Sears has built significant retail success by taking a customer-centric approach to doing business. The company is now taking this in-store experience online through personalized product recommendations powered by richrelevance.
Sears.com and Kmart.com are currently running richrelevance’s turnkey solution, which analyzes shopper behavior to customize each shopper’s online experience from homepage through checkout. Gathering this information enables the retail business to better design their services and offerings to appeal to their target audience.
"We are committed to providing our customers with the best possible shopping experience, no matter how they interact with us," said Jim Barr, President, Online for Sears Holdings, in a Wednesday statement. "With richrelevance, we're able to provide our online customers with recommendations that allow them to find what they're looking for faster and easier."
By analyzing more than 15 distinct types of consumer shopping behavior, richrelevance can predict which products are relevant to which shoppers. Those attributes analyzed include a shopper’s previous purchases, key search terms and specific brand-preferences.
Each time a shopper visits Sears.com or Kmart.com, the richrelevance application chooses the best recommendations at every point in the shopping flow from item selection to purchase completion.
This multi-algorithmic approach to product recommendations has consistently outperformed collaborative filtering -- the status quo for recommendation technology. This approach implemented into the retail websites will help to increase average sale per customer as well as drive new revenue streams.
"Imagine walking into a store and having the items you wanted to purchase already laid out for you - that's essentially what we do for Sears customers," said richrelevance CEO and Founder David Selinger, in Wednesday’s statement. "We create a unique shopping experience for each customer, helping shoppers find what they want, faster - which in turn boosts basket size, incremental sales and loyalty for the retailer."
Personalized recommendations introduces a fresh approach to presenting products, services and solutions for Sears’ customers throughout each stage of their lives, whether their shopping is done in the store or online.
Such an approach is being implemented in consumer-facing applications and solutions throughout the global economy as companies are striving to break through the clutter to stand out from the competition.
Sears.com and Kmart.com are both sure to grow the customer base as well as drive additional revenue through their websites as they will be much better designed to appeal to the unique needs of each individual shopper. By focusing on making the experience as quick and enjoyable for the customer as possible, both sites will reap the benefits in the bottom line.
Susan J. Campbell is a contributing editor for TMCnet and has also written for eastbiz.com. To read more of Susan’s articles, please visit her columnist page.
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