The Knot Inc. Announces the Next Generation of Online Gift Registry
Launch of Gift Registry 360 with Key Partners Macy’s, Target, Williams-Sonoma, Pottery Barn & Crate and Barrel
NEW YORK, NY (October 1, 2009) –The Knot Inc. (NASDAQ: KNOT), a leading lifestage media company, announces the launch of its newest online registry platform, Gift Registry 360©. This groundbreaking registry environment combines the flexibility of a universal registry platform with the power of social networking. The new system does away with the traditional online model of registering with individual retailers by offering users the ability to register for any product available on the web and manage that information in one list inside the #1 Facebook wedding application, Weddingbook.
Today’s couples register with an average of three retailers, making the current process of managing and shopping from multiple registries an outdated and incredibly limiting experience for couples and their wedding guests. The Knot looked to create a brand-new platform that would provide couples with the individuality and flexibility they want, while at the same time making it easier for wedding guests to find and shop from online wedding registries. Gift Registry 360, or GR 360, is tagged as the next generation of online gift registries and is the first opportunity for many registry retailers to make a meaningful foray into the Facebook environment.
To launch this new initiative, The Knot has partnered with five key registry retailers, Macy’s, Target, Williams-Sonoma, Pottery Barn, and Crate and Barrel. The platform launched with the following key features:
- ADD BY CATEGORY: Browse the widest selection of products by category across multiple retailers.
- ADD BY RETAILER: Search through a particular retailer’s entire product catalogue.
- ADD FROM ANYWHERE: A bookmarking tool allows users to register for items from any website.
- ONE LIST: Any item added appears on a single registry list.
- REFERRED TRANSACTIONS: All transactions occur on the retailer’s site, and the company collects a commission on the sale.
“We recognize that the current registry creation process is confining in that it limits the couples’ selections to the assortments of individual retailers,” said Kristin Savilia, Senior Vice President, E-Commerce and Registry. “We are excited to now offer a solution that allows couples to register for virtually any product they want, and likewise we are thrilled to offer wedding guests a time-saving solution to find the perfect wedding gift.”
Through the use of the Company’s patented registry search aggregation tool, this dynamic, open platform will fundamentally change the often daunting task of setting up and managing a registry by creating a more user-friendly and social experience for the user. It also provides the first meaningful opportunity for registry retailers to target engaged couples and their guests in a social networking environment.
“We believe Gift Registry 360 is the future of registry gifting because it takes the product information out of the retailer’s websites and puts it into the hands of the couple,” said David Liu, CEO and cofounder of The Knot Inc. “As more and more of our couples use social networking platforms like Facebook to communicate about their weddings, we’re creating a unique and exciting opportunity for our retail partners to make their products available at the point of guest contact where they are most likely to transact.”
The Company has plans to launch the platform on a stand-alone web presence with increased functionality in 2010.