Pattern Leverages AI and Data to Fuel eCommerce Growth<\/p>\n
eCommerce accelerator Pattern is seeing a \u201cvirtuous cycle\u201d in which the company uses its data to deliver results to brands, other brands see that success, and those brands provide the company with more data, Pattern Co-Founder and CEO Dave Wright said during a Wednesday (Aug. 5) earnings call<\/p>\n
Ask by an analyst about a year-to-date increase of 38% in Pattern\u2019s data points, which brought the total to 91 trillion, Wright said the company uses the data to run A\/B tests that help determine, for example, which messaging will resonate with an aggregate of five to 10 personas and drive the most dollars<\/p>\n
\u201cOf course, the data and the data moat that we have is invaluable at this point and is continuing to grow,\u201d Wright said<\/p>\n
Pattern leverages the data points, together with machine learning and artificial intelligence models, to optimize and automate advertising, content management, logistics and fulfillment, pricing, forecasting and customer service to drive eCommerce growth<\/p>\n
The company\u2019s eCommerce acceleration platform serves hundreds of global brands across more than 70 global marketplaces, according to a Wednesday press release<\/p>\n
Pattern measures its performance through net revenue retention (NRR), which compares total revenue attributable to existing brand partners in the current trailing 12-month period to that of the previous trailing 12-month period. NRR provides insight into, among other things, the accelerated growth delivered through Pattern\u2019s platform, according to a presentation released Wednesday<\/p>\n
During the second quarter, Pattern\u2019s NRR was 129%, up from 118% a year earlier, per the presentation. Wright said during the earnings call that the NRR is at a record high<\/p>\n
\u201cWe hold ourselves to NRR because it measures what matters most, the outcomes we deliver for our brands,\u201d Wright said during the call. \u201cWhen our brands win, we win. They stay with us, they expand with us, and that record is the most persuasive thing our teams bring to the next brand considering Pattern.\u201d<\/p>\n
Pattern expanded its offering<\/a>s during the quarter with the launch of Pattern Intelligence (Pi), an AI engine designed to automate marketplace management for global brands<\/p>\n During the second quarter, Pattern saw its revenue grow 47% year over year to a record $877 million, its international revenue increase 87% year over year to a record $110 million, and its revenue not attributable to Amazon rise 93% to a record $82 million, per the release<\/p>\n \n Related:<\/strong> \n <a href="https:\/\/yoursite.com\/automation-africa\/" title="WhatsApp<\/a> Marketing<\/a> Automation Africa: 6 Dangerous Mistakes Brands Make in Nigeria”> Join Justfine Infotech<\/strong> and build real digital skills in AI, automation, web development, digital marketing, office productivity, e-commerce, freelancing and cybersecurity.<\/p>\n Available Programmes:<\/strong> WhatsApp:<\/strong>
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