The secret to presenting those products is to optimize the relevance of products shown. Whether it’s search results, category pages, landing pages, or recommendations, the products presented must always be relevant to the shoppers needs and desires based upon observed behavior and current purchase trends.
Presenting consistently relevant shopping experiences however is hard. It’s hard because no two shoppers are alike and shopper behavior changes quickly as fashion, technology, and other trends affect that behavior. So, it’s critical that product presentation evolve equally quickly in response to those changes. The machine learning engine that powers the SLI Product Discovery Suite does exactly that for SLI powered stores.
The best way to determine if your product discovery solution is presenting the most relevant products to individual shoppers is to simply monitor the business results it drives. SLI powered merchants know they’re optimizing relevance because on average they see a 70% uplift in conversion and up to a 3X improvement in average order value 1. SLI Systems provides retailers with the analytical tools, metrics, merchandising tools, and machine learning driven product presentation to provide optimized product presentation to each shopper. Read about the analytical tools and metrics here.
There is no “one size fits all” solution to online retail merchandising strategies. Small stores don’t have the resources or merchandising expertise to do more than establish some general rules and large retailers (with resources) need to ensure that product presentation reflects both their brand values and customer preferences. SLI’s merchandising solutions fully support both models and even enables blended merchandising strategies.
Retailers can leverage the industry’s most mature machine learning engine to derive insight into shopper behavior as it changes with the seasons and shopper behavior. They can then automate the process of using those insights with tools like SLI’s Smarter Facets or segmentation tools. Retailers desiring more granular control of promotions and product placement can use the insights derived from SLI’s analytical tools and metrics and apply them using tools such as Facet Merchandising Control to determine exactly which products should be presented to a shopper and how.
The latest functionality added to the SLI merchandising toolkit includes segmentation functionality that allows differentiated search and navigation results to be presented to shoppers based on geography, shopper attributes, or device. It also includes Product Impact Testing that allows merchandisers to place new or potentially high impact products “above the fold” to promote visibility and accelerate learning of shopper reaction to them.
Using an automated, manual, or blended approach SLI’s customers are able to achieve improved shopper conversion rates 70% better than industry average and an average order value more than double industry benchmarks.