Newegg Teams with PromoteIQ to Empower Vendor-Direct Sellers to Broaden Reach, Increase Sales

Rhea-AI Summary

Newegg Commerce, a leading tech-focused e-retailer, has partnered with PromoteIQ to enhance product visibility for its vendor-direct sellers. This collaboration allows vendors to self-serve targeted promotions in real time, potentially increasing sales on Newegg's platform. Customers will benefit from tailored shopping experiences, while vendors gain access to analytics and insights to refine their marketing strategies. The partnership is aimed at empowering brands to drive conversions effectively, reinforcing Newegg's commitment to supporting its vendor partners.

Positive

• Collaboration with PromoteIQ enhances vendor marketing capabilities.
• Vendors can self-serve targeted promotions to boost sales.
• Access to analytics helps vendors refine future marketing strategies.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- Newegg Commerce, Inc. (NASDAQ: NEGG), a leading tech-focused e-retailer in North America, today announced its collaboration with PromoteIQ, a leading retail media platform that enables vendor-direct sellers to promote products to in-market shoppers to increase sales in real time.

“We’re always searching for ways to empower our vendor partners to use the Newegg platform more efficiently,” said Benny Tam, VP of Merchandising and Category Marketing at Newegg. “The partnership we forged with PromoteIQ marks an important step forward in that effort, giving brands even greater control over how customers discover their products on Newegg.com.”

PromoteIQ is a powerful performance marketing channel used by thousands of the largest global brands across a broad spectrum of e-commerce platforms. Vendor-direct sellers on Newegg.com now have the ability to self-serve targeted promotions to increase sales. Promoted products appear within native placements embedded alongside organic site content, ensuring a positive experience for shoppers.

“We’re pleased to help Newegg offer its vendor-direct sellers a powerful new tool to promote their products and increase sales in real time,” said Alex Sherman, CEO at PromoteIQ. “Boosting product visibility to in-market shoppers is one of the most effective ways for brands to drive conversion, and we’re happy that Newegg chose PromoteIQ to provide this powerful new tool to its vendor-direct sellers.”

In addition to self-serving targeted promotions to customers while they shop, vendors will also have access to robust analytics and real-time insight about how their products perform on Newegg.com. Mapping the customer’s path to purchase includes rich data around shopper purchases and marketing attribution, enabling vendors to further refine how they target customers to increase future conversion.

Vendors selling on Newegg.com are invited to contact Newegg@PromoteIQ.com to learn more about self-serve target promotions on the Newegg platform. Like Newegg on Facebook, subscribe to Newegg on YouTube and follow Newegg on Twitter to stay up to date on the company’s latest news.

About Newegg Commerce, Inc.

Newegg Commerce, Inc., headquartered in the City of Industry, California, is a leading tech-focused e-retailer in North America and serves a global customer base throughout Europe, Asia Pacific, Latin America and the Middle East. Founded in 2001, the company offers direct sales and an online marketplace platform for desktop PCs and IT computer hardware, consumer electronics, automotive, gaming products and finished goods. Newegg also offers an extensive portfolio of technology, marketing, logistics and other partner services to help companies grow their business. For more information, please visit https://www.newegg.com/.

This news release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinion, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including "will," "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "should," and certain of the other foregoing statements may be deemed forward-looking statements. Although Newegg believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. The Company's SEC filings are available at http://www.sec.gov.

About PromoteIQ

PromoteIQ is a Retail Media platform connecting brands with the world's largest retailers and their active shoppers. Our technology platform and business services empower global enterprise retailers in grocery, apparel, home improvement, consumer electronics, and other industries to offer premium marketing opportunities across the retail ecosystem. PromoteIQ makes it easy for advertisers to promote their brand and products to in-market shoppers, increasing customer lifetime value while creating strong returns on advertising investments. PromoteIQ was founded in 2012 in New York City and acquired by Microsoft in late 2019. We're shaping the future of retail media; to learn more, please visit promoteiq.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211020005377/en/

FOR MORE INFORMATION, CONTACT:

John Snedigar

Faultline Communications

john@faultlinecomms.com

408-705-7518

Investor Relations:

Lena Cati

The Equity Group Inc.

212-836-9611

lcati@equityny.com

Source: Newegg Commerce, Inc.

FAQ

What is the significance of Newegg's partnership with PromoteIQ?

The partnership allows Newegg's vendor-direct sellers to self-serve targeted promotions, enhancing product visibility and potentially increasing sales.

How will the PromoteIQ collaboration impact Newegg's vendors?

Vendors will gain the ability to run targeted promotions in real time and access analytics to track product performance, improving their marketing effectiveness.

When was Newegg's partnership with PromoteIQ announced?

The partnership was announced on October 20, 2021.

What benefits does the PromoteIQ platform provide to Newegg?

PromoteIQ enhances marketing opportunities for vendors, allowing them to increase product visibility and drive conversions on Newegg's platform.