Coveo Introduces Comprehensive Product Suite to Help Modernize and Automate Retail Merchandising
12 January 2023 - 12:00AM
Coveo (TSX:CVO), a leader in AI-powered relevance platforms
that transform search, recommendations, personalization, and
merchandising within digital experiences, today announced the
release of the new Coveo Merchandising Hub. Designed to empower
merchandisers to create personalized experiences that convert, the
Hub provides a comprehensive feature set that enables brands to
deliver a highly relevant shopping journey that helps to build
loyalty and increase profitability. Coveo will showcase the
Merchandising Hub at the NRF 2023 Retail’s Big Show, held January
15-17, 2023, in New York City.
The Merchandising Hub features a highly intuitive interface that
enables merchandising teams to drive value by quickly
operationalizing campaigns, gaining insight on revenue
opportunities, customizing product discovery, creating
recommendation strategies for different audiences and geographies
at scale, and other revenue driving tactics without relying on IT.
Innovative AI allows teams to experiment, learn, and optimize
online store performance.
The technology powering the Coveo Merchandising Hub is the
culmination of Coveo’s October 2021 acquisition of Qubit, a
London-based company that provided AI-powered personalization
technology for fashion brands and retailers. The integration of
Qubit’s technology into the Coveo Relevance Cloud™ platform enables
Coveo to offer a more comprehensive commerce product discovery
suite.
“The acquisition of Qubit was critical to our ability to expand
the functionality of the Coveo Relevance Cloud™ and to offer the
first comprehensive suite of tools designed solely for
merchandisers,” said Laurent Simoneau, Co-Founder, President, and
CTO at Coveo. “The Coveo Merchandising Hub will help brands to
overcome current challenges by modernizing the merchandising
function. By using its valuable insights, it guides strategic
decision-making - helping to create more value and increase
profitability by optimizing and refining the customer shopping
experience.”
The Coveo Merchandising Hub includes an array of easy to use
features and provides detailed insights on how shoppers interact
with retailers’ product catalogs, enabling merchandisers to quickly
adapt and deploy the winning strategies to optimize campaigns and
revenue per visit, boost specific products for revenue, and
showcase higher-margin products.
AI and merchandising
innovations
include:
- 1:1 Personalized Search Results: Delivers
highly relevant and personalized product rankings in real-time
based on shopper intent, without the need for high volumes of data,
pre-defined persona segments, or logged-in user
profiles.
- Intelligent Facet Generator: Helps retailers
with large and complex product catalogs that may span thousands of
product attributes. With the Facet Generator, customers see the
most relevant filtering options for each search query, reducing
friction and improving conversion.
- Product Listings Manager: Allows merchandisers
to easily manage product rankings on listing pages with an
intuitive visual editor. Merchandisers benefit from the power of AI
while being able to tailor results for specific objectives such as
boosting special promo brands.
- Personalized Content: Enables merchandisers to
rapidly deploy campaigns and promotional content at any point in
the customer journey with a simple drag-and-drop capability.
- Advanced Decisioning Recommendations: Provides
merchandisers with accessible insights and controls for
recommendations and audience prioritization so that they can
explicitly layer business logic on top of AI. These strategies
scale for multiple regions, catalogs, and audiences.
- Product Badging: Simplifies product badging
for merchandisers and makes it very simple to create complex
decisioning logic. Real-time data allows it to effectively scale
for any type of strategy from social proofing to scarcity and
urgency badging.
“We believe the Merchandising Hub is a game changer for
merchandisers,” said Brian McGlynn, General Manager of Commerce
Solutions at Coveo. “Their world today in many cases is defined by
thousands of manual rules. Now with 1:1 personalization and
automatic facet generation, they can let AI do the heavy lifting
and use their skills to experiment and make a much more powerful
impact.”
Coveo customer Kurt Geiger, a leading London-based footwear and
accessories retailer powered by creativity and kindness, and a
recent silver winner in the Fashion/Apparel or Footwear category at
the UK Ecommerce Awards, relies on Coveo’s AI-led 1:1
personalization to deliver customer experiences that make every
shopper journey feel authentic.
“Working with Qubit and now Coveo has been tremendously
rewarding,” said Gareth Rees-John, Chief Digital Officer at Kurt
Geiger. “With social proof experiences alone, we achieved 11 times
our return on investment. Their continual innovation has enabled us
to provide better and increasingly more relevant shopping journeys
to our global customer base. We look forward to exploring the new
capabilities of the Coveo Merchandising Hub.”
Visit Coveo at NRF 2023 in booth
#209 to hear more about the
Merchandising Hub and see a demo. For more information: Coveo @
NRF.
About Coveo SolutionsWe believe that relevance
is critical for businesses to win in the new digital experience
economy and to serve people the way they expect while ensuring
optimal business performance, and that applied AI is an imperative
to achieve these goals.
Coveo is a market-leading AI-powered relevance platform that
injects search, recommendations, personalization, and merchandising
intelligence into digital experiences such as commerce, service,
website, and workplace applications. Coveo’s platform is
cloud-native SaaS, multi-tenant, API-first, and headless, and can
easily integrate into almost any digital experience. Our solutions
are designed to provide tangible financial value to our customers
by helping to drive improvements in conversion, revenue, and
margins, reduce customer support costs, increase customer
satisfaction and website engagement, and improve employee
proficiency and satisfaction.
Our AI platform powers digital experience relevance for many of
the world’s most innovative brands, serving millions of people and
billions of interactions, and is supported by a large network of
global systems integrators and implementation partners. Coveo is a
Salesforce ISV Partner, a Global SAP CX Partner, and an Adobe
Accelerate Exchange Partner.
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Media ContactHighwire PRCoveomedia@coveo.com+1
418-263-1111
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