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Frost & Sullivan: Who’s Benefitting from Retail Product Protection?

- Product protection plans boost revenue and customer loyalty for retailers

MOUNTAIN VIEW, Calif., Aug. 29, 2014 /PRNewswire/ -- The adoption of retail product protection plans continues to increase in the United States. Frost & Sullivan estimates the total US retail product protection market size to be approximately $8-10 billion across consumer electronics, home appliances, jewelry, sporting goods, furniture, and other product categories. Strong support of leading retailers, coupled with greater consumer awareness of the need and utility of retail product protection plans, continues to drive demand for retail product protection solutions.

A recent analysis from Frost & Sullivan, Retail Product Protection Plans in the United States: A Market and Competitive Overview, presents an overview of the retail product protection plan market in the United States. The insight analyzes the key elements of advanced retail product protection plans and outlines the benefits for both consumers and retailers. Additionally, Frost & Sullivan evaluates the industry's most progressive retail product protection products from market leading providers.

For complimentary access to more information on this research, please visit: http://bit.ly/1vSWYMC

"Issues with electronics or appliances requiring repairs or replacement are prevalent in today's marketplace; our research indicates that roughly 1 in 5 retail customers that purchase an electronics device or a major appliance are likely to have a problem with the product within the first 12 months," said Brent Iadarola, Frost & Sullivan Research Director. "Protection plans provide a defined path for consumers to resolve their product issues by receiving assistance to repair or replace the covered product."

Initially positioned as a value-added service (VAS), retail product protection plans have evolved as integral tools for retailers to enhance customer loyalty and generate incremental category sales. Consumers are attracted by the multiple benefits protection plans have to offer such as single source solution, quality care, and protection from unexpected costs. Hence, a well-structured retail product protection plan can help retailers improve customer satisfaction, increase store visits and ultimately revenue.

The emergence of 'connected' consumer electronics and appliances has also materialized as an important growth driver for the retail product protection industry. As products become 'smarter', post-sales technical support will be crucial to help customers troubleshoot device issues, reduce product returns, and optimize the overall customer experience.

Retailers should seek providers with progressive roadmaps that offer integrated and complete solutions to ensure a seamless customer experience. Furthermore, retailers should consider parameters such as product capabilities, customer support and service innovation, sales enablement and marketing capabilities, when selecting a retail product protection partner.

"While on the surface all product protection plans seem very much alike, they are clear differentiators when it comes to servicing customers," noted Iadarola. "Retailers are encouraged to conduct a detailed analysis of the various retail product protection providers in order to select the right partner to help meet their growth objectives."

Retail Product Protection Plans in the United States: A Market and Competitive Review is part of the Mobile & Wireless Communications (http://www.wireless.frost.com) Growth Partnership Service Program. Frost & Sullivan's related studies include:  Next Generation Mobile Protection Market Insight, An Insight into the U.S. Mobile Device Logistics Markets; Mobile Handset Protection, A Win-Win for Carriers and Consumers. All research included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

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Retail Product Protection Plans in the United States: A Market and Competitive Overview

Contact:
Clarissa Castaneda
Corporate Communications – North America
P: 210.477.8481
E: clarissa.castaneda@frost.com

Twitter: @Stratecast / @FS_ITVision
LinkedIn: Future Growth Opportunities in ICT
Facebook: Frost & Sullivan

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Xiniya to Report Second Quarter 2014 Results on September 11, 2014

XIAMEN, China, August 28, 2014 /PRNewswire/-- China Xiniya Fashion Limited ("Xiniya" or the "Company" NYSE: XNY), a leading provider of men's business casual apparel in China, today announced that it plans to release its unaudited financial ...

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Lextar and Cree, Inc. Announce LED Cooperation

Cree proposed US$83 million investment to Lextar, becoming Lextar's strategic customer in lighting market HSINCHU, August 27, 2014 /PRNewswire/ -- Lextar Electronics Corp. (TAIEX: 3698, "Lextar" or the ...

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Natural Beauty Announces 2014 Interim Results

Turnover Rose 22.1% to HK$248.5 Million

Contribution from Higher-margin Products Drove

Gross Margin Improvement

HONG KONG, Aug. 26, 2014 /PRNewswire/ -- Natural Beauty Bio-Technology Limited ("Natural Beauty" or the "Group"; Stock Code: 00157), the leading professional skin-care, spa services and beauty training provider in China, announced today its interim results for the six months ended 30 June 2014.

For the six months ended 30 June 2014, turnover of the Group grew 22.1% to HK$248.5 million year-on-year (1H2013: HK$203.6 million), driven by an increase in product sales as a result of higher store productivity in Mainland China and Taiwan. Overall gross profit margin improved to 76.7%, as contribution from higher-margin products increased within the Group's sales mix during the period (1H2013: 75.9%). Profit for the period amounted to HK$29.7 million for the six months ended 30 June 2014 (1H2013: HK$36.2 million). Earnings per share were 1.48 HK cents (1H2013: 1.81 HK cents). The Board recommended to distribute an interim dividend of 2.1 HK cents per share, equivalent to a dividend payout ratio of 141.5%.

Despite the economic growth slowdown in the Mainland China, turnover in the Mainland China market rose by 25.3% to HK$201.8 million for the six months ended 30 June 2014. The growth was driven by increase in sales of products, mainly due to the pilot-testing of "direct-own retail" management system to exercise better control over franchisees in order to drive higher store productivity. During the first half of 2014, gross margin on product sales was up 2.4 percentage points to 81.2%. Turnover for the Taiwan market also registered growth of 11.7% to HK$44.4 million, as the Group adopted door-by-door management via franchisee differentiation to utilize company resources efficiently. Gross margin on product sales expanded 3.5 percentage points to 82.4%. The gross margin improvement in both Mainland China and Taiwan was a result of higher sales contribution from higher-margin products such as NB-1, and lower promotion discounts during the period under review. On the other hand, sales in other regions, including Hong Kong, Macau and Malaysia, decreased 17.9% to HK$2.3 million for the six months ended 30 June 2014, accounting for an insignificant 0.9% of the Group's turnover.  

The Group derives its income principally from its network of distribution channels, including spas and concessionary counters in department stores. As at 30 June 2014, there were 1,358 spas and 14 concessionary counters. A total of 11 new stores were opened and 72 stores were closed during the six months ended 30 June 2014.

During the period, average sales per store of the Group amounted to HK$179,000 (1H2013: HK$138,000), of which average sales per store in the Mainland China grew 32.6% to HK$183,000, while average sales per store in Taiwan increased by 20.6% to HK$164,000.

The Group puts significant emphasis on research and development which allows it to maintain its competitive edge by continuously improving the quality of its existing products and developing new products. The Group has been collaborating with overseas skin-care companies on technological development, drawing on the experience of its team of experts to continually create high-quality beauty and skin care products. During the six months ended 30 June 2014, nearly 191,395 sets/bottles of the Group's flagship NB-1 family products were sold with turnover amounting to HK$101.3 million, accounting for more than one-third of the Group's total product sales during the period. The Group has also collaborated with a leading researcher in the field of human genome and stem cell technology. The stem cell technology is patented in the United States to protect the uniqueness of the NB-1 products.

Ms. Karen Chang, Chief Executive Officer of the Group said, "In 2014, the beauty and personal care sector maintained better than GDP growth and we are pleased to have achieved a much higher growth than the industry. Our growth is mainly attributed to the improved channel quality by implementing 'direct-own retail' management methodology to drive much higher door productivity. In order to maintain the encouraging growth momentum, we will strengthen trainings provided to our franchisees to ensure their operational quality. We also rationalize our products lines by relaunching NB-1 Revital products to increase the penetration of home care. We will press on with our prudent growth strategy, and strive to strengthen our position as a leading skin care brand and spa operator in the Greater China Region, so as to generate better returns for our shareholders."

- End -

About Natural Beauty Bio-Technology Limited

Natural Beauty is a leading beauty and spa services and products provider in Greater China. The Group principally offers tailor-made beauty and skin care solutions through its trained professional beauticians. The Group is engaged in research and development, manufacture and sale of skin care, aroma-therapeutic and beauty products, marketed under the brandname "NB®". The products are distributed through a distribution network of over 1,300 NB's SPAs and dedicated counters in Greater China.

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The Forefront of Japan’s Subculture — the Ever Evolving “Akihabara”

TOKYO, Aug. 25, 2014 /PRNewswire/ -- "Akihabara"is well known to those not only in Japan but also overseas as "the City/Mecca of Electronics & Home Appliances". You will still see a lot of major home electronics retailers lined up side by side, and many people from the country and all over the world have made visits to the city looking for Japan's electronic appliances for decades. However, the city has now evolved brilliantly throughout the changes of a new era. Nowadays, "Akihabara" not only represents a name of a city, but also became an iconic figure that embodies Japan's own subculture. Japan's unique subculture scene largely represented by this city attracts travelers from all over the world. Akihabara, which is continuously evolving its appearance every minute, also owns its very unique in-station facility that fittingly serves as an entrance to the city. Here we will introduce you to some of the newest faces in Akihabara you will likely encounter in the station or somewhere under an elevated structure:

Why don't you get Japanese souvenirs and the hot items in Akihabara?
Why don't you get Japanese souvenirs and the hot items in Akihabara?

An art-turned train! Even a non-hardcore fan should stop by -- "TRAINIART"

"Atre Akihabara 1" is connected directly to JR East Railway Akihabara station's Electric Town exit (or "Denki-gai" exit). On the 2nd floor you will find "TRAINIART", a  boutique shop selling railroad/train merchandises. Here you will find a vast variety of railroad/train designed goods, from stationaries to accessories, all focused on both [design] and [functionality]. You will notice most of these goods are well-suited for its own brand name "-ART", all richly designed, stylishly finished that one would definitely be tempted to pick them up in their hands, and are very popular among the females. You can also find a pair of train-designed T-shirts tailored for parent-child; you would definitely find a train-designed merchandise of your own that you would probably want to bring home.

"CHABARA""NOMONO" - For those looking for tasting/bringing home Japan's regional local gourmet foods

In Japan, you will encounter distinctive local gourmet foods in each region throughout the country. Wouldn't it be nice if you could enjoy all sorts of gourmet foods from all regions in Japan even if you could only stay in Tokyo?

That's when we highly recommend"CHABARA", located under an elevated bridge connecting JR Akihabara Station and Okachimachi Station. You will find a rich variety of specialty goods, seafoods, and soil foods delivered directly from local producers throughout the country. Perhaps, it's a good idea to make gifts to your friends with soy-sauce, miso, tonkotsu (or pork bone soup) or other unique ramen noodles delivered from local producers, or for anybody, whose dad loves Japanese Sake, why not make a gift for him with a Japanese Sake processed with pure water and high quality grain of rice!

On the other hand, "NOMONO", located inside Akihabara Station, is "A shop introducing the allure of Japanese food" that is always crowded with visitors as, albeit its somewhat limited space, it is conveniently located inside the station. At "NOMONO Kitchen" located on 2nd floor, you will enjoy the aspects of traditional local culture and all sorts of menu filled with highly selective and seasonal ingredients from the east regional Japan.   

In Akihabara, the city that constantly provides us with the latest cultural ingredients, its nearest station is equally unique as well. As the forefront of Japan's cultural movement, we highly encourage you to visit there.

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ITC Judge Issues Mixed Decision in ResMed(RMD) Case

3B/BMC DESIGNS AROUND CONTESTED PATENTS BEIJING, August 23, 2014 /PRNewswire/ -- BMC Medical Corp and 3B Medical, Inc. ("3B/BMC"), leading players in the manufacture and sale of sleep apnea products, an...

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Fuwei Films Announces Unaudited Second Quarter 2014 Financial Results

-Teleconference to be Held on Friday, August 22, 2014 at 9:00 am EDT- BEIJING, August 22, 2014 /PRNewswire/ -- Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) ("Fuwei Films" or the "Company"), a manufac...

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