Understanding what customers want and being able to provide them with truly tailored recommendations is no longer a nice-to-have for online companies.
Ecommerce retailers are fighting harder than ever to deliver a shopping experience that will win customers and increase sales.
74% of today’s consumers feel text search has become an inefficient tool to find the right products online.
The rise of privacy legislation has serious implications on companies’ ability to use personalisation effectively. According to a recent ruling by the ECJ the use of an individual’s purchase profile, even if aggregated, to optimise the purchase journey of another individual requires informed consent.
But a solution exists to still offer personalisation and not fall foul of regulation....
Visual similarity isn't enough to get your customers to become purchasers. Affordability, intent, purpose, desires, all need to be met to get consumers to part with their money. Text search fails to solve so many consumers needs: they can't describe a piece of art, jewellery, furniture, even face, that they like. They can't use it to explain what it is in one item they like above another: tagging just doesn't work that way. Recommender systems looking at "what else others bought" are expensive, backwards-looking, impersonal and don't work for new items, leaving retailers to sell the most popular items and burdened with lots of stale inventory.