Internet Retailer Ranks RichRelevance #1 for Personalization
RichRelevance, a company that powers personalized shopping experiences for online retailers, acquired Precog, an analytics technology startup (formerly known as ReportGrid). Financial terms of the deal were not disclosed.
Backed with $50 million in venture funding, RichRelevance aims to take consumer shopping data and help retailers leverage this information into a more personalized experience. As e-commerce continues to grow, and big data strategies enter the market, more retailers are providing customized online shopping for consumers to drive sales. In aggregate, RichRelevance’s clients represent more than 30 percent of online retail and include Target, Walmart, Sears, Overstock, The Disney Store and others.
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Darren Vengroff will join OMMA Data-Driven Marketing event to discuss new ways that brands and retailers are turning data into actionable insight
RichRelevance, a company which provides over one billion product recommendations daily to consumers shopping some of the world’s largest retail brands including Wal-Mart, Sears, Target, Marks & Spencer and John Lewis, has acquired Avail, Europe’s largest provider of online merchandising platforms.
Based in Sweden, Avail serves more than 80 retail clients, including Argos, La Redoute and Halens. According to RichRelevance, the acquisition combines two customer bases to create a global market leader in personalisation for retail – and unifies the companies’ expertise to create the strongest partner to the retail community at a regional and international scale.
Through this acquisition, RichRelevance gains an immediate presence in new countries, including Australia and India. The combined company ranks #1 for personalisation in both the Internet Retailer 500 and Internet Retailer EU250, now with customers in 29 countries worldwide.
“The combination of RichRelevance and Avail brings tremendous value to our clients in the EU and around the world,” said David Selinger, CEO of RichRelevance.
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Online merchants like the idea of being able to recommend products to shoppers based on their profiles and previous purchase history, and two vendors that provide such tools are getting together. RichRelevance acquired Swedish online merchandising platform Avail, which brings 82 new clients to its portfolio and extends its reach deeper into Europe and adds new geographic coverage in Australia and India.
RichRelevance powers personalized shopping experiences for retail brands including Walmart, Sears, Target, Marks & Spencer and John Lewis, and Avail’s retail clients include Argos, La Redoute and Halens.
UK stores must adapt to the rise and rise of digital shopping, or face becoming obsolete. That’s the conclusion that British Land, owner of 29m sq ft of retail space, has come to in recent months. Today we bring you the full story including how it plans, as a major investor in retail property, to counter that threat of obsolescence.
Timely, then, that we also report on TUI Travel’s plans for its Thomson holiday company as it looks to transform its own high street presence for that digital future. Elsewhere in today’s Internet Retailing newsletter, we report on InPost’s plans to roll out a 2,000-strong locker bank network around the UK this year, on RichRelevance’s acquisition of Avail, and on Barclaycard’s use of personalisation to deliver ‘bespoke’ offers to UK shoppers. We also report on judgment day in the Internet Retailing Awards.
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As seen in Women’s Wear Daily: real-time personalization by RichRelevance is at the forefront of @LorealParisUSA’s relaunch of its digital site.
Innovative offering extends the enRICH™ platform to deliver the right content to consumers at the right place and time