Channel Intelligence, Inc. Surpasses $1 Billion Mark in Customer Leads Sent To Online Retailers Through Channel Buy Links
Company Says Channel Buy Links Is on Target to Provide Over $2 Billion In Sales Leads From Major Manufacturers to Dealers by Year-End
CELEBRATION, Fla., Oct. 16 -- Flying in the face of gloom and doom predictions for online retailing in FY2002, Channel Intelligence, Inc. announced today that their Channel Buy Links service has now passed more than $1 billion in sales leads from their manufacturing client Web sites to online dealers. The service, which first went live in April, 2002, is now sending leads to a number of major electronics and computer products brands including Panasonic, 3Com, Viewsonic, Hewlett-Packard, Sharp, Iomega, NETGEAR, Plextor, Maxtor, Zoom, Sennheiser, Exabyte and others. The value of a lead is determined by the price of the product chosen at the destination dealer.
"It`s amazing that just 6 weeks ago we were at $500 million and looking forward to $1 billion later this year," says Robert Wight, Chairman and CEO of Channel Intelligence, Inc. "Especially when you consider the state of the economy right now. The growth has been explosive. But after years of experimentation with direct sales over the Internet, manufacturers are finding that the channel model is still the best for serving their customers, and they`re putting their full support behind it."
Channel Buy Links are product-specific links that take consumers from the information-gathering phase on a consumer goods manufacturer`s Web site directly to the buy page at dealers who carry the product and have it available in stock. The service is easy to implement for the manufacturer, and requires no action on the part of the retailer to participate.
Wight says that manufacturers are measuring the value of Channel Buy not only in the quantity of leads being forwarded, but also in their retailers` ability to convert those leads into sales. The U.S. Department of Commerce estimates that $33.7 billion was spent on non-travel online purchases in 2001. Yet industry statistics show that shopping cart abandonment rates are as high as 97 percent. Channel Intelligence says that by using Channel Buy Links and following other recommendations, manufacturers can reduce that rate by as much as 15 percent, yielding a sales conversion rate that is 4-10X higher than industry standards.
Dealers across the U.S. have also been very happy with the quality and quantity of leads being forwarded. Among those currently receiving leads through Channel Buy Links are Insight, PC Connection, Sears, Amazon, Best Buy, OneCall, MicroWarehouse, ABTElectronics, Sound Center, Buy.com. Crutchfield, Office Depot, Staples, CompUSA and many others. Many of these dealers are now recommending Channel Buy Links to other manufacturers whose lines they carry.
"Ultimately, the Internet was supposed to make buying a product easier and less costly," says Wight. "Instead, the opposite happened, and it`s been one of the greatest barriers to the success of eCommerce. Channel Buy Links is helping the Internet fulfill its promise by offering a mechanism that`s as easy as purchasing direct while still allowing consumers to buy from whichever retailer they`re most comfortable with. Funneling $1 billion in leads in six months is a pretty good indicator that what we`re doing is working."
About Channel Intelligence, Inc.
Channel Intelligence, Inc. develops services that improve the online sales process between manufacturers, dealers, and consumers. These services allow manufacturers and dealers to capture incremental sales, reduce shopping cart abandonment, and refine product flow through the channel, all while improving the online shopping experience for the customer. Channel Intelligence, Inc. is privately held by Aweida Ventures, New South Ventures, private investors, and management. For more information, contact: Channel Intelligence, Inc., 1180 Celebration Blvd., Celebration, FL 34747; phone (321) 559-2300; fax (321) 559-2379; www.channelintelligence.com .
CONTACT for Channel Intelligence:
Ken Krause of Tech Image Ltd.
+1-847-632-0040 ext. 228
ken.krause@techimage.com
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