>Share this post<
April 16, 2020
How it will benefit retailers.Kooomo – which normally operates on a revenue-share model once a merchant is set-up – has agreed to waive its setup fees that usually consist of about €40,000. The only cost to the retailer is a fixed fee or revenue share on goods sold. Opening the service up to immediate set up without the need for a financial resource.
Ciaran Bollard, CEO of Kooomo says “We made this decision to help support retailers in this trying and uncertain time. No one knows when current restriction measures will be lifted or if a second wave of this deadly virus may be expected. This is a great opportunity for retailers and brands to utilise this support in conjunction with government aid packages such as the COVID-19 impact scheme. We all must help each other out in these trying times and accelerating eCommerce initiatives is a great way to kick-start trade and future proof your business.”
However, the initiative put forward by Kooomo is about far more than simply creating an online presence – the idea is to future proof businesses beyond the lockdown. With the uncertainty surrounding the aftermath of Covid19, Kooomo believes that an omnichannel solution will be the key to bringing people back to bricks and mortar when the time comes, according to Daniel Viniegra, Head of Growth, Spain/ France;
“People are likely to be wary of going to stores for the next year/year and a half as the fear of Covid19 will likely still be present. More than ever eCommerce will need to do its job in supporting the physical stores that will remain open (although there will probably be less than we had a few months ago). However, there will still be people on the streets going shopping and perhaps shops will convert to pick up locations and increase the use of click and collect to fuel that. We will see, within the next few months, how the whole user experience is going to change. It’s not going to be a total shift toward eCommerce forever more but I think we’ll see a few changes and trends in how people experience brands and retailers.”
Cloud commerce solutions such as Kooomo then allow all of those options, channels, and touch-points to be synchronised – providing a fluid customer experience, regardless of what way they are shopping. Therefore, this is no quick-fix solution but rather an acceleration towards longevity.
More to explore
In the next few years, we are foreseeing an impressive increase for the global retail industry. While this can be beneficial for the global eCommerce industry, it also means that there will be more competition, as well.
European Data Protection rules were launched back in 2018, to protect the confidentiality of our personal data but even four years later, there is still a lack of understanding among companies and consumers about how to comply with the best practices. Big tech companies, like Google or Amazon, usually refer to the acronym GDPR, to explain the rules that verify the data, so it is not used inappropriately, but to add details to create confusion.