Online marketplace Fruugo has expanded the number of people in the business by 50 per cent over the last year, as the global marketplace continues to provide new global opportunities for sellers in over 45 countries through enhancing its platform with powerful new algorithms.
As the world continues to face the challenges of post-pandemic recovery, Fruugo’s platform has been used by over 1,400 retailers to help offset the loss of physical sales and expand their eCommerce operations internationally. As many retailers turn to eCommerce, Fruugo’s in-house technology team made significant improvements to the platform over the past year to ensure the global demand and growing customer opportunities were simple to navigate for new and existing sellers.
Fruugo’s proprietary technology is now at the epicentre of helping retailers capitalise on any eCommerce trends, putting the platform in a unique position to help sellers cater to the past year’s eCommerce boom. One of its key new predictive algorithms uses historical data to accord a score to the importance of each attribute of a product, and uses these weightings to determine the likelihood that a product will generate a sale. The Fruugo platform uses this data to influence the way in which each product is advertised, so that the opportunities for each retailer is maximised for success.
Fruugo also gives tailored feedback to its retailers on any attributes that are scored poorly. For example, if a retailer uses descriptions that are too short or images that are of poor quality, Fruugo recommends specific improvements that will help improve the likelihood of a sale.
Due to growing online demand, Fruugo saw order volume increase by 104 per cent, overall transaction value spike by 110 per cent in 2020, and want to use this new demand to continue opening up new seller opportunities.
To ensure every seller is catered to, Fruugo has used the past year to hire numerous new business colleagues, ranging from software engineers, product owners, data scientists & analysts and customer service personnel. The marketplace has seen a colleague growth rate of 50 per cent over the last twelve months, all of which provide dedicated services to ensure the website, customer service, audience opportunities, translation and product orders are of the highest quality.
Tony Preedy, managing director at Fruugo, comments: “As retailers continue to face the challenges of this global crisis, we want to give retailers as many opportunities to continue trading as possible. We strive to give sellers as much information about their products and selling process as possible, readily available at their fingertips, which we can provide with our proprietary technology.
We aim to offer new global opportunities to all our new and existing sellers and will continue expanding our business and improving our platform to ensure these opportunities arise.”
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