Wix Acquires Rise.ai to Extend Native Wix eCommerce Platform Offering
Acquisition will provide Wix eCommerce merchants with native customer re-engagement tools for building long-term customer value
Wix, a leading global SaaS platform to create, manage and grow an online presence, announced the acquisition of Rise.ai, the gift card and customer re-engagement solution for online brands. The acquisition will extend the Wix eCommerce platform, providing a full solution for merchants to manage customer re-engagement activities aimed at increasing customer spending and repurchases, including gift cards, loyalty programs, rewards and referrals.
The Wix eCommerce platform powers businesses of all types, including online stores, service providers, restaurants, events and many more. It provides merchants with a full solution to create, manage and grow their eCommerce business to sell online and in person. Using Wix, merchants can sell through multiple sales channels including web and mobile storefronts, social media, online marketplaces and physical retail locations, as well as manage and track inventory, orders and fulfillment to payment and brand marketing.
In 2020, Wix users processed over $5.4 billion in online transactions on the Wix platform, an increase of 126% over 2019. In addition, Wix eCommerce merchants saw an increase of 140% year over year growth in sales transactions in 2020 compared to 2019.
The acquisition of Rise.ai will provide Wix eCommerce merchants with its own fully native customer re-engagement solution. Wix eCommerce merchants will be able to easily access the full suite of tools for their Wix eCommerce stores. These tools will significantly help them grow long-term customer value by increasing customer retention through loyalty programs. Strong customer re-engagement tools help increase order frequency, grow AOV (Average Order Value), drive repeat sales and build customer relationships by providing value throughout the customer journey.
Recommended AI News: CodeLogic, Inc. Launches First Comprehensive Application Dependency Mapping Solution
“We are excited to expand our offering and services as part of the Wix eCommerce strategy,” said Arik Perez, Head of Wix eCommerce. “By providing merchants with more native tools, we can help them grow long-term customer value and revenues to build their businesses and keep optimizing and increasing profitability. Rise.ai is considered to be the best solution of its kind in the market, and the integration will enable merchants to easily manage and maintain customer engagement tools, ultimately leading to increased loyalty and revenue.”
“Customer retention has become the top priority for eCommerce brands worldwide, as acquisition costs continue to spike,” said Yair Miron, founder and CEO of Rise.ai. “Since our founding, we have powered tens of thousands of leading brands with loyalty and re-engagement solutions to grow their businesses. We are now thrilled to join Wix and bring Rise.ai to hundreds of thousands of online stores around the globe and help them rise.”
Recommended AI News: Cologix Completes Acquisition of Silicon Valley Data Center