Bazaarvoice Acquires Curalate
Bazaarvoice, a provider of product reviews and user-generated content (UGC) solutions, has acquired Curalate, a provider of shoppable social, UGC, and influencer marketing solutions to more than 1,000 companies, including Best Buy and Lululemon. Financial terms of the deal were not disclosed.
Curalate's technologies turn images into digital storefronts. With the integration of Curalate, Bazaarvoice will allow companies to leverage social content to drive sales on social media sites, on websites, and throughout the Bazaarvoice retailer network.
Bazaarvoice customers will benefit from Curalate's solutions for turning social content into shoppable experiences along with Curalate's badged relationship status with leading social media platforms, including Facebook, Instagram, and Pinterest.
Recent Bazaarvoice research highlighted the importance of social content in the purchase journey, particularly for Gen Z, who are 34 percent more likely than other age groups to find out about new brands and products through influencers. According to Bazaarvoice's Shopper Experience Index, about 42 percent of global shoppers say they have made purchases on social media.
The Shopper Experience Index also revealed a 17 percent year-on-year increase in reviews that include photos across its network and a 67 percent increase in photo submissions among its Influenster community of influential shoppers who are invited to review products.
"Consumers are increasingly referring to images and videos within reviews to be able to buy online with confidence. As shoppers turn to e-commerce in unprecedented numbers due to the COVID-19 outbreak, empowering them with access to this type of UGC has become more important than ever," said Keith Nealon, CEO of Bazaarvoice, in a statement. "Our acquisition means brands and retailers can take advantage of the huge consumer appetite for visual content and social shopping. They will benefit from the most engaging and effective ratings and review content, expertly delivered through partnerships with the world's major social platforms."
"From the outset, Curalate has believed that social media and visual content would shape how consumers shop. This vision has been validated by the more than 1,000 brands we work with and the hundreds of millions of people who engage with Curalate experiences," said Apu Gupta, CEO and co-founder of Curalate, in a statement. "Now, by joining Bazaarvoice, we have the opportunity to accelerate what we started while bringing an extraordinary value proposition to brands and retailers globally."