Receive the latest articles for free. Click here to get the Mobile Commerce Daily newsletters.
Purch speeds into mobile search, deals with ShopSavvy acquisitionBy
In a reflection of the convergence of content and commerce on mobile, digital publisher Purch has acquired shopping application ShopSavvy and will integrate its mobile search and deals aggregation technology into multiple sites.
ShopSavvy will bring new monetization opportunities to Purch as the role of mobile applications continues to grow for consuming content and making purchases. For Purch, which operates Web sites such as Top Ten Reviews and Tom’s Guide, the deal will accelerate its strategy of combining content and commerce into the mobile space.
“By integrating ShopSavvy’s powerful back-end mobile product search and machine-learning technology across Purch’s sites, we’re now able to provide consumers with all the information they need to find the best product, at the best price, in the most convenient way possible,” said Phil Barrett, senior vice president at Purch.
“Aggregating millions of products from thousands of retailers to send sale and deal alerts based on shopper interest, intent and location, this integration enables marketers to drive loyalty and increase the lifetime value of users,” he said.
ShopSavvy’s back-end mobile product search and machine-learning technology will be integrated across Purch’s sites to surface and categorize deals and power price comparisons for its audience.
Purch’s Web sites, which reach 100 million consumers every month, offer reviews and other content to help consumers make purchasing decisions.
With mobile now a primary channel for researching products and its role in sales continuing to grow, ShopSavvy, which boasts more than 1 million active monthly users and 30 million downloads to date, is an attractive acquisition target for a company such as Purch. The mobile shopping app also features more than 40,000 retailers and 100 million products.
The ShopSavvy deal is Purch’s fourth acquisition in 12 months, including its deals for ActiveJunky and Consumr, now PurchX.
ShopSavvy, which is backed by Facebook co-founder Eduardo Saverin and former Saks CEO Brad Martin, will remain a standalone app.
Key functionality in the ShopSavvy app includes the ability to search for products by name or by scanning bar codes to find items at nearby stores or online and compare prices, product details and reviews.
ShopSavvy’s Apple Watch app
ShopSavvy also aggregates and categorizes deals from thousands of retailers, sends sale alerts on searches and shares daily and weekly deals based on shopper interest, intent and location.
“In 2016, we expect mobile apps will become a real contender in the purchase cycle—and a driver of increased conversions and customer loyalty,” Mr. Barrett said. “With the vast majority of consumers’ mobile Internet time spent in apps, apps are the future of mobile content and shopping.
“To reach and monetize consumers on-the-go, we’ll see more companies providing user-centric mobile experiences via mobile apps – with more personalized and relevant content,” he said. “ShopSavvy does just that with its price comparisons and deal engine.”
Chantal Tode is senior editor on Mobile Commerce Daily, New York
Like this article? Sign up for a free subscription to Mobile Commerce Daily's must-read newsletters. Click here!
leave a response, or trackback from your own site.