CommerceIQ Enables $100B E-commerce Grocery Market with Support for Amazon Fresh and Walmart
Award-Winning Platform Used by Top Consumer Brands Now Provides Real-Time, Retail-Aware E-commerce Advertising for Walmart and Amazon with Zip Code Level Insights for Amazon Fresh
PALO ALTO, Calif.–(BUSINESS WIRE)–CommerceIQ, the leading e-commerce management platform provider, today announced new capabilities for Amazon Fresh and Walmart to help grocery brands win in one of the fastest growing segments of e-commerce projected to reach $100 billion this year. On the heels of launching omnichannel coverage for all major online retailers, CommerceIQ now provides real-time, retail-aware advertising on Walmart and Amazon, with additional zip code level precision to track localized availability for Amazon Fresh customers. Today’s announcement caters to the needs of grocery brands, empowering them to leverage CommerceIQ’s machine-learning led platform to reduce revenue leakage and out of stock issues, drive incremental sales and deliver profitable growth.
While grocery brands face unique challenges particularly in the frozen foods/perishable items categories, they share a similar set of challenges faced by CPG brands selling on marketplaces like Amazon and Walmart. Numerous inefficiencies plague the e-commerce landscape such as managing constantly changing digital shelves, reducing out of stock (OOS) and ensuring advertising spend is aligned with business goals. The sheer number of decisions required to be efficient and win is impossible to make without automation. Grocery has the additional burden of understanding how to target and deliver perishable food items to the consumer with pinpoint precision. CommerceIQ Sales provides machine-driven business insights to grocery brands’ e-commerce teams for the first time, enabling them to properly track Fresh availability across top revenue producing zip codes while driving advertising to align with business objectives like profitability. The result is higher share of voice, increased revenue and improved profit margins.
According to the 2021 Gartner Market Guide for Retail Forecasting and Replenishment Solutions report, “Planning across multiple sales channels while dealing with disruptions has forced retailers to accelerate demand-planning and replenishment capabilities. Four benefit areas continue to drive forecasting and replenishment initiatives—revenue lift, reduction in out-of-stocks (OOS), inventory optimization and margin improvement. Supply chain leaders focused on supply chain technology strategy and selection should improve replenishment capabilities by using technology to incorporate returns and utilizing fulfillment forecasting to enhance e-commerce execution capabilities.”
“CommerceIQ delivers the e-commerce execution capabilities grocery sellers need to win on Amazon Fresh and Walmart based on the knowledge and experience we’ve accumulated working with over 2,200 brands,” said Suryadeep Agrawal, Vice President of Product Management at CommerceIQ. “To help brands drive new shoppers to their products and ensure availability at the point of sale, these new capabilities help e-commerce and retail media teams monitor availability across the country, understand competitive positioning and execute the most successful advertising campaigns.”
CommerceIQ products empower e-commerce teams to make thousands of decisions in near real-time by combining key data across pricing, point of sale, market intelligence, supply chain, purchase order management and advertising. When freshness and proximity to customers counts, CommerceIQ delivers unprecedented precision and greater visibility to help CPGs properly plan and optimize grocery demand, including:
- Daily SKU availability in top zip codes across the country for Amazon Fresh.
- Insights on the correlation between different metrics across sales, operations and advertising.
- Retail-aware and real-time omnichannel advertising optimization that drives share of voice growth and reduces wasteful ad spend.
The new CommerceIQ capabilities support recent shifts by Amazon Fresh to help consumer brands fulfill grocery order delivery more quickly. For its part, Walmart’s e-commerce business is continuing to grow a year into the pandemic with increased market share gains in groceries. CommerceIQ helps grocery brands selling on Amazon Fresh and Walmart optimize their omnichannel sales and retail media strategies to win on both marketplaces.
Support for Amazon Fresh and Walmart follows a string of company and product award acknowledgements for CommerceIQ, including Startup Weekly’s 2021 Software Companies to Watch and the American Business Awards Best Electronic Commerce Solution. For more information about CommerceIQ’s and support for Amazon Fresh, request a demo today.
CommerceIQ™ leverages machine learning, analytics and automation holistically across supply chain, marketing and sales operations to accelerate brand growth with online retailers. With worldwide retail e-commerce growth hitting nearly $4.3T in 2020, online sales are becoming core to business operations, requiring high velocity and high-volume decision-making to win at the moment of purchase and drive profitable market share growth. Using CommerceIQ as a single source of truth, customers like Georgia-Pacific, Spectrum Brands and a host of other top-tier Fast-Moving Consumer Goods companies have driven 40% increase in incremental sales, 20% improvement in profitability and 20% increase in share of voice across omnichannel retailers online. For more information, visit CommerceIQ.ai
Gartner, Market Guide for Retail Forecasting and Replenishment Solutions, Mike Griswold February 24, 2021