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media-features

Week in Tech: 05/03/2014

What's new in the week of technology.

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HOME(PAGE) ALONE IN CHINA: Chinese consumers spend almost no time on the official e-commerce sites of brands, instead seeking product information on social media platforms and spending a disproportionate amount of time on five of the country’s dominant Web sites, according to a study on e-commerce shopping habits released by the Boston Consulting Group.

FRESH FACES FOR GLAMOUR: Glamour Sales Holdings Ltd., the e-commerce site that partnered with Neiman Marcus Group to launch its Chinese e-tailing site, received a $65 million investment from Chow Tai Fook Enterprises and Investec Bank Plc. Neiman Marcus pulled its $38 million investment from the business.

WEARABLE AMAZON: Amazon is getting behind the wearable technology category. The e-tailer launched a Wearable Technology storefront, which sells fitness and wellness trackers, smart watches, health care devices and wearable cameras.

ALIBABA’S PRIME TIME:
Chinese e-commerce giant Alibaba Group Holding Ltd. invested $1.22 billion in Youku Tudou Inc., China’s largest Internet television company.

TWEET GROWTH CONCERNS:
Shares of Twitter fell 6.2 percent this week to $39.02 as investors wondered whether the company was growing fast enough. The microblogging platform said first-quarter revenues jumped 119 percent to $250 million. The market, however, appeared more interested in growth in monthly active users, which slid to 25 percent in first quarter from 30 percent in the fourth.

TARGET’S TOP TECHIE:
In the wake of its massive data breach last year, Target Corp. named Bob DeRodes chief information officer. He will lead the company’s information technology transformation. Target, which has been working toward adopting chip and PIN technology for the last decade, said it has accelerated its $100 million investment to put the technology in place by 2015.

MOBILE DRIVING SOME SHOPPERS TO STORES:
Mobile technology is reshaping shopping habits among Americans, but perhaps not in the ways many assume — with smartphones and tablets driving 22 percent of consumers to shop in stores more often, according to a new survey from Gallup.

OLD SCHOOL COMPETITION FOR THE CLICK CROWD:
Traditional advertising platforms are still the way to reach American millionaires, according to the latest affluence survey from The Shullman Research Center. The study noted that traditional media such as TV and printed publications, particularly printed newspapers, are “ranked at the top of the list of ad channels for millionaires regarding their ability to engage the wealthy.”

BUILDING OUT THE WINDOW AT BARNEYS:
Barneys New York is placing more emphasis on editorial, hiring Marissa Rosenblum to serve as the first in-house editorial director of its Web site, The Window.

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