Would you like to try out merchandise before you commit to the purchase? Online retailers are bringing innovative ways to attract potential customers with a Try-Before-You-Buy eCommerce strategy. eBay’s latest move to invest $133.7 Million in India’s Snapdeal site, positions Snapdeal for potential buyout. Are millennials influenced by what their peers share on social networks? 2014 Harris Poll reveals that 68% of 18-24 year-olds are! The world’s largest Bitcoin exchange grinds to a halt as 744,000 Bitcoins went missing earlier this week.
eBay Leads Investment in India based Shopping Site- Snapdeal
Online shopping website Snapdeal has a leading investor. eBay is investing $133.7 million in the eCommerce site making eBay a large majority investor. The investment could potentially lead to an outright buyout down the road. Founded in 2010, Snapdeal offered a similar strategic model as Groupon but later evolved to a general online eCommerce marketplace. With 20,000 business listings and a multitude of product varieties, Snapdeal is dubbed as the eBay of India.
Are Millennials Influenced by What Peers Share on Social Networks?
According to this years 2014 Harris Poll for the Webby Awards, 68% of 18-34-year-old social media users are somewhat likely to make a purchase after seeing a friend post about it, while social media user’s aged 65 and older are not at all likely to be influenced by a friend’s post (78%). The study by eMarketer revealed that women held the majority when it comes to sharing new products and services via social networks. On the other hand, only 6% of millennial males always share photos and thoughts when a new product is tried.
Online retailers selling jeans, eyeglasses and shoes are shipping products to customers allowing customers to try before they buy. This eCommerce strategy is designed to capture potential customers. Here’s how it works; Customer credit cards will be billed when an item is not returned within the allotted time frame (approximately 1 week). Shipping is free to and from online customers. Will it be a big hit or the next fad? Some online retailers say it works for busy professionals, while others view it as a much slower way to shop.
The World’s Largest Bitcoin Exchange Grinds to a Halt
Earlier this week buzz surrounding the virtual currency rose, as more than 744,000 Bitcoins went missing due to “malleability-related theft”. As a result, the world’s largest Bitcoin exchange platform came to an abrupt halt. Mt. Gox’s Chief executive says it was at, “ a turning point”. Bitcoin has recently experienced acceptance as a method of payment, attracting a number of large VC’s.
Canadian start-up BufferBox is winding down it’s services as the Waterloo based company gets acquired by Google for an estimated $25 million as of November 2012. BufferBox’s 24/7 parcel kiosks located in Toronto and San Francisco, will no longer be accepting packages beginning March 31st 2014 and April 21 2014 will be the last day to pick up your packages from BufferBox locations.