Analysis of Internet Retailer’s 2016 Top 500 Guide shows RichRelevance is top personalization vendor based on client revenues
San Francisco, CA — April 19, 2015 — RichRelevance®, the global leader in omnichannel personalization, today announced that it is the #1 personalization vendor for the Internet Retailer 500. The top ranking is based on a combined $67.7 billion in online sales across RichRelevance’s clients listed in Internet Retailer’s 2016 Top 500 Guide®.
According to analysis of Internet Retailer’s 2016 Top 500 Guide® data, RichRelevance’s customer base represents nearly 50% more online revenue than the nearest competitive vendor. RichRelevance also significantly outperformed Oracle (#7), Adobe (#8) and Salesforce (#13) in the personalization category with more than double the client revenue of all three platforms combined ($29.4 billion).
Retailers who named RichRelevance as their personalization vendor include prominent retail brands such as Best Buy, Costco, Dell, GoPro, JC Penney, Kohl’s, L.L. Bean, Macys, Office Depot, REI, Under Armour and Walgreens, as well as luxury leaders Barneys New York, Burberry, L’Oreal, Michael Kors, Neiman Marcus, Nordstrom, and others.
“RichRelevance ranks #1 for personalization in the Internet Retailer 500 because of the powerful advantages the Relevance Cloud platform offers for large retailers,” said Eduardo Sanchez, President and CEO of RichRelevance. “We remain completely focused on strengthening the Relevance Cloud by building and bringing in the best technology, whether for call center, POS, search or even virtual reality, to support digital sales in a complex omnichannel environment.”
More than 240 leading retailers use the Relevance Cloud to power personalized content, offers and product recommendations to shoppers across web, mobile, call center and store. Forrester Consulting recently found that the Relevance Cloud personalization platform delivers revenue increases of at least 10% and over $400K in annual maintenance savings. The open, real-time personalization platform combines advanced data science with a world-class Hadoop installation and 12 global data centers that support more than one billion decisions per day.
Sanchez continued: “Faced with an explosion of marketing systems and customer data, our clients are using the Relevance Cloud to unify customer information and orchestrate a real-time customer experience that is consistent – and continuous – across every touchpoint. This is a crucial strategic advantage for our clients, and a significant re-writing of the retail CMO playbook to online and offline sales.”
Methodology: The ranking is based on RichRelevance’s analysis of the collective online revenue of the client bases of the personalization vendors represented in Internet Retailer’s 2016 Top 500 Guide®. The annual Guide provides exclusive rankings and analysis of North America’s 500 leading e-retailers. The merchants ranked in the 2016 Top 500 Guide represent collective U.S. web sales of $286.2 billion, an 84% share of total e-commerce sales in 2015.
PRESS CONTACTS
Renee Newby
BPR for RichRelevance
757.651.6554
RichRelevance has been shortlisted for TWO Retail Week Customer Experience Awards 2016. We are thrilled about showcasing our omnichannel personalisation work with Monsoon Accessorize, and look forward to the event in London this June! Find out more here.
What does digital transformation really mean and what is the impact for companies of a ‘digital first’ strategy? In this article Marketing Week looks at several companies who have executed digital transformation including RichRelevance customer, Shop Direct and how they transformed their business from 72% catalogue sales to 100% online in just 3 years with the help of user experience, data analytics and personalization.
Recently we participated in the event E-Commerce One to One in Monaco. In its sixth year, it yet again proved to be THE event for ecommerce leaders. With over 1,000 carefully selected participants, the three-day event made for a rich exchange of ideas and innovations.
Some of the key topics discussed ranged from the shopping experience on mobile devices and developing a ‘mobile first strategy’ to customer service excellence and loyalty programmes. A survey of retailers attending the event uncovered the following top six investment priorities for retailers in 2016:
- Creating excellence in customer service
- Enhancing the shopping experience for mobile
- Building customer-centric financial indicators
- Developing a mobile first strategy
- Building innovations for loyalty programmes
- Developing branded content
For RichRelevance, E-Commerce One to One represented an opportunity not just to make new acquaintances, but also to meet and network with existing customers through dinners and receptions. The speaking sessions also featured one of our valued customers —children’s apparel retailer, Petit Bateau — who presented a workshop about their omnichannel journey with us.
In her workshop, CRM & Digital Director, Christel Hennion talked about the challenges faced by Petit Bateau and why they needed an omnichannel approach. With nearly half (44%) of their customers first searching online before visiting a store, Petit Bateau needed to connect online and offline sales channels to better understand their customers so they could make the right omnichannel recommendation.
To do this, Petit Bateau leverages RichRelevance’s user profile service to gather and access the necessary information about their customer both online and offline. With this customer knowledge, Petit Bateau used RichRelevance product recommendations to personalize the relevant offer on each channel for their shoppers. As a result, they have seen increased engagement and frequency of purchase from their customers.
Petit Bateau also shared an interesting cohort analysis. Even though a small percentage of shoppers interact with product recommendations, this segment represents 50% of orders and 60% of global turnover.
This segment leverages personalization as a means of navigation and catalogue discovery. They are often strongly committed and provide high value to the retailer.
See the E-Commerce One to One blog post for more on Christel’s talk.
Similarly, Google presented a separate workshop where they further expanded on the topic of analysing the influence of online and offline sales, again using Petit Bateau as the example. Laureline Serieys, Retail Industry Head at Google, discussed how they helped Petit Bateau map their customer journey and measure the influence of online and offline purchases. Read more on this session here.
Thanks to all those we met at E-Commerce One to One! The stellar group made it such an insightful event to attend. We’re looking forward to 2017 already.
New YouTube channel features experts on the front lines of omnichannel retail including Barneys New York and Monsoon Accessorize
San Francisco, CA — March 21, 2016 — RichRelevance®, the global leader in omnichannel personalization, has unveiled its new RelevanceTV YouTube channel. The new channel offers an unprecedented inside look at the trends, strategies and tactics used by the world’s most premium retail brands to innovate new consumer experiences. RelevanceTV viewers learn directly from global thought leaders who are inspiring the next generation of retail — and gain real-world insights into how to build consumer experiences limited only by imagination.
Initial RelevanceTV spots include an interview with Barneys New York Executive Vice President Matthew Woolsey on using mobile personalization to boost revenue and insight on the Relevance Cloud™ platform, as well as the UK-based Monsoon Accessorize Information Technology and Ecommerce Director, John Bovill, on empowering store teams through personalization. Additional videos take viewers on a detailed exploration of the trends defining the omnichannel landscape in 2016 as retailers embrace mobile and in-store personalization to deliver a true omnichannel experience.
“RelevanceTV helps viewers compete – and win – on the basis of consumer experience,” said Diane Kegley, Chief Marketing Officer of RichRelevance. “The spots are designed to illuminate the cutting edge of what is possible in omnichannel retail, while also providing a playbook for viewers to plan and build the personalized experiences that make the most sense for their brand and business.”
PRESS CONTACTS
Renee Newby
BPR for RichRelevance
757.651.6554
Strategic partnership enhances the Relevance Cloud™ to allow retailers to precisely determine the right contact channel for a particular customer – and provide a fully personalized experience to drive contact center conversions
San Francisco, CA — March 7, 2016 — RichRelevance®, the global leader in omnichannel personalization, and Now Interact, a company at the forefront of Predictive Intelligence innovation, are joining forces to improve contact center efficiency and performance through omnichannel personalization. The strategic partnership brings Now Interact’s Predictive Intelligence technology into the Relevance Cloud personalization platform to improve contact center engagement and performance.
“As the customer journey expands beyond traditional channels, the contact center remains a unique channel for the remote customer to receive the same personalized, 1:1 attention that customers receive in store. Using intuitive and intelligent personalization technologies, contact center personnel can obtain a clear view of customer history, preferences, purchases, and behaviors, regardless of location or channel, enabling them to turn the contact center into a revenue center” said Eduardo Sanchez, President and CEO of RichRelevance. “This partnership strengthens the independent Relevance Cloud with Now Interact’s Predictive Intelligence technology to bridge the gap between omnichannel data, online store and contact center to deliver new value for our clients.“
The new partnership enhances the Relevance Cloud with Now Interact’s Predictive Intelligence that maps online behavioral data against machine-learning to facilitate the personalization of contact channels. The technology identifies each individual user’s purpose for visiting a company’s website, allowing the most appropriate contact channel for their particular needs to be offered, in real-time.
Online visitors identified as the most likely to convert offline are directed towards the call center. When connected, agents are provided with a holistic understanding of the caller’s previous online journey, as well as relevant past interactions and preferences and highly personalized content and product recommendations based on complete omnichannel data. This helps them to establish a deeper connection with the caller and empowers them to perform at their full potential.
“Our partnership with RichRelevance emphasizes the tremendous growth that Now Interact has been undergoing recently, including breaking serious ground with some of Europe’s largest companies,” said Magnus Åström, CEO, Now Interact. “We are pleased to bring our technology to the Relevance Cloud to revolutionize the retail contact center, and we are confident that our partnership with RichRelevance is just the start of an even bigger chapter for our company in the US.”
About Now Interact
Now Interact is a leading omnichannel technology vendor, operating with a mission to create Predictive Intelligence applications that use both online and offline data to enable the next generation personalization. Now Interact’s dedicated team works with over 50 of Europe’s leading broadband, e-commerce, energy, financial service, insurance, telecoms and utility brands, helping them harness the power of Predictive Intelligence to optimize the performance of their contact channels.
Since 2010, Now Interact has grown from their headquarters in Stockholm, Sweden to open offices in the UK, Netherlands, Germany and, most recently, the US. Further information about the company can be found on nowinteract.com.