AI Powered Ecommerce Gives Retailers a Profit Boost
AI powered ecommerce can increase profits because it gives customers the best experience. The digital shopping journey is mapped out in real-time, predicting what and when the shopper needs to see.
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JCPenney Uses Metrical’s AI, Gets 40% More New Carts
Although JCPenney says no to most vendors it had to say yes to Metrical’s predictive AI. It drives online revenue, increases conversion rates, and reduces site and cart abandonment.
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What is Metrical, Really? (Part 2)
Our intelligent messaging platform can easily augment existing platforms (e.g. Shopify, Salesforce, Magento, or a bespoke system) to provide an engaging and seamless digital experience for arriving shoppers.
JCPenney and Metrical Collaborate on Predictive AI to Accelerate Retail Transformation
JCPenney has partnered with Metrical to help drive their e-commerce transformation and improve the customer experience. After deploying Metrical’s predictive AI, JCPenney has seen extremely positive results including a 40% increase in new cart creation, an 18% reduction in cart abandonment, and a 10% improvement in revenue on targeted visits.
What is Metrical, Really?
At the core of Metrical is a flexible, data-driven and predictive analytics engine. When properly trained on any dimension of an eCommerce digital funnel, the result is a marked increase in cart creation and conversion. It can make all the difference between staying with the pack…and winning!
Metrical’s New Shopify App Provides Instant Customer Feedback – Reduces Cart Abandonment
The Metrical Abandonment Survey – Shopify’s first exit-based survey – provides on-line merchants with real-time information to help them understand why shoppers are abandoning.
Webinar with JCPenney, Object Edge and Steve Dennis
We discuss how e-tailers are navigating the COVID pandemic.
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How Macys.com Increased Top Line Revenue
During my tenure as President of macys.com, one of my abiding principles was to focus on growing the topline revenue and not be as consumed with the costs to grow. Over time I learned that with the appropriate checks and balances in place on the operational side of the business, combined with a clear target of what success looked like, the increased revenue would more often than not meet or exceed the profit hurdle.
Amazon Rex
Amazon won the war for the next big generation of buyers, the Millennials. That infamous group that ruins everything is going to smother out the last breath of the American Mall experience because their growing purchasing power is being spent online. And I’m okay with that. Malls are crowded and full of people who walk with a complete disregard for those around them.
Amazon’s War for Online Shoppers
Some companies have a way of injecting themselves so fluidly into our lives that we no longer think of them as a company, but as a commonplace tool. When someone asks you a question that you don’t know the answer, your response is probably, “Did you Google it?” If your answer is, “Did you Bing it?” then you should check out this thing called Google, though “Did you Bing it?” does have a better ring to it.
The Rise of Amazon
Between the return of high waisted jeans and Power Rangers to millennials debating if Ross and Rachel were on a break, there’s a lot of 90’s nostalgia going around. You remember the 90’s, right? You know, back when Amazon was just casually selling books online and you could still stroll into one of Border’s thousand plus locations if you didn’t want to wait on Amazon’s slow shipping time.
A Simple and Easy Way to Calculate Cart Abandonment
In today’s world, data rules all. Though you can sometimes have too much of it, the better you can leverage it, the better you can position yourself to succeed. In the world of e-commerce, there are some key data points that every retailer must know at all times.
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A Look at Cart Abandonment Solutions
You’ve just built that beautiful new e-commerce site with dazzling photos of all your products, descriptions that would make a poet weep, and a checkout process so seamless that Jeff Bezos is calling you for advice. But then you take a look at your analytics and notice that 78% of your shoppers have abandoned their carts, leaving your great products to languish in a dark, musty warehouse.
Takeaways from ShopTalk 2018
Last week our Metrical Team attended ShopTalk 2018 in Las Vegas and were blown away by the number of companies and people participating. Apparently the conference had almost doubled in size to more than 8,500 retailers, brands, vendors and media representatives in attendance from last year.
Stop Giving Away Money
While current Exit Intent technology can provide a useful tool for engaging potential customers, the current shotgun approach of providing offers to all your shoppers lacks targeted intelligence and is causing you to give a lot of revenue away.
Changing the Discount Mindset
When we entered the recession in 2008, retailers began to overly rely on large discounts to bring wary consumers into their stores. But as consumer confidence continues to rise, brands and retailers find themselves stuck trying to find a way out of the promotional holes they’ve dug, placating a clientele who continuously expects steep discounts. These constant promotions are hurting retailers overall profitability.
How Cart Abandonment Affects Revenue
In this post we’re going to cover the impact cart abandonment has to your top-line revenue. We’ll look at the variables you need to figure out your cart abandonment rate, how to calculate it, and how a reduction in your cart abandonment rate can increase your revenue — often substantially.
