Drawn by high profit margins of e-tailing, the manufacturer and designer of modular and innovative furniture will strategically foray into e-commerce by partnering with Inno International Trading.
There’s no denying that e-commerce is the only way up for retail businesses. Impacting customers’ lifestyle and urging them to buy merchandise is efficaciously accomplished through online platforms. The shift to e-tailing is being positively valued by lifestyle business verticals such as food & beverages, fitness, clothing & apparel, and furniture, among others. Inspired by several competitors, startups and high growth enterprises offering lifestyle-based products are now adopting measures for strategic expansion of their business through e-commerce. Leading furniture manufacturer in the US, Nova LifeStyle, is one such company that is slated to take on the e-commerce expedition and build up trade from untapped consumer bases.
Partnering with Hong Kong-based business marketing firm called the Inno International Trading, Nova LifeStyle has declared its entry into e-commerce by distributing modern lifestyle furniture through service oriented platforms. The innovative designer and manufacturer of modular furniture will be setting up its trade in e-commerce as this channel is expected to reap high profit margin for the company. Engaging with Inno’s monetizing and trade marketing schemes, Nova LifeStyle will capitalize on online businesses by allowing Inno customers to exchange their e-tailing reward points with their décor products and merchandise. Interior furnishings and equipment manufactured by the company will be sold to such customers through Inno International’s Reward Points Redemption Program, which will eventually help in management of an Academic E-commerce bazaar for Nova LifeStyle. Simply put: existing Inno members can access this online marketplace and exchange their reward points to buy lifestyle furniture.
Few months back, Nova LifeStyle had expressed its plans to intentionally recalibrate its business by renovating the company from being a designer and marketer of modern furniture to being a facility-oriented e-commerce trading business. Such a transition for several lifestyle businesses and service providers is expected to lower the intensity of capital expenditure, and concurrently, bulk up their profit margins to considerably high extents. Stirred by the concept of how passengers can use their bonus airline miles or their credit card points for cashless air travel and still make profits for the airline company, the president of Nova LifeStyle, Tawny Lam, articulates that the company will net huge profits from millions of customers who have stacked their e-commerce reward points and don’t know how to disburse them.