CommerceIQTM is the leader in E-commerce Channel Optimization (ECO), the practice of using machine learning, analytics and automations to optimize the e-commerce channel across supply chain, marketing and sales operations to win at the moment of purchase and drive profitable market share growth.
CommerceIQ started its life as Boomerang Commerce, a company that offered E-commerce solutions such as dynamic pricing for traditional retailers looking to grow their digital presence. Boomerang Commerce was the brainchild of founder and CEO, Guru Hariharan. After spending many years at Amazon building software systems and services powering the Amazon Retail Marketplace, Guru was convinced that applying software and automation was the only way forward for all retailers to tame the massive consumer opportunity represented by E-commerce. In 2018, the company also started building E-commerce solutions for consumer brands looking to grow their business on Amazon. In June 2019, the company sold their retail business to Lowes, shifted their focus to brands exclusively and rebranded themselves as CommerceIQ.
Today, CommerceIQ’s machine learning and automation SaaS platform is used by the largest consumer brands to win at the moment of purchase by automatically responding in real-time to changing variables across hundreds of their SKUs on Amazon. CommerceIQ is the industry’s first and only channel optimization solution that aggregates sales (retail POS, inventory, profitability), marketing (advertising, promotions, content) and competitor intelligence data, applies machine learning and analytics to generate insights and recommendations and automates thousands of actions in near real time to drive growth, improve share of voice and create competitive advantage. While the company’s primary solution started on Amazon, we have announced betas for our advertising solutions on Instacart and Walmart, and are rapidly evaluating additional E-commerce marketplaces.
CommerceIQ has been adopted by leading consumer brands accounting for billions of dollars in e-commerce sales and marketing spend, including Avery Products, Georgia-Pacific, Spectrum Brands and 3 of the top-5 Fast-Moving Consumer Goods Companies in the U.S. These brands rely on CommerceIQ’s machine-based commerce technology and business processes, which are purpose-built to tune e-commerce algorithms, collaborate and share data-driven insights in real-time in response to changing variables across hundreds of products on leading retail sites. Using CommerceIQ as a single source of truth, customers have driven 40% increase in incremental sales, 20% improvement in profitability and 32% reduction in out of stock rates on Amazon.