Retail
Guitar Center Is Officially Filing for Bankruptcy
Following a report last month that Guitar Center was considering filing for bankruptcy, the instrument retailer has indeed decided to go that route in an effort to save the company. According to a press release, Guitar Center will file for Chapter 11 bankruptcy, striking a deal with key investors and… Please click the link below to read the full article. Guitar Center Is Officially Filing for Bankruptcy Jon Hadusek You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
How COVID-19 is Driving eCommerce in South Africa
The COVID-19 pandemic has taken a serious toll on shopper behaviour, not only from a decline in spending but also in how they shop. With social distancing restrictions, a possible second wave of infections, and adaptations to new lifestyles, the crisis is driving more traffic to South African eCommerce merchants than before. Recently, the GetApp SA Customer Experience Survey asked South Africans how the pandemic is changing the way they shop – here’s what they had to say: How has shopper behaviour changed during lockdown? During the various levels of lockdown, there have been varying degrees of social and merchandise restrictions as well as depreciating disposable income. Many people can’t shop as they did before and this has led to 42% of people saying that they have spent les...
FNB Expects 10% eCommerce Transaction Boost on Black Friday
FNB says that it is expecting a 10% increase in the total number of eCommerce transactions over Black Friday and Cyber Monday – as many consumers who participate in Black Friday may opt to shop online instead of going into brick and mortar stores. This is comparable to 2019 where Black Friday weekend transaction volumes on FNB POS (Point of Sale) devices grew by 32% compared to 2018, while eCommerce transactions grew over 30%. FNB also says that its merchants have also upped their game by investing in their platforms to ensure a seamless sales experience, regardless of the types of devices used by consumers when shopping. One such example is increased support for QR Code payments, where the customer opts to checkout through simply scanning the presented QR Code to pay. FNB Virtual Cr...
3 Predictions for the Future of Retail
For many industries, predicting the future during a pandemic would be difficult – if not impossible. Retail is different. Why? Because COVID-19 has acted as an accelerant for digital transformation – fuelling and amplifying trends that have been creeping in for years. You could even call this “Covid acceleration.” McKinsey recently determined that, over a 10-week period in 2020, digital business penetration had increased by the same amount as in the previous 10 years. So, considering this supercharged digital trend, here are three predictions for retail in the coming year: 1. Automation everywhere The COVID-19 crisis took almost every business by surprise, decimating many which were not prepared for a move to online sales. It has prompted many operational changes that create efficien...
Mobile in Africa is Offering Amazing Discounts this Singles’ Day
Everyone’s favourite retail holiday has always been Black Friday, but have you heard of Singles’ Day? The holiday was introduced in the early ‘90s by Chinese university students as a commemoration of their single status. The essence of the festival was for singles to enjoy the freedom and buying power that their married counterparts often could not. Singles’ Day is celebrated on 11 November, – or 11:11 – to denote solo living. The date has now become a highlight of the retail calendar across the globe, where single people treat themselves to gifts and presents to celebrate their independence. /* custom css */ .tdi_3_e2f.td-a-rec-img{ text-align: left; }.tdi_3_e2f.td-a-rec-img img{ margin: 0 auto 0 0; } To support this annual event, retailers slash their prices so that consumers can fund th...
4 Ways to Safely and Securely Navigate Black Friday Online
Black Friday in 2020 is expected to see more South Africans than ever before shopping, and paying, online. According to a recent McKinsey & Company consumer sentiment survey, 40% of consumers intend to continue online shopping spend even when the COVID-19 pandemic is over. Thomas Pays, CEO and co-founder of digital payments company Ozow, says the sharp rise in online shopping and eCommerce has highlighted the need for innovative technology-driven solutions that allow shoppers to shop and pay safely online – including consumers who don’t have credit or debit cards. With this year’s Black Friday deals running over four weeks at many retailers, Pays’ says the way to successfully navigate Black Friday responsibly relies on four factors: Stick to a plan and set budget. The overwhelming numb...
Pick n Pay Introduces Smart Shopper Digital Receipts
Pick n Pay has revealed that, instead of receiving a printed receipt, Smart Shoppers can now have their till receipts sent directly to their email. These will also be loaded onto the customer’s PnP mobile app profile for 90 days so that they are saved in one place for easy access and review. This is one step in the retailer’s efforts to reduce unnecessary waste as many till receipts land up in landfills as they are often lost in rubbish bins and not recycled. “We are always looking at ways we can reduce waste within our stores and help our customers lead easier lives by making their shopping experience quicker and more convenient. This latest Smart Shopper enhancement ticks all these boxes,” says John Bradshaw, retail executive: marketing at Pick n Pay. “Customers are already telling us th...
Why Consumers should be Cautious when Entering Banking Details Online
The fast pace of digital progress in the financial world has made it easier than ever for people to transact, make purchases, and manage their money online. For most people, speed and convenience are two of the most important benefits that a digital transaction offers, and many businesses invest significantly into developing digital processes that make such fast and easy transactions possible for their online customers. One example of this digital transactional enablement is a process called screen-scraping. Put simply, this is the process of copying information shown on a digital screen like a computer or mobile device, so that it can be used in another digital screen or process. Ravi Shunmugam, CEO of EFT Product House for FNB, explains that there are various examples of screen-scraping ...
Guitar Center May File for Bankruptcy After Missing $45 Million Payment: Report
Venerable music gear retailer Guitar Center is preparing for a possible bankruptcy filing, according to a new report from The New York Times. The pandemic has been tough on all areas of the music industry, and Guitar Center is no exception. The company missed an interest payment of $45 million earlier this month, setting off a 30-day grace period that ends in default. According to the Times, Guitar Center is in talks with creditors about a plan that would see the company file for bankruptcy, with the hope of balancing its books by early 2021. Guitar Center generated $2.3 billion in sales in its most recent fiscal year but has about $1.3 billion in debt. Guitar Center has faced financial struggles for nearly a decade, as its struggled to build an online shopping experience to riva...
How Post-Lockdown Shopping Figures Represent Changing Retail Landscape
The impact of COVID-19 on both consumers and retailers is becoming evident. Retailers are under pressure to reimagine and transform their businesses, build-out eCommerce solutions and expand their online offerings. Consumers, having already navigated a difficult year, and still uncertain about what the future holds, are likely to spend more conservatively over the next quarter. New data from Mobicred’s Consumer Spend index reveals some interesting trends as South Africans settle into post-lockdown shopping. While the previous quarter’s figures showed a higher level of eCommerce adoption, this spike was to be expected amid Coronavirus infection fears and consequent limitations on physical shopping during lockdown. Despite adoption rates levelling off, the data shows an increase of 9% i...
Will Black Friday Contribute Towards Economic Stimulation in South Africa?
Despite 2020 being a very tough year for almost everyone, there’s nothing to be gained from not recognising Black Friday and the festive season at large. This is according to Matthew Leighton, spokesperson for OneDayOnly, who says that now more than ever, the economy requires stimulation and regrowth – and Black Friday is the biggest opportunity the eCommerce industry has to contribute towards that economic stimulation. Is this the year more people turn to online shopping? “We’ve seen consistent growth in Black Friday numbers and we expect this to continue,” says Leighton. Between 2018 and 2019, the home-grown daily deals site saw the number of Black Friday shoppers double, dwarfing the numbers seen on a regular day. “Internationally, well-established eCommerce markets are still experienci...
Pick n Pay Acquires Bottles, an Online Grocery Service
Image sourced from Guzzle Pick n Pay has acquired Bottles – an online grocery delivery service. The agreement, which concluded on 20 October, is expected to strengthen what is said to be sub-Saharan Africa’s ‘largest and most popular online grocery business’. Bottles was launched in 2016 as South Africa’s first alcohol on-demand delivery app, and partnered with Pick n Pay in 2018. Its offer was the first of its kind to promise that orders would be fulfilled within 60 minutes. Following the prohibition on the sale of alcohol in March, Bottles re-purposed its app within four days, emerging with a new offer to deliver on-demand “Grocery Essentials” to customers. Since its move to groceries on 31 March, the app has achieved more than 700,000 downloads, with more than 350,000 registered users. ...
