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Chumbak Personalizes Offering Via Infinite Analytics/Microsoft Dynamics Integration

Infinite Analytics, a machine learning and predictive analytics platform, has released its personalization engine on the Microsoft Dynamics AX platform. The solution was showcased at the NRF Big Show, and has been adopted by Indian lifestyle products retailer Chumbak.

The Infinite Analytics personalization engine is designed to provide an immediate impact on shopper conversion rates and online revenues via the use of proprietary machine learning algorithms.

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Evergage Scores $10 Million To Boost Personalization

1evergageReal-time personalization provider Evergage has raised an additional $10 million in venture capital, bringing the total funds raised to more than $21 million. This Series B round was led by Arrowroot Capital, which joins existing investors G20 Ventures and Point Judith Capital. The additional investment will increase personalization budgets, boost growth and strengthen the company’s position to meet customer needs.

Evergage has advanced significantly in 2015 with an increase in average contract value and year-over-year revenue, as well as in-depth testing functionality, mobile app support and account-based marketing. The company plans to increase its headcount by more than 70% by the end of 2016.

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TouchSocial Fosters Personalized Social Media Engagement Between Brands And Consumers

Mobile chat solution provider TouchCommerce has introduced the TouchSocial personalized engagement experience, enabling shoppers to seamlessly connect with a customer service expert or take advantage of a personalized self-service option via social media.

Retailers can utilize the TouchSocial platform to:

  • Enable consumer sentiment analysis;

  • Allow social media marketers to escalate a conversation to the brand’s customer care department;

  • Resolve issues outside of the social network immediately and in the right context; and

  • Boost customer satisfaction rate and net promoter scores (NPS).

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Spiraledge Bolsters Conversion Rates Across Desktop And Mobile Via Personalization

As consumers' expectations around the shopping experience continue to rise with the advent of newer technologies and additional sales channels, more retailers are realizing the urgent need to personalize their offerings.

Spiraledge now delivers personalized shopping experiences across its two e-Commerce sites, SwimOutlet.com and YogaOutlet.com, and their corresponding mobile sites, via the RichRelevance Relevance Cloud product suite.

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75% Of Shoppers Say Brick-And-Mortar Personalization Continues To Fall Short

As retailers strive to understand the consumer throughout the path to purchase, they are putting in more effort to personalize their offerings across channels.

However, numerous studies reveal that a personalization gap still exists. While 83% of retail marketers believe they do a satisfactory job of personalizing shopping experiences for the consumer, only 29% of consumers feel retailers effectively offer this content in the same way, according to Adobe.

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Artificial Intelligence Powers Product Recommendations For The North Face

Personalization has been a major talking point for retailers over the past few years, and many are experimenting with innovative ways to match the right products to the consumer. For example, The North Face is testing an artificial intelligence (AI) platform that bases product recommendations on natural language processing. The technology is powered by IBM Watson, which famously beat champion Jeopardy contestants a few years ago.

The North Face developed the personalized shopping experience using the Expert Personal Shopper (XPS) platform from digital commerce technology agency and software solutions provider Fluid. The retailer refers to the experience as “Your Personal Intelligent Shopper,” which is still in its beta testing stage.

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Digital Ad Placement Startup Mabaya Gets $2.25 Million In Funding

online-advertising-arrowIn physical-world retailing, brands pay retailers to put their products at eye level in high-traffic areas. Mabaya, a Tel Aviv-based startup that aims to place ads in the most optimal spots on e-Commerce sites, has secured $2.25 million in seed funding.

Mabaya analyzes online shoppers' preferences in real time in order to display items they will want to see. Its algorithmic in-site software applies contextual analysis to search terms and individual shoppers' behavior to display relevant sponsored products.

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Sailthru Sightlines Uses Personalization To Optimize Customer Lifecycle Value

Personalization platform provider Sailthru has released Sightlines, a predictive intelligence tool designed to accurately identify valuable customers, and later to anticipate specific actions. The solution was originally launched in October 2014 in a private beta format before fully launching in August 2015.

Sightlines enables retailers to build a single customer view, deliver cross-channel engagement and distill data into insight. The solution also is designed to collect and utilize customer data points to make marketing efforts as efficient as possible.

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Personally Perfect: How Individualized Value Explodes The World Of Retail Potential

1Dan Mcclure ThoughtWorksCustomer delight is often conveniently defined as a great purchase experience. There’s no debating that a great experience inside the retail store — finding exactly what you want, enjoying the ambiance, and receiving friendly service — is a genuine joy. Shopping inside the retail crate, whether it’s a brick-and-mortar store or online experience, can be a lot of fun. However, it is far from the only joy or challenge in life.

Retailers who see their customers as genuinely three-dimensional people and can act on this rich contextual insight — who customers are, what problems they are trying to solve in their lives, who they are solving these problems with and how they define value — have the opportunity to differentiate themselves in a compelling way. This is good news in a crowded marketplace, because as stores become ever more polished, a fine shopping experience will become an increasingly commoditized part of the business.

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Did Retailers Overcome Their Greatest Challenges In 2015?

Debbie head shotIs your organization now truly channel-agnostic? Does data security continue to keep you up at night? Are you having more personalized conversations with individual shoppers?

These are just a few of the challenges outlined by 13 top industry experts in the Retail TouchPoints 2015 Outlook Guide, published back in January. Before we put our blinders on and head into 2016, let's revisit those challenges and see how far we've come.

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