The company gained 385 new customers in the third quarter.
Research Triangle Park, NC – October 20, 2010 – ChannelAdvisor, a software and services solution provider that enables online retailers to sell more across e-commerce channels, announced today that the summer slump is a myth. Setting a company record for customer acquisition in the third quarter, ChannelAdvisor exceeded its previous bookings record by more than 50 percent, reporting 385 new customer additions including Biblio.com, Brothers Performance, Bulbs.com, Corporate Express Australia Limited, Dooney & Bourke, Ford Motor Company, Govberg Jewelers, Lenox Corporation, Le Chateau Inc., Shoebuy.com, The Sharper Image and in the United Kingdom Ann Summers, New Look, SanDisk and TJ Hughes. Among the new customer additions were numerous Internet Retailer 500 (IR 500) retailers, bringing ChannelAdvisor’s total to 129 of the IR 500. ChannelAdvisor also announced its fastest rate of quarterly revenue growth in more than a year as more retailers consolidated disparate e-commerce functions within ChannelAdvisor’s platform and adopted additional products such as the new Mobile Webstore.
“Retailers need a strong e-commerce partner to help them sell more, and our growth is evidence of ChannelAdvisor’s role as the essential partner in global e-commerce,” stated ChannelAdvisor CEO Scot Wingo. “This quarter’s growth has been fueled by an influx of retailers interested in consolidating their e-commerce channel management, and ChannelAdvisor is the leading solution provider that gives retailers the ability to navigate and manage multiple e-commerce channels from one platform.”
ChannelAdvisor customer Ritz Interactive recently launched ChannelAdvisor’s Marketplaces solution and has already experienced significant growth. “We signed on with ChannelAdvisor’s Marketplaces solution with plans to launch just two of our interactive sites on Amazon,” said Andre Brysha, senior vice president and chief marketing officer at Ritz Interactive. “Upon implementing the solution for the first sites, eAngler.com and BoatersWorld.com, our sales increased by 50 percent on Amazon. Due to this early success, we plan to launch RitzCamera.com and ScrapbookingAlley.com ahead of schedule.”
Continuing its multichannel approach to e-commerce, ChannelAdvisor released a Mobile Webstore solution that allows retailers to quickly and easily create a mobile-optimized version of their website. Without having to design a new site, retailers can now launch a mobile-ready webstore that is compatible with all smartphones and ensure that shoppers can buy anytime, anywhere.
Another key third-quarter product update was the Inventory Juggler, a feature that allows retailers to list the same inventory item quantity on multiple marketplaces simultaneously, without the need to allocate exclusive quantity to a specific marketplace. ShoeMetro.com, a San Diego-based online retailer of shoes, experienced substantial growth from the Inventory Juggler in just one month.
“With the nature of our business, sometimes we’ll get a pair of shoes in just one size—in fact, unique items account for a significant part of our inventory,” said David Doung, president of ShoeMetro. “Since implementing the Inventory Juggler, we’re able to list those unique items on multiple marketplaces to maximize exposure without fear of overselling. So far we’ve seen a 22 percent increase in sales due to the Inventory Juggler.”
Additional third-quarter product updates included the following:
Other highlights of the quarter included ChannelAdvisor’s Comparison Shopping solution having been named the Top Comparison Shopping Provider to IR 500 retailers. ChannelAdvisor’s Paid Search and Rich Media solutions also received honorable mentions for being used by the second- and third-most IR 500 retailers, respectively.
ChannelAdvisor is a software provider that helps retailers worldwide sell more online through channels such as marketplaces, paid search and comparison shopping, and with webstores and rich media solutions. Widely respected as the essential partner in e-commerce, ChannelAdvisor is the only company that calms the chaos of online selling by enabling retailers to submit one inventory feed to the ChannelAdvisor platform where it is translated to fit the specifications of e-commerce channels and distributed accordingly. The robust reporting capabilities of the ChannelAdvisor platform allow retailers to track their progress across e-commerce channels to make immediately actionable, performance-based decisions. For retailers of all levels of expertise, ChannelAdvisor’s industry-certified services team offers expert advice and custom service packages. In 2009, ChannelAdvisor managed $2.6 billion in gross merchandise value (GMV) on behalf of retailers of all sizes including Saks, Dell, Brookstone, GSI Commerce and 129 of the Internet Retailer Top 500 online retailers. ChannelAdvisor is headquartered in Research Triangle Park, NC with offices in Atlanta, New York, Seattle, Australia, Ireland, Germany and the United Kingdom. For further information, visit www.channeladvisor.com.