In the rapidly evolving digital commerce landscape, delivering personalized and relevant customer experiences is paramount. Coveo’s AI-Relevance™ platform stands at the forefront of this transformation, enabling businesses to enhance product discovery, improve conversion rates, and foster customer loyalty. Leading brands such as Caleres, FleetPride, and Freedom Furniture have leveraged Coveo’s advanced AI capabilities to revolutionize their online presence and achieve significant business outcomes.
The Importance of AI in Ecommerce
- Consumer Expectations: A recent survey revealed that 77% of shoppers research online before purchasing, even if they buy in-store. If search functionality falls short, 72% of shoppers will abandon the site, with 36% heading directly to a competitor.
- Generative AI Influence: 62% of consumers are more likely to make purchases with GenAI-driven guidance, highlighting the growing importance of AI in shaping consumer buying decisions.
Coveo’s AI-Relevance Platform: Features
- AI-Powered Search: Enhances product discovery by delivering personalized and relevant search results, reducing friction in the shopping journey.
- Generative Answering: Provides conversational AI capabilities that guide customers through their purchase decisions with contextual recommendations.
- Unified Indexing: Integrates data across various touchpoints, ensuring consistent and accurate information is available to customers at every stage of their journey.
- Personalization at Scale: Delivers tailored experiences to individual users, adapting in real-time to their preferences and behaviors.
Case Studies: Success Stories
Caleres
- Challenge: Managing a complex catalog of over 600,000 SKUs across multiple brands.
- Solution: Implemented Coveo’s AI-powered search and discovery platform to streamline product findability.
- Results: Achieved a 21% increase in revenue year-over-year and a 25% increase in conversion rates.
FleetPride
- Challenge: Providing accurate and timely product information to customers in the heavy-duty parts industry.
- Solution: Adopted Coveo’s AI-driven search and recommendations to enhance the online shopping experience.
- Results: Experienced a 7% increase in revenue per visit and a 9.6% increase in conversion rates.
Freedom Furniture
- Challenge: Delivering a seamless and personalized shopping experience across online and offline channels.
- Solution: Integrated Coveo’s AI-powered search and product discovery to provide consistent recommendations.
- Results: Achieved a 5.5% uplift in average order value and a 15% increase in customer sessions with search.
Coveo’s AI-Relevance platform empowers businesses to meet the evolving expectations of today’s digital consumers. By leveraging advanced AI capabilities, companies can deliver personalized, relevant, and seamless experiences that drive engagement and revenue growth. As demonstrated by the success of brands like Caleres, FleetPride, and Freedom Furniture, adopting AI-driven solutions is not just a technological advancement but a strategic imperative in the competitive ecommerce landscape.
