PETALUMA, CA--(Marketwired - Sep 23, 2015) - MarketLive, the leading e-commerce technology platform for fast-growing retailers, today announced that it is partnering with TrackIf, an intelligent alerting technology, to help MarketLive customers re-capture lost dollars from retail shoppers who did not immediately click "buy."
According to a 2015 research report1 from IHL Group, global retailers lose out on $634 Billion in potential purchases annually due to out-of-stock items. The market for this 'future purchase intent' for unavailable items, plus overstocked inventory and preventable returns, has been dubbed the Ghost Economy.
MarketLive will offer its retail customers the TrackIf technology as an integrated feature of the MarketLive commerce platform. The alerting technology places a 'Notify Me' button on retailer e-commerce pages that gives shoppers the ability to opt-in to receive personalized e-mail alerts on any product updates, such as price drops and favored new items coming back in stock. By allowing shoppers to self-personalize the marketing messages they receive, retailers using the TrackIf technology see email campaign open rates as high as 60 percent and 'alert-to-convert' sales results of 12 to 20 percent.
At the same time, the technology provides retailers with rich analytics to forecast merchandise planning and to create custom offers and promotions targeted to specific shopper segments tailored to their product preferences.
"TrackIf's technology is compelling both for our retailer customers and for their consumer shoppers, which is why we are excited to offer it as an optional feature of our platform. Any time we can delight shoppers, while at the same time improve merchant revenues, that is a win-win scenario," said Ken Burke, founder and CEO of MarketLive Inc.
MarketLive customers that are using TrackIf technology include Cost Plus World Market and Wilson's Leather.
"Using personalized e-mail alerts makes shoppers feel in control because they get alerts for the items they really want," said Doug Berg, CEO of TrackIf. "These personalized alerts are the next era of marketing, much like TiVo changed television. We allow customers to curate what product promotions they want to receive and when. In return retailers gain huge customer loyalty and increased participation because their promotions are all tailored to the customer's preference."
Ways to capture future purchase intent include:
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Back in Stock Alerts - alerts shoppers as soon as an item or size they want becomes available
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New Product Alerts - notifies shoppers when a new item they are looking for comes in stock
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Social Share Alerts - turns social posts like Tweets and Pins into on-sale alerts for other shoppers
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Wish List Alerts - transforms static Wish Lists into a dynamic marketing engine