RealTime IT News

Lycos Launches Smart Shopping Site

Lycos Inc. Monday unveiled LycosShop, an integrated commerce destination that offers consumers more resources to pad their purchasing choices.

Lycos, which has incorporated such heavy-hitters as Barnes& Noble.com (BKS), Crutchfield and Neiman Marcus (NMGa) into their site, will offer a loyalty program that rewards users for on and offline shopping.

Lycos has altered the buying cycle by creating LycoShop. In the original model, shoppers research products, consult friends for recommendations and make purchases. With LycoShop, consumers research products, consult with friends about products and then may buy from a host of vendors in one place. This "smart" process simulates the real-world buying experience at a shopping mall.

Currently, about 12 million consumers engage in e-commerce on Lycos. Lycos (LCOS) hopes the new site will boost the frequency and duration of users' visits.

The company believes revenue will accumulate from the addition of placement, hosting and transaction fees.

"LycoShop is the first online destination that emulates the entire shopping process in one place," said Jeff Bennett, Lycos' vice president and general manager of electronic commerce.

"LycoShop helps consumers make the right purchasing decisions more quickly than ever before. Instead of researching products in one place and purchasing them in another, shoppers find everything they need at LycoShop."