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BizReport : Ecommerce archives : June 24, 2011

How registry sites are helping luxury brands

With billions spent online each year and with consumers doing product research online before buying in-store, retail brands are finding a lot to talk about in the ecommerce space. But many may be dwarfed by the size of online giants including Amazon and Ebay or brick-and-mortar stores with a huge online presence like Walmart or Target. One expert believes registry sites are an option that more retail brands, especially luxury brands, should look into.

by Kristina Knight

Kristina: What do registry sites/platforms offer retail brands online?

Nancy Lee, President, Our Universal Gift Registry Software enables ecommerce websites to take part in the billion dollar gift industry in a more proactive way. The software enables customers to easily create a universal gift registry directly on participating websites and add items from that website, but then continue on and complete their registry with items from other websites that they want as well.

Kristina: Specific to luxury brands, is it important for these brands to begin using registry type platforms/interfaces for their clientele?

Nancy: Many luxury brands have wish lists, but wishlist are a personal function and do not enable friends and families to purchase gifts from those lists or even know what is on them. A universal registry is a great enhancement for luxury brand websites because it gives direct access for gift purchases and cuts down dramatically on returns.

Kristina: Small businesses are struggling to find their place in ecommerce. Some are using social networks, some stick with advertising. What do gift registries offer SMBs in the online space?

Nancy: A gift registry is a way to get incremental sales. Customers who open gift registries are often just before a large life changing event that can be very expensive, such as getting married or having a baby. They may want certain items, but are hesitant to put their hand in their own pockets at this time to buy things. However, they know that friends and family will be happy to purchase these items for them. A gift registry gives customers more flexibility to get the items that they want or need from the place that they want them from. Small businesses can easily place a universal gift registry on their website and give their customers the ease of knowing that they can register for those items.

Tags: ecommerce, gift registry, MyRegistry, online registry, online shopping, registry websites

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