Boomerang Commerce Rebrands as CommerceIQ™ to Focus on Ecommerce Growth for Brand Manufacturers

(580 words, 3 min read)

At CommerceIQ, we’re witnessing, and building, the modern definition of Singularity:

“ sin·gu·lar·i·ty - a moment in time when artificial intelligence becomes so advanced that humanity undergoes a dramatic and irreversible change.”

On what started as a boring Tuesday morning early last month, my colleagues at CommerceIQ and I wound up witnessing singularity. And it happened as below:

8AM: “All systems GO” check and thumbs up from our brand new customer. (About our Customer: They sell health care products - $20B worth every year in the US, and $700M of it on Amazon.)

9AM: CommerceIQ (and it’s AI machine) is “turned on”

Noon: 120 actions taken, related to sales operations including but not limited to:

• Filing trouble tickets on Amazon to contest “Out of Stock” and andon cord issues
• Identifying rogue sellers creating duplicate listings and 3P variants
• Coordinating back-office supply chain to the true forecast of their expected sales on Amazon
• Automated reconciliations of charge back issues from Amazon - related to Purchase Order discrepancies and other supply chain “non-issues” (classified incorrectly by Amazon as “issues”)

Midnight: A harmonious Amazon Advertising machine starts working - one that is first and only in the industry that is profit and inventory aware

By the end of just 4 weeks, I got back a report from my customer success manager:

1. 100% of rogue 3rd party variations removed from all PDPs.
2. Revenue leaks from inventory and andon-cord issues reduced by whopping 40%.
3. OOS rate is on a path to recovering from an abyss of 18% to 9%.
4. ACoS improved by 12% points
5. “Share Of Voice” is up 15% points
6. Revenue run-rate up by $18M!

CommerceIQ brought a dramatic and irreversible change to this customer. That’s the power of AI! When you have machines work on your behalf and making you 10x more effective, you experience a change - and in a way, Singularity! And for our customer above, life is never going to be the same old “playing catchup”, “manual”, “uncoordinated” and “unprofitable hell” that Amazon was. The Amazon sales channel is now associated with “proactive”, “automated”, “coordinated” and “profitable growth”.

With 500+ brands having experienced such an irreversible change, how can you not be excited about what’s in store for the future? How can you not be excited about jumping out of bed and tap dancing to work every single day. That’s my life and the life of every single colleague, and my customers!

2 weeks ago, we exited our retail business..

.. by deploying our technology and people assets into Lowe’s. What an exit for our retail business and colleagues! They now set forward to build the technology core for a Fortune 40 company! This also represents an exciting outcome for our shareholders, and customers of our newly re-branded entity, CommerceIQ.

And we, at CommerceIQ, now double down on our unwavering vision to build the world’s most intelligent and automated commerce platform.

We have been using this platform to make our early customers - brand manufacturers win on Amazon, and e-Commerce! With a beautiful looking Balance Sheet, we now turn on our boosters:

• by accelerating our product roadmap
• by increasing our investment in economics, analytics and data science
• by hiring top notch customer success professionals
• by expanding our Mountain View, Bangalore and Seattle offices
• by making aggressive acquisitions in this space

Here’s to many more “singularities”! And here’s to taking control of AI and making humans mega powerful! If you’re a VP of E-Commerce at a brand manufacturer, I look forward to empowering your team with AI, and turning them into a superhuman force - giving them an unfair advantage to profitably win market-share!

Postscript FAQs

1. Are you owned by Lowes?

NO!! CommerceIQ™ is an independent company, backed by world-class investors Madrona Venture Group - an early investor and current board member at Amazon, Shasta Ventures and Trinity Ventures. We are powered by some of the industry’s smartest minds on a mission to build the world’s most intelligent and automated commerce platform!

2. Does CommerceIQ™ still own its technology?

Yes, all of our technology is proprietary; imagined, designed, and developed in-house by our world-class team of product managers, designers and engineers and fully belongs to CommerceIQ™.

3. Is your team team still with you?

Yes, our engineering, product, sales, marketing and customer success teams along with our leadership team is still part of CommerceIQ™. The retail team has moved on to Lowes.

4. How does your rebranding help me as a customer?

It is an exciting time to be a CommerceIQ™ customer because we are well capitalized and positioned to attract world-class talent who can innovate on your behalf. We are scaling up our investment in product, GTM and customer success teams to accelerate our roadmap and service you better. We are also looking to acquire complementary technology and companies that add more value more quickly.