Elevaate has now served over half a billion products to customers! We are incredibly proud of hitting this milestone so quickly – reflecting the scale of the problem we are solving. We are helping partners gain better attention, consideration, and sales. We are helping site owners create a new profit-focused revenue stream that supports the core purpose of the business, often used to re-invest into customer acquisition or enhance customer experience.
Through our work with big brands such as House of Fraser, Lacoste, Unilever, Coca Cola, and Hugo Boss – and niche brands like Not On The High Street and their 4,300 partners – we have found some interesting insights that we’d like to share.
1. The right product in the right place can outperform price discount. We have seen top line sales increase by 400% by increasing the exposure of products within category. These products are often buried for customers and due to an over reliance on algorithms are never given the chance to shine. At full price we are able to outperform price discounts – driving higher top level revenue while protecting margin and brand.
2. The physical restriction of bricks and mortar limits cross selling opportunity, but that isn’t the case online. The over reliance on static taxonomy means that site owners miss out on using the deep expertise that their partner base can provide. By unlocking cross-sell opportunities across the site; we have helped partners leverage their product and category knowledge to drive sales by matching categories and products. It also increases basket size and value, and makes a customer shopping journey easier and more lifestyle driven. Win, win, win.
3. Increasing visibility while offering a price discount drives significantly more uptake. If you do decide to run a price promotion, you need to ensure that it has maximum visibility to get the uplift needed to justify the price reduction. We have been able to increase sales by 175% vs a price promotion baseline. Through supporting promotional mechanics we are able to extend and improve the reach and success. Don’t forget though, we can also increase sales while reducing the reliance on price discounting.
So whether you need to support new product launches, increase promotional exposure and impact, or increase sales at full price, the Elevaate team can help.