CommerceHub Enables $7B In 2013 Retail Gross Merchandise Value
Leading Cloud-Based Merchandising and Fulfillment Platform Sees Continued Success as Retailers Expand Product Assortments with Third-Party Fulfillment
Albany, NY /PRNewswire/ - CommerceHub, the leading cloud-based online merchandising and fulfillment platform for large online retailers and suppliers, announced today $7 billion in online retail Gross Merchandise Value (GMV) transacted through the company's platform in 2013. The $7 billion in GMV, reached as a result of processing orders from 40 of the largest retailers in North America, represents growth of over 30 percent from 2012 -- twice the 15 percent growth rate of general ecommerce, according to retail analytics firm eMarketer.
"Last year was a tremendous year for CommerceHub, and it further validates third-party fulfillment as the primary approach for online retailers to increase revenue through radically expanded product assortments," said Frank Poore, Founder and CEO of CommerceHub. "Our 2013 GMV represents billions in incremental revenue for our retail clients that would have not otherwise been possible without significant investment in inventory and fulfillment centers."
CommerceHub's platform seamlessly connects omni-channel retailers such as Costco, QVC, Best Buy, Kohl's, Staples, and Wal-Mart with over 7,500 suppliers that ship millions of products directly to their customers. Those retailers sell suppliers' products on their online storefronts and marketplaces. Once purchased, the products are packaged and shipped directly to customers by the supplier. Because retailers do not have to purchase or store the products to sell them, they are able to radically increase their product assortments and boost their top line sales without investment in additional inventory.
"This year, CommerceHub made a big commitment to our third-fulfillment approach by investing in our platform's infrastructure, growing our manufacturer, distributor, and seller network, launching new products and services aimed at selling more products, and hiring some of the best and brightest in the online retail industry," said Poore.
In 2013, CommerceHub added over 1,500 new manufacturers, distributors, and sellers to its supplier network, the largest of its kind, as well as launched Product Stream, a collaborative platform for product content exchange between retailers, suppliers and marketplace sellers. To help meet the increasing demand for CommerceHub's platform by retailers and suppliers, the company grew employment by 40, to a total of 175 employees. This included the high-level appointments of Jim Lofgren as Chief Merchandising Officer and John Hinkle as Executive Vice President of Production Systems.
For more than 15 years, CommerceHub has been providing cloud-based technologies and services that enable retailers to radically expand their product offering without inventory risk. CommerceHub makes it possible to integrate with any product source, and provides all of the tools necessary to identify new sources of products, rapidly build SKUs, and ensure the smooth the delivery of goods to customers.
Providing an unparalleled platform and scalability, CommerceHub in 2013 helped top online retailers in the US and Canadaachieve $7 Billion in retail sales through drop-ship fulfillment. These expanded assortment orders were successfully processed and fulfilled directly to consumers by more than 7,500 integrated suppliers, distributors, manufacturers and 3rd party sellers. For more information, visit http://www.commercehub.com
SOURCE: CommerceHubCopyright 2014 PR Newswire. All Rights Reserved