RichRelevance Chief Evangelist Jake Bailey, With the advent of shopping related media in the ad market today, it’s no surprise that many people have a hard time defining the right expectations for performance from their retail publishing partners.
CNBC’s Consumer Nation news weighed in with RichRelevance on the growth in mcommerce.
…Once everyone opens those new tablets during the holidays they can join the new shopping revolution: mcommerce. In the last nine months, the share of U.S. online retail dollars attributable to mobile devices has doubled from 1.87 percent in April of 2011 to 3.74 percent in December 2011, according to RichRelevance, a company that assists retailers with ecommerce sites.
The firm also tracked an increase in the portion of page views coming from mobile devices, with more than 15 percent of all shopping seasons occurring on mobile devices. This past April, just under 9 percent of all shoppers were browsing digital aisles via a mobile device, RichRelevance said. By December, the share has more than doubled, reaching 18 percent of all consumers.
iPad and iPhone shoppers account for 90% of all mobile purchases; spend 19% more per order than Android users
RichRelevance, which offers personalized product recommendations and sells advertising around them on websites for such retailers as Walmart Stores and Target, plans to acquire Searchandise Commerce, which sells the equivalent of search ads and creates virtual end-cap displays on e-commerce sites. The deal is intended to create a more comprehensive offering for online-shopper marketing.
Neither the terms of the deal, expected to close this month, nor the companies’ sales were disclosed. But RichRelevance said the combined companies will serve 10 of the 25 biggest retailers on the web, also including Sears. The company also said its Shopping Media platform serves personalized recommendations and advertising with more than 1.4 billion page views monthly and has delivered more than $3 billion in attributable sales for retail clients since its launch a year ago.
The deal combines companies in two of the fastest-growing segments of media and marketing in recent years: digital and shopper marketing.
As you may have seen, today we’ve announced some very exciting news regarding our acquisition of Searchandise Commerce. First of all, let me say that we’re thrilled about the combination of our companies.
RichRelevance’s VP for UK and Europe, Darren Hitchcock, is quoted in the “What the Experts Say” section of Internet Retailing’s supplement entitled “Digital Technologies, Analogue World.”
“Merchandising has an aspect of being about what the customer wants, but searchandising is often driven by metrics when it should be based on what is best or new or most appropriate for that customer.
Read Internet Retailing “Digital Technologies, Analogue Word” article
RichRelevance Chief Marketing Officer, Diane Kegley, is quoted in the “What the Experts Say” section of Internet Retailing’s supplement entitled “Searchandising & Recommendation”
“The three ways shoppers navigate online retail today are browsing the hierarchical categories, using the search box or discovering new products through personalised product recommendations. At this point in the purchase journey, the shopper is deeply involved in the process and very open to helpful suggestions. Increasingly online retailers are maximising the powerful moment by using algorithms that will present product recommendations that fit with the wider merchandising strategy, are highly likely to convert, and will drive sales.” – Diane Kegley, Chief Marketing Officer, RichRelevance
Read Internet Retail “Searchandising & Recommendation Supplement” article
Google have defined the ‘Zero Moment of Truth’ – the point at which a consumer starts researching a purchase online. Jake Bailey of RichRelevance offers best practices for CPG marketers seeking to optimise a vital moment in the relationship between brands, retailers and consumers.
The internet has changed the way consumers conduct pre-purchase research almost unimaginably in recent years. Recently Google christened this concept the ‘Zero Moment of Truth’ (ZMOT) – the moment a consumer researches a purchase online. To engage with a consumer who’s in ‘learning mode’ brands must supply her with real-time information. One of the most fundamental and effective ways to do that is to streamline your online merchandising strategy with the most influential e-commerce partners.