PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Web merchants can reduce expenses with simple tweaks, an IRCE speaker says.
In the post-recession era retailers, particularly small online merchants, have to combine the right mix of products and marketing, along with a disciplined approach to spending, to win sales, says Matt Moffett, president of Satellite Radio Superstore.
“We reduced our costs by looking at our business in segments—marketing, processing, staff and shipping—and figuring out how to reduce expenses in each of those areas,” he says.
“By doing this we know upfront what our total cost for shipping will be and eliminate the back-end fees from UPS and FedEx that damaged our bottom line,” he says.
Moffett will be joined in his session by Barney Stone, president of Stone Edge Technologies Inc., and Dave Reeder, president of Shop.CaptainDaves.com. Each presenter will talk about initiatives that saved them money. Then the session will open up so that audience members can share their own expense-reducing ideas.
Internet Retailer’s editors asked Moffett to speak because in 2003 he launched Satellite Radio Superstore, an online retailer specializing in Sirius XM Satellite Radio products and services. Since then he has developed the business into one of the largest online retailers for satellite radio in the country. Previously, he was involved in Internet start-ups and emerging technology companies.