Early adopters of Recommendations AI have experienced a 90% increase in click-through rate and 40% uplift in conversions
[LONDON and NEW YORK — July 23, 2020] Qubit, a leader in AI-led merchandising and personalized experiences, today announced it has furthered its partnership with Google Cloud, making Recommendations AI available for eCommerce teams.
The product recommendations solution is deeply integrated within Qubit’s new product interface for merchandising, enabling eCommerce teams to leverage Google Cloud’s latest AI technology. Included in the offering is access to Recommendations AI which predicts the best product to show a consumer, adapts to changing customer behavior in real-time and utilizes a wide array of data points like assortment, pricing and user history. This capability is designed to be used by merchandising and marketing teams, giving them the ability to implement Recommendations AI and activate bespoke business rules that enable them to boost, bury and run campaigns without having to write a line of code.
According to Graham Cooke, CEO and founder of Qubit, the ability to quickly assess and predict the next product in the customer’s journey based upon every single click and customer data point, has never been more important. Amidst greater economic uncertainty as a result of the global COVID-19 pandemic, more consumers are shopping online and consumer behavior has changed dramatically. “Consumers are engaging with brands online more than ever,” said Cooke. “In those interactions, customer intent can change in a heartbeat and the ability of Recommendations AI to predict the next in the sequence is a game-changer for what is a core, but currently outdated, eCommerce capability.”
“AI-led merchandising is a must-have for any eCommerce brand to increase revenue, and to meet the customer’s needs. The combination of Qubit and Recommendations AI enables retailers to use real time data and deep learning neural networks alongside easy-to-use tools,” Cooke explained. “Our mission is to power relevance, and that is even more essential right now as more shoppers move online to buy the products they’d normally buy in-store. While the pandemic has been challenging for brands, those who have navigated it well are those which have been best placed to create authentic and relevant relationships with customers at every touchpoint and on every channel.”
Inspired by the same technology that powers relevance on YouTube, Recommendations AI uses the power of deep learning to introduce customers to new and relevant products. Using similar or shared patterns across customer attributes and behavioral data, the recommendations engine creates models to determine what the user would likely click next or purchase next and recommends these new or existing items from the catalog.
“Our product team has been working to bring next-generation product recommendations to the market and it’s exciting to finally see the solution in the hands of world-leading brands already,” said Carrie Tharp, VP Retail at Google Cloud. “We’re excited to partner with Qubit to put Recommendations AI in the hands of retailers as part of an end-to-end solution that can help retailers generate meaningful revenue uplift, and get ready for what will be the most important holiday season of our times.”
For more information on Recommendations AI and to sign up for a free assessment of your current personalization and recommendations solutions, please visit here.
Qubit’s mission is to drive customer loyalty and lifetime value through personalization. Industry leaders in luxury, fashion, beauty, travel and egaming brands partner with Qubit to transform the way they understand and influence their visitors. In 2018 the Qubit platform delivered over 60 billion experiences and influenced over $40 billion in retail revenue. Customers include Estee Lauder Group, Kurt Geiger, Shiseido, Tailored Brands, Radisson Hotel Group and Fanduel. Headquartered in London, the company has offices across Europe and the U.S. Qubit’s investors include Goldman Sachs, Sapphire Ventures, Accel Partners, Salesforce Ventures and Balderton Capital. For more information, please visit: www.qubit.com.