MOUNTAIN VIEW, Calif., Oct. 17, 2006 (PRIMEZONE) -- NearbyNow, Inc., an online service that allows consumers to search all products, brands, and sale merchandise available at local shopping centers using the Internet or mobile phones, today announced the expansion of their service to shopping centers in 20 U.S. cities. Based on the recent successful introduction of its service at the Eastridge and Westfield Valley Fair shopping malls in Northern California, the company has expanded its partnership with the Westfield Group and other mall developers to roll out to shopping centers in 20 U.S. metropolitan cities over the next nine months. NearbyNow also announced the planned availability of its mobile phone solution by December of this year.
NearbyNow is the first company to deliver a Web-based service for shopping centers and retailers to use Internet search technology to drive in-store foot traffic. By making the local mall or shopping center searchable, shoppers can go online and explore available products from mall retailers before heading out the door to buy. Shoppers can also "reserve this product," ensuring that selected items are available and waiting in the right size/color before going into the store.
"When people shop online, more than 60 percent of the time they end up buying in-store," said Scott Dunlap, Chief Executive Officer of NearbyNow, Inc. "NearbyNow provides shopping centers and its retailers an opportunity to harness this trend, and drive more in-store purchases. We launched the service at the Eastridge Shopping Center four weeks ago and to date, the center's web site traffic has more than tripled and 93% of searchers found products matching their requests. Consumer satisfaction with the service has been very high."
Proximity search is the idea of taking a physical location, such as a shopping mall, and making it fully searchable, including every product, brand, sale, menu item, movie time, etc. NearbyNow then makes this search engine available to the Web, mobile phone, and in-mall kiosks so that shoppers can find what they are looking for, both before and during their shopping visit. It also enables retailers and brands to launch highly targeted advertising programs at shoppers with a high intent to buy. NearbyNow's service coordinates product availability information and reservation requests between participating merchants and consumers.
Prior to its inception in 2005, NearbyNow interviewed hundreds of consumers about why they do their shopping research online, yet purchase in-store. In nearly all cases, consumers preferred to buy in-store so that they could "experience the product first," ask for more information, and pick up immediately. According to the focus groups, NearbyNow discovered that the most frustrating part of the online experience for consumers is (1) finding out who carries what they are looking for, and (2) making sure it's available in the size they want. With NearbyNow's new service, consumers can be more efficient, ensure products are available before they visit a store, download coupons, or even buy products online -- all on one website (the shopping center's) as opposed to searching numerous retailers' sites.
One of the more popular features of the NearbyNow service is the "reserve this product" feature which allows items to be "reserved" for onsite purchase at the local store. Consumers simply click on the item they want reserved and indicate the size and color they are interested in, and how they would like their confirmation to be sent. The NearbyNow service confirms with the retailer that the item is available, and sends an e-mail or text message to the consumer. This saves the customer from being placed on hold, and ensures they will not be disappointed when they visit the store.
"Shoppers and retailers have both been very happy with 'reserve this product,'" said Dunlap. "Over 90 percent have picked up available items, and 66 percent of shoppers indicated that they bought more than one item during their visit, thanks to retail sales associates being able to show them complementary items."
"Today's consumer mixes online and offline channels regularly," said Philippe Winthrop, Aberdeen Group's Director for Wireless and Mobility research. "They research online and buy in-store, or sometimes buy online and return in-store. NearbyNow makes it easy and convenient to give consumers maximum choice, and that's a win for retailers, consumers, and shopping malls."
NearbyNow's expansion plan includes cities such as Atlanta, GA, Portland, OR, Naples, FL, Fort Wayne, IN, San Jose, CA, Northridge, CA, San Francisco, CA, Traverse City, MI, Altamonte Springs, FL, Virginia Beach, VA, Portland, ME, Baton Rouge, LA, Louisville, KY, Tucson, AZ, Spokane, WA, Birmingham, AL, Grandville, MI, Omaha, NE, and The Woodlands, TX.
Sales and Partnership Inquiries
Shopping center managers and retailers interested in additional information, please contact NearbyNow sales and business development at bizdev@nearbynow.com.
About NearbyNow, Inc.
NearbyNow, Inc. is the premier provider of 'proximity search,' a unique online service that allows consumers to search all products, brands, and sales available at local shopping centers by using the Internet or mobile phones. Working with shopping centers and retailers across the United States, NearbyNow's technology is specifically designed to enable consumers to easily access local information to find products, brands and sales, both before and during their shopping trips. The company also creates an efficient marketing tool for retailers to target nearby consumers, helping to drive sales by turning online shoppers into in-store buyers. NearbyNow is headquartered in Mountain View, CA. Additional information can be obtained by phone at (650) 947-1300 or via the Web at www.nearbynow.com.