CommerceIQ launches tools for grocery brands

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CommerceIQ, an ecommerce management startup, is rolling out new features to support grocery brands on Amazon Fresh and Walmart. The digital grocery vertical is expected to reach $ 100 billion this year.

“CommerceIQ provides the e-commerce execution capabilities that grocery vendors need to earn on Amazon Fresh and Walmart based on the knowledge and experience we’ve gathered from working with over 2,200 brands,” CommerceIQ Vice President of Product Management Suryadeep Agrawal said in a Wednesday (June 16) Press release.

“To help brands attract new buyers 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 to execute the most successful advertising campaigns, ”said Agrawal. .

CommerceIQ offers “real-time, retail-friendly” promotions on Walmart and Amazon, with “postcode-level accuracy,” the company said in the statement. The platform leverages machine learning to fill revenue gaps, reduce out-of-stock items, and help increase sales.

The Silicon Valley startup highlighted industry-level concerns within the e-commerce ecosystem, such as digital shelves, inventory, and ad spend versus targets. Business efficiency can be crippled by the many decisions made on a daily basis, which automation can help mitigate, the statement said.

The company said its products give e-commerce grocery teams the tools they need to make multiple decisions in near real time. CommerceIQ integrates data points across many attributes such as pricing, point of sale, market information, supply chain, etc.

Fabric CEO Faisal Masud said Karen Webster in a conversation for the PYMNTS ConnectedEconomy ™ series this month that retailers have a bigger digital hub to navigate than they realize. The numbers, Masud said, don’t offer an accurate snapshot of the size and scale of what lies ahead.

A recent PYMNTS consumer survey showed that 62% of those polled who have opted for digital grocery shopping plan to stay with it after the pandemic.

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About the study: The AI ​​In Focus: The Bank Technology Roadmap is a research and interview report examining how banks are using artificial intelligence and other advanced IT systems to improve credit risk management and other aspects of their operations. The Playbook is based on a survey of 100 banking executives and is part of a larger series assessing the potential of AI in finance, healthcare and others.



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