There are multiple layers to personalization that haven’t been explored by retailers across the globe. The retail world today is highly fragmented – an increasing number of retailers are entering the arena with products placed competitively. Shoppers, for their part, are readily switching to brands that have focused on personalization to give them unique experiences.
Did you know that customers are willing to pay up to 16% for personalized shopping experiences? Shopper experience is now what makes or breaks brand loyalty.
With all this, the need for personalization to enhance the shopper journey is at an all-time high, but most retailers are making do with segmentation. Segmentation is not true personalization. Gone is the era where ‘customers also bought’ was the best trick in the book. How does the retailer make each shopper feel unique? How do they set themselves apart while doing this?
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“If you want to engage with consumers in a valuable context, you need to facilitate a relevant #experiential strategy,” says Burak Capli, Founder of Radius Tech, a company which focuses on the smart usage of Big Data for improving customer experience in retail and fashion. Tune in to the next episode of #TheVuePodcast to listen to Burak talk about why the experience economy will define retail & more! #linkinbio
Enter Style Profiles for Personalization, by Vue.ai
By leveraging the kind of data that we are able to collect today, it’s possible to truly understand every shopper, and give them what they’re looking for. To achieve this, Vue.ai builds unique Style Profiles for every shopper. So what goes into these Style Profiles?
- Behavioral cues—what the shopper is clicking on, what products they’re adding to the cart, the pages they’re looking at and the pages they’re bouncing off of
- Transactional data—what the shopper has bought in the past, what they’ve returned
- Demographic data
By addressing these multiple layers of personalization, the on-site shopper journey is completely tailored to every shopper’s unique preferences.
In a nutshell, Vue.ai’s Personalization Suite can—
- Match the user & product: identify all the attributes that make a product relevant to a shopper
- Personalize even when there is little data: gauge intent in every click to show shoppers more and more relevant products
Chris Homer, Co-Founder and CTO, thredUP – the world’s largest online thrift store – said,
“At thredUP, creating personalized shopping experiences for our customers is a top priority. Vue.ai’s AI stylist allows us to personalize the end-to-end customer experience. AI algorithms take into account each individual’s visual style preferences, brand affinities, price sensitivity and more, creating a significant impact on multiple touchpoints in the thredUP customer’s journey.”
Personalization: Adding Value Every Step of the Way
Even as the shopper lands on the home page, Vue.ai can take them through a personalized journey with product recommendations ‘handpicked’ for them. What’s more, retailers can see up to 32% increase in conversions just by personalizing the home page.
Search and Sorting
When two shoppers search for the same thing, the Vue.ai Personalization Suite understands intent and shows them each results that are relevant to them, based on their respective Style Profiles. This ensures that they discover products from a brand’s inventory that are most relevant to them. Showing shoppers exactly what they’re looking for can make every search result convert.
Styling and Outfitting
The Vue.ai Personalization Suite gives every shopper the luxury of personal styling by adding a layer of styling expertise to all the products they’re interested in. In fact, retailers can use this at different points in the shopper journey to increase AOV, and improve shopper retention.
The shopper journey doesn’t stop with your site. Retailers can personalize promotional emails with products based on shoppers’ Style Profiles—this helps reduce shopper retention costs by a significant percentage. This is a great way to ensure shoppers find their way back to abandoned carts as well.
It’s 2020, and loyalty programs are no longer the holy grail of retention. Think about it; shoppers are willing to pay a premium for great experiences, and points just don’t make the cut. Instead, making a great impression every time—with a little help from automation platforms—is the way to go. Delighting shoppers with personalized experiences will make sure they come back for more.
Read about Vue.ai’s Personalization Suite here.
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