Groupon acquires Presence AI to bolster booking capabilities with AI

“Presence AI is Groupon’s first public acquisition this year following its purchase of U.K. cloud savings company Vouchercloud for $65 million in May 2018. Prior to that, the company snatched up rival LivingSocial in October 2016 for a price low enough to be considered “not material.”

Consumer Goods, eCommerce Sales and Groupon

Sunil Rao, Global Head of Consumer Goods, Salesforce

Three ways consumer goods leaders are investing in the future

  • “Amazon’s reach has swept the industry: 68% of CG leaders think that consumers are more loyal to Amazon’s Marketplace than individual brands.
  • Retailers and brands are losing the battle for replenishment: Shoppers are choosing online marketplaces 47% for repeat purchases, ahead of retailers (34%) and brands themselves (20%).
  • Powerful private-label brands from the likes of Tesco, Hema, Costco, Amazon, and Walmart are soaring to new heights: In 2018, Costco’s Kirkland brand earned nearly $40 billion — an 11% increase from 2017 (and more sales than Campbell Soup, Kellogg’s, and Hershey combined).”

Commerce Dept: eCommerce Sales Jump 12.4 Pct In Q1

  • “The Commerce Department reported Friday (May 17) that eCommerce sales were up 12.4 percent from last year to $127.3 billion, measured in terms of non-seasonally-adjusted data.
  • And eCommerce sales have doubled through the past five years, noted Seeking Alpha, reaching a recent threshold last year of more than $500 billion.
  • Walmart stated that its eCommerce sales grew by 37 percent. Management said on the earnings call”

Groupon Celebrates 200 Million App Downloads

  • “Planned mobile improvements in 2019 include using Groupon’s proprietary data, machine learning and AI to improve discovery, relevance and service on the platform. Mobile is also a key enabler of Groupon’s booking and voucherless initiatives that make it easier for people to use their Groupons.”