Nosto, a leader in ecommerce personalization and artificial intelligence (AI) tools for retail, launched its new¬†Enterprise¬†Personalization Suite for Fashion and Beauty Retail. The new offering delivers major enhancements to Nosto‚Äôs AI-powered functionality such as incorporating offline and mobile data into real time predictive product recommendations, automated look-book fashion merchandising so consumers can ‚Äúshop the look‚Äù, and quicker deployment on more enterprise platforms using Nosto‚Äôs patented onboarding technology. Retailers can also gain access to more powerful omni-channel micro-segmentation customer capabilities with a complete 360 customer view, full dynamic content personalization, and native app delivery of personalization utilizing new GraphQL technology. These tools are critical for today‚Äôs enterprise fashion retailers and also provide an elevated shopping experience for today‚Äôs on the go shopper.
Nosto will offer the new Enterprise Suite for Fashion and Beauty Retail across existing platforms such as Shopify Plus and Magento Enterprise, in addition to releasing a certified Salesforce Commerce Cloud (formerly Demandware) integration cartridge. The new offering targets large and fast growing ecommerce global retailers in the fashion and beauty industries that do more than $100M in online revenue and will enable Nosto to even better serve their existing 2,500 retail customers.
‚ÄúAs a global brand on Salesforce Commerce Cloud, we needed a complete 1:1 personalization solution that could handle the demands of our business,‚Äù says¬†Marcos Rios, Senior Ecommerce Manager at¬†Dermalogica. ‚ÄúPersonalization is key for Dermalogica and we have chosen Nosto because of how robust Nosto‚Äôs recommendations are on leveraging AI and multiple partner technologies such as user generated content and reviews. We‚Äôre truly excited about the potential impact to the growth of our digital commerce business.‚Äù
In advance of the release, Nosto conducted a global analysis of 1.19B site visits by fashion consumers over the three busiest shopping months of the year. While shoppers may be addicted to browsing on social media, visits to social media sites do not directly result in high sales conversions. The data underlined the importance of enterprise retailers focusing on their core properties physical, web and mobile ‚Äì to boost conversion. Specifically:
- Only 6% of fashion retailer traffic is driven by paid placements on social media.
- Mobile rules in enterprise fashion ¬†‚Äî 76% of large fashion retailer traffic is mobile vs 61% of small fashion retailer traffic ‚Äî a 13 percentage point gap.
- 64% of large fashion retailer orders are on mobile versus 53% for smaller fashion retailers.
- The largest fashion retailers generate 59% of total order value on mobile.
‚ÄúNosto is widely recognized in the ecommerce industry as a thought-leader in algorithmic machine learning for online retail, and in the last few years we‚Äôve developed predictive algorithms and revenue optimization tools that has delivered enterprise-grade personalization to millions of consumers for over 2,500 retailers,‚Äù says¬†Jim Lofgren, CEO of Nosto. ‚ÄúIn the last few years, large enterprise fashion and beauty retailers have requested that Nosto develop an enterprise edition and we‚Äôre proud to announce its release with unparalleled functionalities for fashion.‚Äù