SOURCE: MarketLive, Inc.

MarketLive, Inc.

September 23, 2015 08:15 ET

MarketLive and TrackIf Help Retailers Recapture Lost Purchases From a $634 Billion Ghost Economy

Intelligent Alerting Technology Reclaims Shoppers With Opt-In Personalized E-mails; Yields Conversion Rates as High as 20%

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:

  • Back in Stock Alerts - alerts shoppers as soon as an item or size they want becomes available
  • New Product Alerts - notifies shoppers when a new item they are looking for comes in stock
  • Social Share Alerts - turns social posts like Tweets and Pins into on-sale alerts for other shoppers
  • Wish List Alerts - transforms static Wish Lists into a dynamic marketing engine

About TrackIf
TrackIf is the leader in online tracking and intelligent alerting. Its technology empowers transactional sites and mobile apps to add white-labeled product tracking that captures future purchase intent and converts it into revenue using personalized email alerts. Several of the largest online retailers in the world rely on TrackIf to maximize revenue per customer. To date, TrackIf has sent over 65 million personalized emails, with nearly 50x better open rates and 20x greater conversion rates -- results rarely seen with even the best retargeting campaigns.

TrackIf is headquartered in Minneapolis, MN with key executives in both San Francisco, CA, and New York, NY.

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About MarketLive
Since 1995, MarketLive, Inc., has been the leading provider of e-commerce technology and services that help fast-growing companies successfully sell goods and services online. Designed to meet the unique requirements of catalogers, retailers, direct marketers, and manufacturers, the extensible MarketLive® Customer Driven Commerce technology and services solution integrates commerce across all channels, enabling merchants to enhance their customers' experience online while dramatically improving acquisition, conversion, and retention rates.

The MarketLive platform is the most retail-targeted, fully featured, customizable Total Commerce solution on the market today. MarketLive powers many successful retail e-commerce sites, including Armani Exchange, Party City, Perricone MD, Sport Chalet, Sundance, Helzberg Diamonds, John Deere, Title Nine, Intermix and others.

For more information, visit www.marketlive.com.

1 Retailers and the Ghost Economy: $1.75 Trillion Reasons to be Afraid, May 2015. http://engage.orderdynamics.com/01-Global-Website-Content-Download_Research-Report-Retailers-and-the-Ghost-Economy.html

Contact Information

  • Media Contact:
    Renee Newby Friedman
    Rocket Science PR, for MarketLive
    Office: +1 415 464 8110 x213
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    Email: Email Contact