CHICAGO and LUND, Sweden, October 13, 2021
In the retail race for relevancy, today’s leading fashion brands are outfitting their digital commerce sites with the most advanced technology to support ultra-personalized shopping experiences with relevant offers and recommendations that convert shoppers into buyers for improved profits and revenues.
Avensia and Voyado are extending their 15-year partnership to empower retailers to take modern best-in-class search, personalization, and recommendation services to the next level. Together, they provide the technology and experience to offer end customers an exceptional digital experience through a deep understanding of user intent mapped to conceptual product interpretation.
According to Accenture, 91% of consumers are more likely to shop with brands that recognize, remember, and provide relevant offers and recommendations. In fact, 70% of millennials are willing to let retailers track their browsing and shopping behaviors in exchange for a better shopping experience.
Many online search systems today seek to interpret user intent based on phrasing and context to discern transactional, navigational, or informational intent. However, without conceptual data, e-commerce sites can fail to return the products desired as well as relevant recommendations and content.
Voyado's latest technology, designed for the fashion industry, brings conceptual understanding to product search for the fashion sector, on top of powerful AI, Machine Learning and patented behavioral-driven algorithms. This empowers retailers to detect and react to consumer trends in real time, to list and recommend the most relevant products with every search, in every given moment of the customer journey.
Avensia brings a wealth of experience and expertise in implementing the Voyado relevancy technology within high performing e-commerce platforms for a range of customers in the fashion industry, ensuring the right fit for their business.
Fashion retailers interpret shopper intent based on search words, clicks, and navigation patterns to surface the best possible content, said Johan Liljeros, General Manager, North America, for Avensia.
Unfortunately, this only describes the specific product being searched rather than the full conceptual understanding of the customer’s needs. The ability to go beyond the current means of mapping customer intent is a true differentiator in today’s modern commerce landscape, and vital to support rich and rewarding digital experiences.
Voyado empowers online retailers to always be recommending what is most relevant to customers,” said Michael Mokhberi, former CEO of Apputs (now Voyado Elevate).
Patented AI technology combines with sophisticated conceptual intent data for better, more relevant customer experiences. The technology also learns from visitors’ behavior in real time, anticipating their intent, and adapts results to rank the most relevant products higher, optimizing sites to maximize sales.
One fashion retailer that has worked with Avensia and Voyado to leverage today’s most advanced modern commerce technology to develop a highly personalized e-commerce site is shirt maker Stenströms, which has been in business since the turn of the century.
After only three months, we experienced a 113 percent increase in conversions, a 215 percent increase in transactions, and a 115 percent increase in revenues, said Rasmus Bengtsson, Stenströms’ Online Sales Manager.
At Avensia, we are experts in modern commerce. We offer solutions for e-commerce, information management, omnichannel and customer experience, as well as retail trends and digital strategy services. By combining technical and strategical expertise we help B2C and B2B customers to accelerate growth and become even more successful in their day-to-day business. Avensia has 300 employees spread across offices in Sweden (HQ), United Kingdom, United States, Philippines, and Norway. Learn more at www.avensia.com.
Voyado brings more than 20 years of delivering cutting edge e-commerce solutions, simply to help merchants around the world to better guide, advise, and inspire shoppers along the customer journey. At Voyado, we strongly believe in the power of automation and AI to reach increased operational efficiency for merchandising teams, as well as delivering more relevant online shopping experiences to customers. Our flagship product – Elevate, is a unified solution for Product Discovery providing state of the art Search, Navigation, Recommendations.
Voyado is headquartered in Lund, Sweden with sales offices in London and Munich and a rapidly growing client base across the globe. At Voyado, we find passion by being curious and solving real-life customer challenges through constant innovation, enabling some of the world’s leading merchants to dramatically improve sales performance, reduce cost, and achieve increased organizational efficiency.