This morning, we announced several enhancements to our SLI Product Discovery SuiteTM – all designed to help retailers drive greater online success. Which retailers are looking to drive more online revenue this year? According to a survey of almost 300 e-commerce professionals – and as reported in Inside Retail— 91% are. Read more about ecommerce growth trends in SLI’s just-published E-commerce Performance Indicators & Confidence Report.
Therefore, if you are in the 91% – or if you’re not, but would like to be – today’s product update is relevant for you. We’ve focused on enhancing the analytics, metrics and merchandising tools retailers need to improve both conversion rates and average order value. New elements include:
- Improved Product Filtering that allows retailers to boost, suppress, or even hide various product attribute variables based on shopper behavior. These new facet control features allow merchandisers to set up automated filtering rules based on SLI’s industry-leading machine learning and/or to manually tune filters based upon their business objectives and unique shopper behavior patterns. This blended automated/manual approach provides merchandisers with the “best-of-both worlds” by leveraging automated machine learning while also providing very granular control of search and navigation pages.
- Upgraded Metrics and Analytics that includes new reports on top trending search phrases, desktop vs. mobile search trends, and the dreaded no-results phrases. The new metrics and analytics focus on insights and actionable information to help retailers increase revenue and average order value. The new reports also filter out spider/bot-generated searches. We also now provide global reporting and merchandising functionality for online retailers running multiple sites. New global reporting provides separate, as well as aggregate, reports on all key operating metrics. New merchandising functionality enables shopper behavior learned across individual stores to be applied to multiple sites.
- Merchandising Tools that include Product Impact Testing and Analytics allow retailers to place new or potentially high-impact products “above the fold” to promote visibility and accelerate learning of shopper reaction to them. Included in this update is support for SLI Enhanced Search PersonalizationTM (ESP) for our customers integrated using the SLI API. There are also new shopper segmentation tools that allow promotions and search results to be segmented based on geography, shopper attributes, and/or device.
On average SLI customers see 70% better shopper conversion and almost double the average order value compared with industry averages. With these new product enhancements, we expect that advantage to continue to grow. These new features are, however, just the tip of the iceberg of the new features we’ll be adding to the SLI Product Discovery Suite over the course of the next year.
For more information on these product enhancements, please visit our Merchandising and Analytics web pages. If you’d like to be notified of the upcoming announcements or learn more about how SLI Systems can improve online retail business results, please get in touch.