{"id":7224,"date":"2019-12-30T16:24:06","date_gmt":"2019-12-30T10:54:06","guid":{"rendered":"https:\/\/www.vue.ai\/blog\/?p=7224"},"modified":"2024-05-17T11:15:59","modified_gmt":"2024-05-17T05:45:59","slug":"personalization-ai-customer-loyalty","status":"publish","type":"post","link":"https:\/\/www.vue.ai\/blog\/ai-in-retail\/personalization-ai-customer-loyalty\/","title":{"rendered":"Here\u2019s the Secret to Increasing Revenue per Visitor by 180%"},"content":{"rendered":"Reading Time: <\/span> 3<\/span> minutes<\/span><\/span>

Personalization<\/strong>\u00a0powered by AI can work miracles for winning customers over. As retailers experiment with different ways of grabbing the user\u2019s attention –\u00a0personalization\u00a0powered by AI has become a lot more versatile. For instance, on a broader scale,\u00a0personalization\u00a0by catalog tagging<\/a> and visual merchandising can help improve product discovery that could make a retailer stand out to customers in a sea of competitors. On the other hand, a slightly offbeat\u00a0personalization\u00a0strategy could involve deploying chatbots with sentiment analysis to handle customer grievances during offline hours, again a great way to improve customer engagement.<\/p>\n

Personalization – both, in the traditional and offbeat sense – could be applied while setting up billing and payment options, shipping and returns, shopping cart abandonment<\/a>, holiday and marketing strategies as well.<\/p>\n

Case in point:<\/span>\u00a0Vue.ai\u2019s dynamic\u00a0personalization\u00a0has increased the revenue per visitor by 180% for retailers!<\/strong><\/a><\/p>\n

\"The
The iconic Gucci leather jacket with personalized motifs is a fine example of how the luxury house values personalization<\/figcaption><\/figure>\n

Chris Homer, Co-Founder and CTO, thredUP – the world\u2019s largest online thrift store – said,<\/p>\n

\u201cAI 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. With over 2M unique items in inventory at any given moment, we are constantly innovating on ways to help each customer locate the perfect needle-in-a-haystack item.\u201d<\/p><\/blockquote>\n

Quoting McKinsey\u2019s The State of Fashion 2020 report, \u201cIn a world of choice, customer loyalty drives economic advantage. In that context, technology can be a critical enabler of the knowledge, empathy and operational efficiency needed to create a winning edge with the customer\u2026 While this may require substantial investment \u2014 and likely re-platforming of the tech stack to accommodate larger volumes of data \u2014\u00a0brands that opt not to engage may find themselves left outside the room as relationships become increasingly personalized<\/b>.\u201d<\/p>\n

Katie Baron, Head of Retail at Stylus reiterated McKinsey\u2019s point about the close links between\u00a0personalization, technology, and loyalty at R-VUE London – \u201cA brand\u2019s ability to personalize the online journey\u2014even if it means using 3D sampling so a customer can do a trial online\u2014will be a game changer in the years to come because customer loyalty is closely linked to the website\u2019s potential to show them exactly what they are looking to purchase!\u201d<\/p>\n

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A post shared by Vue.ai (@vue.ai)<\/a> on Dec 11, 2019 at 1:11am PST<\/p>\n<\/div>\n<\/blockquote>\n

3 essential checks a retailer must make before signing a tech partnership for personalization:<\/h3>\n