Retail Ecommerce Highlights for Back to School 2022
Franklin Sports Selects CommerceIQ to Empower Their Ecommerce Team to Manage Amazon Holistically
MOUNTAIN VIEW, Calif.- June 18, 2019 -(BUSINESS WIRE)–CommerceIQ™ aggregates Amazon Vendor Central, Amazon Retail Analytics – Premium (ARAP), Amazon Marketing Services (AMS), and competitor and retail data onto a single platform. The platform then applies machine learning to analyze millions of frequently-changing data points across Amazon to automatically identify and prioritize the most effective sales, marketing and supply chain actions, which are then automated to profitably drive online traffic, conversion and sales.
Like many brand manufacturers, Franklin Sports has been “doing” advertising since the early days of AMS with a single goal of optimizing “ACoS”, but only recently was able to start “running” an advertising program that supports a wide range of objectives. CommerceIQ™’s retail aware and profit aware platform enables Franklin Sports to deploy cross-functional strategies that support a broader range of company objectives than just “ACoS”, enabling them to truly optimize for incremental sales.
According to Scott Kennedy, Director of e-commerce Analytics and Digital Marketing at Franklin Sports, “Marketing performance metrics tell the story of what happened as a result of various independent variables on Amazon (promotional pricing or launching a brand new product). Understanding how those coefficients relate to sales changes is the key to understanding what levers a business can pull on the front end of a campaign to control their sales outlook.
“CommerceIQ™ requires the marketer to state the business objective BEFORE spending advertising dollars. This concept forces the marketing department to gain a more holistic understanding of the business across functions like operations, forecasting and sales. Controlling the demand drivers on the front end will ultimately inform supply chain decisions on the back end for a true retail optimization scenario.”
Using CommerceIQ™, Franklin Sports will be able to automate and optimize trade spend and bid amounts on the right set of keywords and ASINs to drive incremental sales and grow their share of voice across paid and organic search results on Amazon.
In addition, CommerceIQ™ will enable Franklin Sports to automatically detect risks such as current and potential out-of-stock situations, unavailable SKUs, lost Buy Boxes, and potential counterfeit products from 3P sellers, and automates actions on Amazon to mitigate these factors that can adversely affect sales.
“We are thrilled to welcome a category leading brand like Franklin Sports with a long history in the sporting goods industry to our family of forward-looking companies using CommerceIQ™ to win on Amazon,” said CommerceIQ™ CEO Guru Hariharan. “Franklin Sports has been enormously successful in a range of channels, and we look forward to enabling their e-commerce team with CommerceIQ™ to fuel their sales growth and drive unparalleled levels of success on Amazon.”
CommerceIQTM is the leader in Ecommerce Channel Optimization (ECO), the practice of using machine learning, analytics and automations to optimize the ecommerce channel across supply chain, marketing and sales operations to win at the moment of purchase and drive profitable market share growth. CommerceIQ has been adopted by leading consumer brands accounting for billions of dollars in ecommerce 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 ecommerce 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. For more information, please visit CommerceIQ.ai
About Franklin Sports Inc.
A Massachusetts-based company since 1946, Franklin Sports, Inc. is a leading global sporting goods brand with a rich history and reputation within our industry. Over the years, Franklin Sports has maintained strong relationships with professional athletes and leagues such as Major League Baseball, National Hockey League, National Football League and Major League Soccer that bring energy, strength and uniqueness to our products. We understand consumer needs and offer the strongest value by manufacturing products for all levels of sports participation. From the beginner to the pro, Franklin Sports has you covered. Franklin Sports has remained true to its family roots; started by Irving Franklin in 1946, the company is currently operated by son Larry Franklin, and grandson Adam Franklin.