Watchmaker Fossil Group’s Canadian subsidiary has boosted its online sales volume, including a 14% increase in revenue per site visit, by leveraging an AI-powered solution that analyzes and predicts customer behaviors. The Metrical solution uses customer insights to offer targeted incentives designed to help convert visitors into customers.
Fossil used the Metrical tool to offer free shipping to customers who were most likely to abandon their cart, a targeted promotion that increased the number of carts created by 7.5% and reduced cart abandonment by 26%. Making these free shipping offers didn’t require Fossil to sacrifice margin, because the retailer already had offered free shipping to customers who spent a certain amount.
“Protecting margin is really important to Fossil, and Metrical has been a terrific partner in finding ways to use AI to accelerate ecommerce revenue while ensuring we’re not chipping away at profitability,” said Matthew Austin, VP, Global Ecommerce at Fossil in a statement.
“Our collaboration proves the power of harnessing sophisticated customer behavior data to ensure sustainable growth in a competitive retail environment,” said Rameet Kohli, Co-founder, President and COO at Metrical in a statement.
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