PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
RichFX, provider of 3-D imagery on retail web sites, expects to double its retail client base this year as consumer demand converges with retail vision for product presentation online.
New York-based RichFX Inc., a technology company that provides 3-D imagery on such retail web sites as Neiman Marcus, Coach and Speigel, expects to double its retail client base this year as consumer demand converges with retail vision for product presentation online, Johann Butting, president and CEO, tells InternetRetailer.com. Currently, RichFX has about 20 clients. "We see three effects coming together that makes us confident that we can double our business," says Butting.
"First, there is increasing recognition of the way products are sold over the Internet today. Many sites seem just too boring and retailers are starting to realize that if you can bring the buying and shopping experience to life online then you can be successful.
"Secondly, we’re in one of the strongest growth phases for the Internet. People are getting more comfortable shopping online and consumers are starting to look for more--they are looking for sites that offer more of an experience. That is one of the most prominent trends in the last nine months." He notes that adding music, better graphics and 3-D viewing functions all enhance the online experience for the shopper.
"The third effect is that we are offering the technology that allows a retailer to deliver a shopping experience that consumers and retailers are looking for. We enable retailers to reach almost 100% of all Internet users because they can download our compressed images even with a dial-up modem."