CommerceIQ, a leading eCommerce revenue automation firm, recently announced Growth Navigator, a completely managed service that will help brands manage the peaking short-term demand for all the products as well as aim for long term growth.
The escalating rise of eCommerce expenditure on account of the coronavirus spread has led to numerous challenges for the consumer brands that also include loss of revenue from the stock products amounting up to 35% promotional spend and wasted advertising on lower inventory products.
The doubling of activities coming from the third-party sellers has resulted in a constant brand perception issue and price gauging. The Growth Navigator has been made available after the company had made an announcement of a 300% year after year growth in the revenue in the year 2019 from some major consumer brands.
These include 3 of the best 5 consumer goods firms across the U.S. Growth Navigator has been powered by Commerce IQ machine learning as well as the automation platform that helps all the consumer brands present on Amazon evaluate inventory data and real-time sales, while also providing recommendations, automated actions and insights to help mitigate the losses.
Apparently, the sudden spurt of eCommerce for the brands, the growth rate rising by 400% over March, has underscored an important inflection point to be able to adopt online shopping for various consumer goods. This will help boost e-commerce by five years as well as create a permanent shift within the market.
The brands that have been leading in the new e-commerce world have realized that the maintenance of their relationship with the retailers is not the only important thing and the brands must follow the new approach, that is known as E-commerce Revenue Automation (ERA). It combines machine learning, automation and data analytics to be able to tune the e-commerce algorithms, win the purchase moment while fueling a sustained growth of revenue.