Author: JT

Citibank to bring Cyber Monday to India

| December 5, 2012

 

Citibank has ambitious plans for a Cyber Monday event in India

This year’s Cyber Monday in tCyber Monday Flag of Indiahe U.S. broke sales records of previous years largely due to the showing of mobile commerce. Consumers throughout the country took advantage of aggressive deals from retailers on a wide range of products, making Cyber Monday one of the most successful shopping days the retail industry has ever seen. India may soon get its own version of Cyber Monday, which is being pushed heavily by Citibank.

US shopping season serves as inspiration for new venture

Citibank has ambitious plans to institute Cyber Monday in India in order to take advantage of the growing number of consumers that are intensely interested in electronics. The financial services group aims to promote mobile commerce among these consumers by giving them a way to purchase products from their mobile device rather than use a computer. Cyber Monday has, since 2005 when the day was minted by the retail industry, been responsible for billions of dollar worth of sales for retailers and Citibank believes that the time is right for the shopping phenomenon to come to India.

Savings available to Citibank customers only

If Citibank can successfully bring Cyber Monday to India, only Citibank customers will be able to take advantage of discounts that retailers participating in the event offer. Citibank expects that 17 of India’s most popular e-commerce and shopping platforms will offer discounts on products as high as 60%. Currently, the shopping event is scheduled to take place on December 5 and will be India’s first ever “Cyber Sunday.”

India may be able to see success through Cyber Monday initiative

Though any Citibank customer will be able to access the deals offered to them through a wide range of platforms, Citibank is hoping to engage mobile consumers in a powerful way. Mobile commerce is one the rise in India, especially as communities become more affluent because of the rapidly growing economy. In the U.S., mobile consumers accounting for a huge portion of the sales made on Cyber Monday. Citibank is keen to see similar results mimicked in India.

Google acquires Incentive Targeting

| December 3, 2012

 

Google announces acquisition of retail coupon firm

Google has announced that iIncentive Targeting Acquired by Googlet has acquired retail coupon firm Incentive Targeting. The massive technology company has been showing increasing interest in mobile commerce and marketing recently, hoping to engage a new generation of consumers that have become highly reliant on mobile devices. According to Mike Dudas, a member of Google’s mobile commerce division, the acquisition of Incentive Targeting will help Google focus on coupon marketing campaigns that will be directed at very specific demographics.

Incentive Targeting boasts of advanced sales analysis system

Incentive Targeting was founded in 2007 and has partnered with several retail chains to develop highly targeted marketing campaigns. Earlier this year, the company was granted a patent by the U.S. Patent and Trademark Office for “a computer-implemented method and system for conducting a search of electronically stored information.” This system enables advertisers to analyze sales information and use this information to develop highly specialized coupon campaigns.

Google shows interest in coupons for advertising

This system is likely what caught Google’s eye in the first place. The company has made major strides in the field of online advertising, especially through engaging mobile consumers. These consumers have proven especially responsive to participating in mobile marketing campaigns that provide them with some sort of special offer, such as digital coupons. Though Incentive Targeting’s system is often used for physical marketing campaigns, it can also be tuned to be used for online business, something that Google has shown interest in doing in the past.

Mobile marketing continues to be a major focus of Google

Mobile marketing is becoming an ideal way to engage the growing audience of mobile consumers. More people have access to mobile devices now than they ever have, creating an opportunity for advertisers to establish a constant connection with these consumers. If Google can leverage the technology developed by Incentive Targeting to engage these people, it may be able to see a major uptick in its mobile marketing and online advertising business.