The living process of e-commerce
May 29, 2012 12:05 pm
E-commerce has recently been described as a ‘living process’. Rakuten is one of the top ten internet companies in the world and it has highlighted that e-commerce is about a relationship between people who frequently buy online and the retailers that they buy from. Also included in this relationship are the parcel delivery services used.
This ‘living process’ is to be further extended as Rakuten have recently announced that they plan to invest £63.4 million into Pinterest, the online pinboard social network. This investment by the Japanese company, Rakuten, will enable Pinterest to improve their site and expand across 17 different global markets.
Rakuten utilise a model entitled ‘omotenashi’ which in literal translation links to the english for hospitality. The model of omotenashi is what enables retailers to create lasting relationships with their customers.
Speaking out about this current investment is Hiroshi Mikitani, the CEO of Rakuten, “While some may see e-commerce as a straight forward vending machine-like experience, we believe it is a living process where both retailers and consumers can communicate, discover and curate to make the experience more entertaining.
“We see tremendous synergies between Pinterest’s vision and Rakuten’s model for e-commerce.”
It would seem that Pinterest are rather excited about this investment too and the co-founder and chief executive at Pinterest, Ben Silbermann, has said it is an amazing opportunity that will bring people closer to discovering the things that they love.
Rakuten’s major competitor is Amazon who have recently had a 34% increase in quarter one sales this year. It would seem that the joint venture with Pinterest will be one to watch.
Categorised in: Blog