E-commerce analytics company Profitero is now tracking 450 million consumer products daily across more than 5,000 online stores, up from 300m and 4,000 respectively at this time last year. This means its real-time e-commerce analytics, insights and strategic recommendations are derived from the industry’s most comprehensive set of ongoing monitoring data, which enables customers to access digital shelf data from any country.
Profitero has also developed a proprietary methodology to estimate Amazon daily sales at a product, brand and category level. In addition to sales numbers that suppliers receive from Amazon, Profitero provides sales estimates for competitive products in the same categories, total category sales and growth of a category over time, as well as a product’s share of the category and how it changes over time, split by Amazon and marketplace sales.
Because of the unique combination of digital shelf monitoring and Amazon sales and share, Profitero customers can correlate their online performance with sales data for their own and competitive products and become much more effective in growing their sales online and increasing their market share.
“No other company offers brands and retailers the visibility into online shopping that we do, and this gives us a significant advantage,” said Vol Pigrukh, CEO and co-founder of Profitero. “The market is huge as FMCG e-commerce sales continue to grow exponentially over the next five years. Today, we can provide our customers with insights in real-time, in any country, so they can benchmark and optimise actual sales, giving them a measurable advantage over competitors.”
Forrester Research predicts that online sales in the US alone are expected to reach $523 billion in the next five years, up 56% from $335bn in 2015. Its new report, “US Cross-Channel Retail Forecast, 2015 To 2020,” predicts that online sales will grow by an average annual rate of more than 9% over the next five years. This growth will intensify competition for consumer share of wallet, increasing demand for Profitero’s leading source of highly correlated data on what consumers see and buy, both online and offline.
Profitero has also significantly expanded its in-house technology and engineering teams. The company now has more than 120 engineering and technical staff members focused on supporting existing customers, which now include more than 70 of the world’s largest brands and retailers.
“To remain the industry’s most comprehensive monitoring and analytics solution – covering more products than any company – requires a team committed to continuous innovation,” added Dmitry Vysotski, CTO and co-founder of Profitero. “We have an ambitious roadmap for the future and a team in place to deliver exactly what the industry needs as e-commerce becomes a bigger part of our customers’ growth strategies.”