Anticlimax: Monetate, Pa. retail-software maker that drew $46M from hopeful investors, bought by Texas competitor

  • “Monetate, a Conshohocken-based company whose software personalizes online shopping for customers, announced Thursday that it is being acquired by Kibo, a Dallas-based rival.
  • Kibo, which employs about 265 people, provides cloud-based software for online commerce. In February, it acquired Certona, a recommendation engine that also uses AI to streamline e-commerce sales. Kibo’s client base includes about 600 business-to-business and consumer retailers and brands, according to the company.”

https://www.google.com/amp/s/www.inquirer.com/business/retail/monetate-kibo-vista-ecommerce-ai-personalization-engine-20191010.html%3foutputType=amp


Stephen R. Collins

CEO Monetate

http://linkedin.com/in/srcollins

Black Friday: Traffic +7.7% / AOV +3.5% / Conversion -11.3%

Wow…this press release is a treasure trove of data on Black Friday, Cyber Monday and the entire shopping weekend for US, UK and Canada. Here’s just a snippet…

“In the U.S., 2018 Thanksgiving holiday shopping bounce rates increased by 12 percent from 2017. Additionally, cart abandonment rates increased by 2.6 percent and conversion rates decreased by 9.7 percent. Black Friday shopping in the U.S. revealed mixed results compared to 2017; while traffic was up 7.7 percent and Average Order Value (AOV) increased 2.5 percent, conversation rates were down 11.3 percent. On Cyber Monday, AOV was up 3.4 percent, but conversion rates were down 16.2 percent—a continuation of the YOY trend of U.S. shoppers consolidating purchases on the biggest online shopping day of the year.

“The holiday shopping period presents tremendous opportunity for retailers to win new shoppers and convert them into returning customers. Our data, however, reveals that brands are struggling to take advantage of this opportunity,” said Stephen Collins, CEO of Monetate. “Retailers must reconsider their engagement strategies to ensure they are capitalizing on increased website visits. It’s imperative that retailers leverage every data point at their disposal to create the best and most relevant experiences for shoppers.”

https://www.businesswire.com/news/home/20181127005850/en/Monetate’s-Day-Global-Holiday-Ecommerce-Analysis-Reveals