app are able to try it out first hand and experience savings on their purchased merchandise. This concept comes at the perfect time as many retailers are having a hard time keeping up with the digital world.
FashInvest Exclusives
HEADS UP: MALLS COULD DIE SOONER THAN ANYBODY THINKS.
Department stores and specialty chains are in for a shock. Why no one sees it coming, and what retailers can do to survive. It’s no secret that malls are in danger.
