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CommerceIQ, a US-based e-commerce management platform that helps small and medium-sized enterprises (SMEs) achieve profitability and capture market share, today announced the acquisition of the UK startup e.fundamentals, which provides digital shelf analytics (DSA) for retail management support and more.
Guru Hariharan, founder and CEO of CommerceIQ, said in a press release that CommerceIQ customers have asked the company to accelerate its coverage with all global retailers important to their respective businesses. He noted that CommerceIQ’s acquisition of e.fundamentals meets this demand, adding world-class digital shelf analytics and support for more than 440 retailers in 40 countries.
Since the pandemic, the business has seen several changes – from skyrocketing fuel prices to supply shortages not meeting pent-up demand – and the world is still trying to adjust to the new normal. COVID-19 may have forced the digital shift in the e-commerce industry, but the impact of this change is likely to be permanent. To survive in the new normal – a world plagued by value chain, storage and logistics issues amid booming buying activity – companies need to think and act differently when it comes to technology investment.
The big guns in the e-commerce space are ramping up processes to keep pace, with Statista pegging retail e-commerce sales in 2021 at around $4.9 trillion worldwide. It is estimated that this figure will increase by 50% over the next four years, reaching approximately $7.4 trillion by 2025. , supply chain and advertising to help customers win big.
With this acquisition, CommerceIQ says it now has a product that combines modern workflows and in-depth analytics to uncover assortment gaps, retail media targeting opportunities, and new recommendations that help customers focus on priority actions to manage their digital shelf presence at retailers.
CommerceIQ’s new features
CommerceIQ’s retail e-commerce management tools automate and unify aspects such as category analytics, retail media management, sales and operations under one roof.
On the heels of this acquisition, CommerceIQ says businesses can now use its platform to do the following:
● Drive profitability: Optimize business spend and investment in Joint Business Planning (JBP). Plus, recover profit margin and lost revenue by automating the recovery of disputed shortages and chargebacks.
● Optimize omnichannel for profitable growth: By capturing daily store-level availability, distribution, and pricing at retailers, optimize omnichannel fulfillment, manage inventory, and control promotional spend and costs.
● Maximize share of voice and search share: Enable referral brands or agencies to be consistently visible on the first page of search results with quality content and sponsored ads, and optimize advertising to drive incremental sales on the highest margin items and for the most strategic share of vote gains.
● Maximize the inventory rate: Ensure products stay in stock by automatically moving promotions from items at risk of out of stock and triggering predictive replenishment orders.
● Stop Revenue Leaks: Stop losing revenue to competitors and unauthorized third-party sellers by understanding Buy Box behavior and automating the detection, ticketing, and removal of unauthorized sellers.
Speaking about CommerceIQ’s impact so far, Hariharan said customers love how its smart automation helps their teams win on e-commerce platforms like Amazon, Walmart, Target and Instacart. Agreeing with Hariharan, John Maltman, CEO of e.fundamentals, believes that joining forces with CommerceIQ will quickly bring new capabilities to market.
“By becoming part of the CommerceIQ retail e-commerce management platform, e.fundamentals provides a comprehensive solution for brands to understand shopper behavior for their categories, plan their assortment, manage their retail operations, plan inventory for meet demand and optimize media and promotional spend,” Maltman said.
The first product of this acquisition is now available as a free trial for all current CommerceIQ and e.fundamentals customers, as well as select new prospects.
What this means for the broader business
Jason Daigler, vice president analyst at Gartner, told VentureBeat that while analytics tools don’t have a direct impact on the supply chain, this acquisition will help brands optimize their listings on shopping sites. retailer digital commerce, online marketplaces and social channels. This unique decision will help mitigate supply chain disruptions, as early warnings can be sent in the event of stock shortages.
“As brands sell across a growing set of channels, they often have too much work to do to stay ahead of the competition and deliver the right product data to the right channels. Combining digital shelf analytics with powerful automation tools will help brands enable their digital commerce apps to handle manual tasks while focusing on more important strategies,” he said.
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