We were extremely honored to have been invited to the InvestHK Creative & Lifestyle Webinar’s Fireside Chat and had a stimulating discussion with InvestHK and Lucie Marceaux of Camden. As with any webinar, there was much left unsaid. Thus, we wanted to expand a little more on our answers to give more context and more meaning.
90% of the information our brain receives is visual. No where more is this true than on social media. The explosion in use and breadth of media content is driven by highly intuitive and mostly visual elements. In most cases, the content you view is driven somewhat or entirely by algorithms (see our Medium post on YouTube recommendations) and those algorithms are highly personalized to your personal viewing habits. If your consumers are being catered to in their everyday app interactions, they will expect your retail site to deliver similar experiences. Visual AI can help you meet consumer’s high expectations for personalized experiences.
We noted that 86% of marketing professionals surveyed by Ascend2 consider the effectiveness of an AI-powered hyper-personalization strategy to be a change for the better. Social apps like Pinterest use Visual AI and they have consistently high satisfaction rates.
Delvify amplifies desire for better by wrapping the AI into a powerful personalized recommendation too and we know recommendations work. 35% of Amazon purchases are a direct result of recommendations and 75% of Netflix viewing is driven by recommendations. So why does this work so well? By using advanced data analytics, brands can now understand what consumers want at scale. With companies like Delvify, brands get the better of Visual AI and the personalization of data driven recommendations in one package.
Since the rise of the pandemic, many companies have accelerated the speed of digitization, adapting to new ways of connecting with their customers. Aside from a lot less traveling, the online shopping space has seen tremendous growth. For example, eBay reported 25% YoY growth in Q2 of 2020 and this was at the start of the pandemic! We also know that 47% of consumers now say they are making more eCommerce purchases.
It is clear that this trend is not going away. Eventually, off-line retailers and brands will rise to the challenge and make more engaging in-person experiences but this will unlikely dent the advantages such as the convenience that drives demand for eCommerce. We can see a sustainable trend in the number of new users signing up for Shopify’s platform but online is as competitive as offline.
Brand owners have been working hard to drive consumers to their sites. One way has been through social commerce. Many teams like Lucie’s at Camden, drive customers to websites with effective brand strategies and we work hand in glove with teams like Camden. Delvify helps fill the gap from when the customers arrive, the engagement, to when they become your customer. We do this by stimulating their sense of curiosity. We detail much of this in our report that you can get through this link or emailing us at email@example.com.
Any social commerce strategy needs to consider not only the beginning of the journey but the end as well with consumers expecting to be catered to at every touchpoint. For the retailer, the purchase is never the end of the journey and this is where Delvify’s advanced data analytics come in. Beyond the simple GA metrics of who bought what and when, Delvify is able to deconstruct the journey as well as the purchased or viewed products down to individual data points in order to provide a unique solution.
It is apparent that the demand for a better customer experience is a high priority for consumers but apart from that, sustainability is a theme that is starting to emerge when consumers are searching for brands that they are looking to purchase from. The level of environmental awareness is increasing amongst consumers and so, brands must also be aware of their inventory management as well (as stated in our previous blog).
Do you want to find and boost the most sustainable products for your customers? Are you interested in finding the attributes of the products so your design and buying teams understand better the demands of your customers? Go beyond the world of “also bought with” to the universe of what will be and contact our team to unleash the power of Visual.