Today we released Product Cloud 2.0, the latest iteration of ShopSavvy’s proprietary big-data platform that enables our millions of active users to easily find real-time pricing, inventory, reviews and other information for more than 20 million products. Field testing of top price-comparison apps shows that ShopSavvy consistently displays more local store results as well as online price results and lower prices for a greater variety of products than Amazon Mobile, eBay’s RedLaser, and other major platforms.
Based on a study of 600 random product searches across popular product categories such as consumer electronics, video games, books, movies, home and family, and office products, ShopSavvy outpaced other apps in the number of results displayed. For example, with Product Cloud 2.0 ShopSavvy displayed on average 30 percent more local, in-store offers than RedLaser, as well as almost twice as many online price results. This new back-end update continues our commitment to local commerce and our customers will start to see improvement in results and content immediately.
Innovations like Product Cloud 2.0 bring much more robust connections to ShopSavvy Marketplace, which allows our retailers to enter and manage their inventory, price and store information directly into our mobile marketplace of retailers. We’ve been adding around 150 new retailer accounts each month and Product Cloud 2.0 advances our local store results in particular when our customers want convenience and immediacy of buying locally.
ShopSavvy has the best price on new products 67 percent of the time, while Amazon has the best prices only 5 percent of the time. The average competitor has the best result only 17 percent of the time. For used products, ShopSavvy has the best price 96 percent of the time, while eBay’s RedLaser only has the best prices 12 percent of the time. The average shopping platform has the best prices 9.5 percent of the time.
Our promise to customers is to provide a neutral and unbiased shopping experience. We are not trying to steer customers to any particular retailer or tilt the playing field for one retailer over another. We are committed to building a healthier and more vibrant marketplace for our customers and leveraging big data technology to help users shop smarter.