The maker of software for online retailers processed more than $1.6 billion in orders in the quarter.
A new update of mobile shopping app ShopSavvy includes sales information from more than 500,000 retailers—up from 40,000 just one year ago.
ShopSavvy, a mobile shopping app, lets consumers track sales of specific products and aggregates all those sales into one mobile experience. A just-released update of the app includes product and sales data from more than 500,000 retailers, up from 40,000 retailers just one year ago, ShopSavvy says.
“People don’t want to sort through e-mails from 10 or 20 different stores each month to track the products and brands they are interested in,” says ShopSavvy CEO John Boyd. “We don’t just aggregate deals on the store level, but down to the product SKU level to help app users who check for sales and deals daily.”
For example, if a shopper is interested in buying a new pair of jeans but is looking at just a few brands, she can use ShopSavvy to track sales on those brands, or on a particular pair of jeans using the SKU number. The app will notify the shopper via push notification when any store in ShopSavvy’s network is having a sale on that brand or pair of jeans.
Retailers do not pay to participate in the ShopSavvy app. The app makes money from targeted advertising, called AdOns. AdOns cost 50 cents per engagement, any time a consumer interacts with the ad by clicking on it. Average click-through rates for these ads are 5-11%, the company says, though strong campagins can garner higher double-digit click-through rates.
ShopSavvy participating retailers include Overstock.com Inc., Victoria’s Secret, Newegg Inc. and Target Corp.
Overstock.com is No. 30 in the newly published 2015 Internet Retailer Mobile 500, which ranks the leading retailers in mobile commerce worldwide by sales on smartphones and tablets. Victoria’s Secret is owned by L Brands, No. 52; Newegg is No. 43; and Target is No. 37.