The deal, announced Thursday (July 17), will allow Rokt to expand its offering with a new product dubbed Rokt Catalog, allowing clients to access a network of inventory from direct-to-consumer (D2C) brands.
“This acquisition not only expands our products and the Rokt Network, it redefines the advantage we provide to our ecommerce partners,” Rokt CEO Bruce Buchanan said in a news release.
“By integrating Canal’s catalog with our AI-powered Rokt Brain, we’re unlocking a new level of relevancy that makes the shopping experience better for every consumer.”
The company adds that the deal will let brands land new customers through a distribution channel that serves as an extension of Rokt Ad, presenting their products in “shoppable, contextually relevant formats” during eCommerce transactions.
The acquisition also gives Rokt customers expanded network reach, as Canal works with roughly 1,900 retailers and D2C brands. This network includes companies such as Macy’s, Shein, Anine Bing, True Classic, Jonathan Adler, 3.1 Phillip Lim, and Uncommon Goods.
In other eCommerce news, PYMNTS wrote Thursday about the complexities merchants face when they try to expand on the global level, as payment failures and consumer preferences can quickly hinder international sales.
Despite widespread digital adoption, cross-border payments continue to pose significant challenges for merchants, according to the “Payments Optimization: Powering Global eCommerce Growth” report, part of the Payments Optimization Tracker Series produced by PYMNTS Intelligence with Worldpay.
“These frictions can impede international sales, even as global eCommerce is projected for substantial growth through 2030, exceeding $10 trillion in value,” PYMNTS wrote.
“The report highlights that not all merchants are adequately prioritizing shopper convenience in international transactions, yet optimizing these digital payment experiences is crucial for maximizing global sales and meeting consumers’ evolving expectations.”
The study explores a landscape where cross-border transactions often prove tougher for retailers than domestic ones. Major obstacles include consumer worries about lengthy delivery times, fraud concerns, returns difficulties, and unexpected high transaction fees, all of which negatively impact conversion rates.
The research reveals that 72% of merchants experience higher rates of failed payments in cross-border transactions, leading to customer frustration and abandonment, with 55% of customers giving up if multiple attempts are needed.
“The report emphasizes the ‘all payment is local’ imperative, noting that nearly all cross-border shoppers — 99% — expect to pay using their preferred, customary methods, and 94% in local currencies, highlighting the necessity for merchants to replicate a local shopping experience with speed, choice, security, convenience and clear communication,” PYMNTS added.
