The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
The right mix of e-mail marketing and online coupons can drive multi-channel sales, Matt Corey, vice president of marketing and e-commerce at The Bombay Co., will tell attendees at the eTail 2004 East conference in Fort Lauderdale, FL, next week.
The right mix of e-mail marketing and online coupons can be a powerful combination to drive multi-channel sales, Matt Corey, vice president of marketing and e-commerce at The Bombay Co. will tell attendees at the eTail 2004 East conference in Fort Lauderdale, FL, next week.
Over the course of a four-day holiday sale earlier this year, an online coupon campaign helped generate more than $1 million in store sales, Corey says.
With the implementation of new point-of-sale technology that`s integrated with Bombay`s store and e-commerce systems, customers were able to download a $50 savings coupon and redeem it on a wide variety of store merchandise. When the coupon was presented, Bombay sales associates scanned the coupon’s bar code information into the store’s point-of-sale system or entered a special code that helped the e-commerce unit track conversion rates based on the original e-mail campaign.
In the last several years, Bombay has increased its e-mail marketing database from 20,000 names to more than 600,000. To drive traffic to BombayCo.com and make customers aware of upcoming coupons, the multi-channel retailer conducts targeted e-mail campaigns and employs other marketing strategies such as bag stuffers. The stuffers advertise that if customers sign-up for Bombay e-mail promotions or visit BombayCo.com they can use or download coupons which can then be used across all merchandising channels or get notice of upcoming sales and special events.
“They can come to web site and download a coupon which can be used in our stores,” Corey will tell eTail attendees. “What’s important for us is scanning the coupon or entering a special code at the point-of-sale which helps us measure how effectively we are using the web to generate multi-channel traffic.”
Bombay, which reported 2003 web sales of $17.2 million, sees e-commerce as an important component of its ambitious goal of growing its overall retail sales 66% to $1 billion as quickly as possible.
Corey will be speaking at 12:30 on Tuesday in the Track B break-out session.