SAN FRANCISCO and MUMBAI, September 15, 2016 /PRNewswire/ --
US & China Emerge as Leading Markets for the New e-commerce Domain
Two months into the launch, the e-commerce domain extension, .STORE, has garnered over 50,000 registrations. After a strong launch which saw many leaders from a vast cross-section of industries, the follow-up has seen participation from small and medium businesses, local stores and start-ups from all over the world.
During its 'Sunrise', a phase exclusively for trademark holders, .STORE saw over 650 registrations with big brands like China's e-commerce behemoth JD, Apple, Nike and Chanel buying their matching .STORE names.
Many sports brands have already begun using their .STORE as a memorable short link to their web stores section of their existing .COM website. These include Formula1 (http://www.f1.store), The National Basketball Association and it's teams (http://www.nba.store, http://www.lakers.store, http://www.celtics.store) and McLaren (http://www.mclaren.store).
A few brands like Hanes acquired generic product names like t-shirts.store and hoodies.store at premium prices.
"The early interest in .STORE from global brands was really encouraging. However, the litmus test was centred around local stores, small business and start-ups seeing it as a suitable domain ending. Crossing 50,000 registrations this quickly is an indication that the mass market of online sellers sees .STORE as a great new alternative," said Sandeep Ramchandani, VP & Business Head, Radix.
.STORE is the first domain extension to cater to the e-commerce industry - one that boasts $2 trillion worth of sales in 2016, according to eMarketer's Worldwide e-commerce report. A Statistica study points that online retail consists of 12 million active sellers that cater to over a billion customers worldwide. By 2019, e-commerce sales growth is slated to outpace brick-and-mortar sales growth by a staggering 3-to-1 margin.
"There's a growing need for micro businesses to setup an online store to reach wider markets. 'brandname.store' is perhaps the most suitable, available and memorable option for such a purpose, and we will be running aggressive marketing campaigns to drive home this message," added Sandeep.
Radix will be working with its network of online sellers comprising of domain registration companies like GoDaddy & Namecheap, e-commerce platforms and website builder companies, to showcase .STORE with prime point of sale placements and discounts.
Starting October this year, the company will be rolling out targeted online marketing campaigns both directly and in partnership with its retail partners.
Radix (Radix FZC) is a portfolio Registry for new domain extensions and has secured uncontested registry rights to .STORE, .TECH, .ONLINE, .SPACE, .SITE, .PRESS, .HOST and .WEBSITE.
Lenold Sequeira Vaz