Kibo has unveiled two new personalization capabilities within its Real-Time Individualization platform: Buy It Again and Real-Time Trending. The features are designed to provide retailers and manufacturers with the ability to produce relevant product suggestions for consumers at the time they are most likely to buy.
With Buy It Again, customers are seeing on average:
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125% improvement on “directed items” conversion (recommended items purchased);
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51% improvement on click-through rates on recommendations; and
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51% improvement on “directed order” conversion (orders including recommended items).
Buy It Again measures the purchase patterns of items in the catalog to predict when a user may buy that item again, leveraging machine learning to set the display frequency. The algorithm is most effective for repeat purchase products.
The Real-Time Trending feature is designed to process site activity in real time, and uncover trending products and content to display to the consumer across all devices and touch points. The feature uses geolocation data that enables merchandisers to create experiences based on localized trends, increasing relevancy and the likelihood of conversion.
