Expanded Analytics Help Brands Further Maximize Online Performance
BOSTON and DUBLIN, 26 JULY 2018. Profitero today announced key milestones for the first half of 2018. The company reported a 113% year-over-year increase in annual-recurring revenue (ARR) for its eCommerce analytics, driven by significant expansion in new verticals such as electronics, apparel and outdoors, as well as continued traction with global FMCG manufacturers.
In the first half of 2018, Profitero added 30 new brands as analytics customers, including Adidas, iRobot, Heineken, Panasonic, Dorel Juvenile, and the Jacuzzi Group. The renewal rate for existing brand customers of Profitero’s analytics was 90% in the first half of 2018.
“Being a small team we need to act with a scarcity mindset when it comes to time,” said Ionna Bontari, Head of Trade & Shopper Marketing EMEA, iRobot. “Profitero's intuitive platform enables us to prioritize the areas we should focus on in order to maximize our online performance, helping to improve the ROI of our online business.”
“Profitero not only gives us the ability to monitor category dynamics and to easily track our Amazon sales and share against competitors, but crucially it enables us to connect the drivers behind our online sales performance. We had no visibility into this level of actionable insight before using Profitero,” said Nicola Harrison, eCommerce Strategy Manager, Heineken.
Profitero also achieved major milestones in product innovation, launching nearly a dozen new features and enhancements in the first half of 2018. Highlights include:
Early this year, the company launched Customizable Performance Scorecards, which lets brands define their own success criteria and KPIs for measuring performance across the digital shelf, with daily updates covering 8,000 retailer websites.
In the Spring, the company substantially upgraded its Amazon sales and share estimation algorithms to help brands get a more comprehensive view of 3rd party and competitive dynamics in their category. With the enhancement, clients can now accurately estimate sales for 30% more competitor products than before.
Just in time for Prime Day, the company launched Amazon Promo Tracking, enabling brands to assess the impact of their Amazon promotions on sales and category share, and get insight into the promotional strategies of competitors and best sellers.
Most recently, the company launched a free trial of its digital shelf analytics for Walmart, complementing its Amazon free trial and allowing brands to compare performance across these two powerhouse online retailers.
Coming soon, Profitero will incorporate Amazon traffic and conversion data into its Amazon Analytics solution, making it even easier for brands to quickly identify and resolve sales performance issues across their portfolio. The company will also soon be expanding its Amazon Analytics coverage to Australia.
“Profitero is focused on helping manufacturers first understand and then increase their performance and share in the rapidly growing eCommerce market. And the way we have consistently done that is by delivering world class analytics, backed by the most scalable technology infrastructure and best customer service model in the industry,” said Vol Pigrukh, CEO and co-founder of Profitero. “Our strong financial performance will allow us to expand our data coverage and R&D investments even further in the quarters ahead.”
Profitero is the eCommerce Performance analytics platform of choice for leading brands around the world. With Profitero, brands can measure their digital shelf performance across 8,000+ retailer sites and mobile apps in 50 countries, gaining actionable insights to improve product content, search placement, ratings & reviews, availability, assortment and pricing. Profitero also allows brands to measure their Amazon sales & share performance, and is the only solution that can correlate Amazon sales & share performance with changes across the digital shelf. Many of the world’s leading brand manufacturers depend on Profitero’s granular and highly-accurate data to measure and improve their eCommerce performance. These include Barilla, Beiersdorf, Edgewell, General Mills, Heineken, Kids II and L’Oreal.