Every shopper starts with a motivation.
Whether searching for a sweater or a sofa, bridging the gap between an endless scroll of 800 choices and an eCommerce session full of curated discovery is what we call Inspirational Commerce™️. Today’s consumers crave an experience that makes them feel as though a brand “gets” them, able to offer personalized recommendations, making the decision to purchase easy and enjoyable.
In a recently commissioned Total Economic Impact ™ (TEI) study from Forrester Consulting on Stylitics, they found that “in the highly competitive retail space, retailers and brands face higher customer acquisition costs and increased margin pressure. Organizations must deliver inspiring experiences to shoppers while also managing costs and improving efficiency.”
Retailers that are able to use the latest technological innovation are the ones best equipped to handle these modern challenges. It’s at the core of Forrester’s study as well as the heart of Stylitics’ suites of solutions.
Forrester created a composite organization, a global retailer with at least $500M in revenue, 20,000 SKU’s and who manually outfitted only 5% of their catalog prior to using Stylitics.
Here are some of their key findings:
• Before the implementation of Stylitics technology, companies were able to style 5-10% of their catalog, due to limited resources and inability to build out in-house automated tools. Adding Stylitics enabled these retailers to style 100% of their offerings without any additional staff, resources or labor hours.
• Stylitics solutions increased conversion rates and AOV, drove profit growth, and most notably, added an over 6x net ROI in a three-year period.
• Stylitics is seen as a technology partner. Retailers see the opportunity to guide future development of these best in class solutions that continue to offer customers a personalized shopping experience.
• Stylitics shows product versatility at scale, which drives brand loyalty and purchases across a retailer’s entire portfolio. With limited outfitting capabilities across their digital portfolios previously, merchandisers simply utilized what they’d already spent marketing dollars on, namely model and product photography. This process is now automated using a retailer’s specific rules and models.
• Stylitics’ technology is effective beyond the fashion and apparel space. Retailers can leverage Stylitics to bundle and style items across categories through similar themes, trends and goals. It easily transfers to home goods, and can style rooms and homeware on PDPs from furniture to kitchen accessories.
Forward-thinking, tech savvy retailers like JD Sports know that harnessing the right solutions not only creates higher-value customers, but by moving from transactional commerce to inspiring shoppers instead, they turn browsers into buyers and buyers into evangelists.
Said the company’s VP of Digital Operations North America, Kristin Matter, “People are going to buy their favorite sneaker, but we saw them adding up. We saw increases in UPT [units per transaction], conversion, and AOV when Stylitics was present. For us, it’s really driving those incremental wins and additional value.”
If your merchandising and eComm teams are looking for technology to create a more personalized and customer-centric shopping experience, learn more by downloading the Forrester Consulting TEI study of Stylitics and examine the potential ROI your brand might realize after launching our suite of retail tech solutions.
Stylitics is a visual merchandising platform that is shaping the future of online shopping and retail. Learn More