MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Boomerang Commerce introduces CommerceIQTM, the industry's first and only end-to-end platform for consumer brand manufacturers to maximize e-commerce growth. Purpose-built for digital-first retail, CommerceIQ uses machine learning to analyze hundreds of variables in real-time to recommend and automate the best sales, marketing and operations actions that drive profitable growth that enables brands to win on Amazon.com, Walmart.com and other e-commerce channels.
Decades-Old Brick-and-Mortar Technology and Processes Will Not Help Brands Win in Digital Retail
The shift in consumer purchase behavior to online is not news. More than half of U.S. retail purchases are now either transacted online or influenced by e-commerce. In addition, 67 percent of millennials — the fastest growing consumer group — prefer online shopping over in-store.
For consumer brands, e-commerce demands a playbook drastically different from that of in-store retail. Legacy store-based sales relied on retailer relationships and manual processes. In contrast, sales on Amazon and other e-commerce platforms are dynamically driven by thousands of variables changing in real-time across hundreds of competing brands. Online sales are dramatically impacted by content, search ranking, paid media, inventory levels, unit profitability, pricing wars, competitor actions, customer reviews and ratings.
When decisions are made through Excel, e-commerce teams spend 90 percent of their time monitoring and analyzing data, and they find themselves anxiously playing catch-up. Instead, e-commerce leaders must shift their teams' focus to defining winning strategies and handling exceptions — and leverage technology to automate the rest. That's precisely what CommerceIQ delivers through real-time machine learning.
CommerceIQ™ Maximizes e-Commerce Growth for Brands
"We are on a mission to empower our brand manufacturer customers with the technology they need to deliver jaw-dropping, profitable growth," says Boomerang Commerce CEO Guru Hariharan. "Through our investment in machine learning and data science, we aspire to be the most trusted technology partner for brands — first in the context of e-commerce and eventually for omni-channel retail."
The CommerceIQ™ technology suite comes with pre-built plug-ins into vendor tools — such as Amazon Vendor/Seller Central, Amazon Marketing Services, and Walmart Retail Link — and includes three applications:
- CommerceIQ™ for Sales - Surfaces growth opportunities and implements actions to boost search rankings and conversion to play "offense" and grow market share; flags risks by monitoring competitors' actions allowing for preemptive moves for "defense."
- CommerceIQ™ for Marketing - Automates ad bidding on Amazon Marketing Services and maximizes profitable growth by balancing return on ad spend (ROAS), retailer profitability and in-stock levels. This provides a drastic leg up, especially when competing against laggard competitors still dependent on high human-touch bid management.
- CommerceIQ™ for Operations - Predicts out-of-stock situations weeks in advance to avoid product delistings and improves contribution margins, providing supply chain teams with the solution required for digital-first retail.
Here is what some top brands are saying about CommerceIQ:
"At Campbell, we are setting the pace to meet the consumer wherever they are – online or in traditional retail locations," says Veeral Shah, Vice President, e-Commerce Business Team at Campbell Soup Company. "Through Boomerang's CommerceIQ, we can automate real-time actions rooted in consumer data and insights so a brand like Pepperidge Farm Goldfish can remain the number one cracker on Amazon.com."
"Making data-driven decisions through platforms such as Boomerang's CommerceIQ helps us drive our e-commerce agenda forward," says Amrit Patil, Vice President, Customer Development at Kimberly-Clark.
From March 18-21, Boomerang will showcase the technology at Shoptalk 2018 in the "Artificial Intelligence Discovery Zone #10." In addition, on March 20 at 3:20 p.m. PT, Boomerang's CEO Guru Hariharan will also unveil the solution as part of the Shoptalk Techtalk track.
About Boomerang Commerce
Founded in 2012 and led by veterans from Amazon, Boomerang Commerce is the machine-learning technology company that powers data-driven commerce for leading brands and retailers. Boomerang's CommerceIQ platform is the industry's first end-to-end solution that enables brands to drive profitable growth through data-driven recommendations and automation. Boomerang collects and processes billions of e-commerce signals in real time, analyzing data from over 50,000 brands across hundreds of retailers. Our customers include three of the top 10 consumer brands and 12 of the top 30 retailers. The company is backed by Madrona Venture Group, Shasta Ventures and Trinity Ventures and has headquarters in Mountain View, California. To learn more, visit BoomerangCommerce.com.
CommerceIQ is a trademark of Boomerang Commerce in the U.S. and other countries. All other trademarks are the property of their respective companies.