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CommerceIQ, a U.S.-based retail ecommerce management platform that helps small and medium businesses (SMBs) achieve profitability and take their share of the market, today announced it has acquired a U.K.-based startup e.fundamentals, which provides digital shelf analytics (DSA) for retail management support and more.
Guru Hariharan, founder and CEO at CommerceIQ, said in a press release that CommerceIQ’s clients had been asking the company to accelerate its coverage to all global retailers important to their respective businesses. He noted that CommerceIQ’s acquisition of e.fundamentals meets that demand, adding world-class digital shelf analytics and support for more than 440 retailers across 40 countries.
Since the pandemic, the enterprise has experienced several changes — from skyrocketing fuel prices to supply shortages not meeting pent-up demand — and the world is still trying to adjust to the new normal. COVID-19 may have forced the digital shift in the ecommerce industry, but the impact of the shift is likely to be permanent. To survive in the new normal — a world plagued by supply chain, storage and logistics problems amidst soaring purchasing activities — companies need to think and act differently about technology investment.
The big guns in the ecommerce space are accelerating processes to keep up the pace, with Statista benchmarking the retail ecommerce sales in 2021 at approximately $4.9 trillion worldwide. This figure is estimated to grow by 50% over the next four years, reaching about $7.4 trillion by 2025. Hariharan claims CommerceIQ is now leading the charge in that space, stating that it’s the first platform to connect and intelligently automate across the shelf, sales, supply chain and advertising to help customers win big.
With this acquisition, CommerceIQ says it now has a product that combines modern workflows and deep analytics to uncover assortment gaps, retail media targeting opportunitie …