It has been reported that eBay, the market leader in online retail and shopping giant has bought the local inventory website, Milo.com in return for $75 million in hard cash. Milo had been previously in the hope of becoming the “local product data’s Google”. So obviously this deal has come as a surprise but this might be the best decision as a strategic venture. The ultimate aim might be incorporating Milo’s data in to the eBay results for a combined outcome.
This might be a result of Google having recently revealed its local product inventory. eBay would have wanted to include that principal in this segment hence the acquisition of the Milo. Additionally, it had been reported that data was being syndicated to third parties by Milo.
With the advent of local product information coming on the internet, it has been observed that online shopping websites like Shopzilla and Nextag have become lessened because of nonspecific providers related to the information of reviews and pricing. In this specific category Amazon has defeated everyone straight on. This brings us to the conclusion that even Amazon might be pondering about entering the local products zone as Google and eBay both have shown their commitment towards it.
As recently as last week, JiWire bought NearbyNow, one of the early companies. Krillion remains the only comparatively mature company. Clarinova, LuckyLocal and Goodzer are newer applicants who have entered the market. The most difficult section of the market is working with smaller retailers. Google though had decided to work directly with retailers. Working as a middleman or even as a data syndicator has been ruled out by Google.
It is a known fact that offline product inventory data information is an ambition for numerous search engines and all the online shopping websites. And now in times of the segments being chased by the startups in return building all the infrastructure and also with the arrival of mobile technology and also LBS researches have reached to the conclusion that product data is an integral way that can drive online as well as mobile clients to stores.
A survey says that around 20% of all the Unites States retailers reportedly have real-time inventory data that is either online or is available for any and all online distribution. We now conclude that this is a very real segment and will significantly accelerate in the next year. The future might have us looking at some product by just looking at a smartphone application. The future is near.
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