According to ComScore, online spending reached a record $35.3 billion this holiday season, a 15% increase over last year.
At the heart of this surge in online sales lies Philadelphia-based Monetate, a leading provider of online marketing technology, which announced that its platform drove roughly 20 percent, or $168 million of the record-setting $816 million in Black Friday online sales.
As ecommerce companies increasingly look for ways to increase customer engagement and sales on their websites in a highly competitive online shopping environment, technology providers like Monetate play an essential role in helping to move the needle on sales. The significant adoption of Monetate’s platform signals the importance online retailers place on delivering a more engaging and relevant shopping experience to customers in ways that measurably impact website ROI.
“Online retail has been growing exponentially since I co-founded Shop.org in 1996, and the 2011 holiday shopping season was a banner year,” said Monetate Strategic Advisory Board member and ecommerce visionary Elaine Rubin. “Companies like Monetate influence a large amount of ecommerce transactions by partnering with online retailers to add much-needed marketing agility, increase conversions and revenue, and help them quickly adapt to the changing habits and preferences of their customers in this new multichannel world.”
With Monetate, marketers can quickly and easily run A/B and multivariate tests, leverage powerful tools like geographic and weather-based targeting, and deliver unique customer experiences based on real-time user behavior. Core features like built-in analytics, behavioral profiling, and automatic content scanning empower marketers to move even faster, without having to rely on IT resources or hire specialized staff.
“We had an excellent year in 2011 that concluded with a flurry of holiday activity among our retail partners,” said Monetate CEO David Brussin. “With 20% of all Black Friday sales driven by our platform, it’s clear that retail marketers are beginning to adopt a more agile approach to ecommerce that allows them to quickly adapt to the changing habits and preferences of their customers.”