Amazon isn’t the only retailer encroaching on the financial services space. It may be the scariest — just the rumor of it entering a company’s space will send its stock price down — but ultimately, Amazon only cares about getting more buyers and more sellers to join its platform.
Overstock’s Raj Karkara, vp of loyalty and financial services, echoed that sentiment earlier this year, saying that offering financial services or connecting customers with financial services providers is a natural extension of its retail function of buying and selling consumer goods.
“Our goal is to bring products to market faster,” Karkara said. “We want to expand the customer relationship as much and as fast as we can.”
It’s obvious that banks need to borrow from retailers when creating customer experiences whether it’s in the branch, the mobile app or even the payments. But while retailers are already ahead on digital experiences, many from CVS to 7-Eleven to some of the largest e-commerce platforms in the world are also borrowing from banks to improve their own customer relationships.
Here are three major retail companies beyond Amazon or Alibaba that are growing their financial services offerings.
-
How gaming organization OTK strikes a balance between creator-ownership and more traditional executive experience
Since its formation in October 2020, creator ownership has been a core part of One True King’s DNA. The group is constantly adding new talent to its list of creator–owners, fueling a rapid rise and accolades such as “Best Content Organization” at last year’s Streamer Awards.
-
When it comes to TikTok, some marketers proceed with caution
For some marketers, the bloom is coming off TikTok.
-
Digiday+ Research deep dive: YouTube holds strong as a reliable marketing channel for agencies and brands
YouTube might not be considered the most exciting marketing channel out there, but brands and agencies see the platform as a reliable marketing channel that delivers consistent success.
-
SponsoredHow advertisers are fostering more effective publisher partnerships
Michael Weaver, senior vice president, business development and growth, Al Jazeera Media Network An everyday conversation between publishers and advertisers goes like this: The publisher invites the advertiser to a meal to talk about their business, attempts to delve into specifics on what the media buyer is looking to achieve, their audience breakdown and how […]
-
Pringles goes all in on social to put college athletes front-and-center for ‘March Mustache’ campaign
Pringles is turning to social media — particularly Instagram — to leverage some of the college athletes playing in the March Madness basketball tournament, with the goal of reaching college basketball fans on second screens.
-
Short-form video needs better monetization, creator funds aren’t the way to do it
Creator funds have almost been like a stepping stone before a more permanent solution is either considered or put into place.
