The Sunrise period for what is expected to be one of the bigger of the new gTLDs, .store, commences this Wednesday 6 April.
Radix, which will be the registry for .store, sees huge potential for the gTLD. Ecommerce makes up a trillion dollar market and grew at a healthy 20.9 percent in 2015. There are over 12 million ecommerce sites on the internet and over 650,000 that make at least $1,000 annually. Statistics also show that 40 percent of worldwide internet users (1billion+) have bought products or goods online and this number is projected to grow significantly.
“While the purpose for .store is specific to websites and platforms that offer products or services for sale online, the target market is global and highly diverse”, said Sandeep Ramchandani, VP & Business Head, Radix.
“We see a great fit for traditional mom and pop business as they make their way into selling online, as we do for modern start-ups with a commerce motive. The entire spectrum can look to find their ‘brandname.store’ which would be their perfect gateway to a dedicated web commerce site, or short URL to their internal commerce specific landing page. During the first few years, we see most demand coming from existing brands looking to use it as a short, clear and precise call-to-action in their marketing messages.”
Sunrise will run until 5 June and then on 7 June an Early Access Phase will commence followed by General Availability on 14 June.
Radix was one of seven contenders for .store and won the rights in a private auction against Uniregistry, Donuts, TLDH, Amazon and Google with the price seemingly not disclosed. But it is worth noting the rights to operate the .shop gTLD cost GMO Registry $41,501,000 in an auction on 27 January 2016, which is easily the most paid for the rights to any of the new gTLD strings beating the $25,0001,000 paid by Google to operate the .app gTLD.