Industry West Increases Order Values by 15% With AI-Powered eCommerce Personalization from Nosto
Furniture World News Desk on
11/22/2019
Ecommerce-first home decor and furnishings retailer, Industry West, announced that it has seen a 15% increase in average order value (AOV) and an 8.1% increase in revenue since introducing AI-powered Onsite Content Personalization for both desktop and mobile visitors.
Industry West has implemented personalization technology from Nosto which uses advanced AI machine learning algorithms and other statistical techniques to predict and automatically deliver the most relevant shopping experiences to its online visitors in real-time. The retailer is using Nosto’s ecommerce personalization platform to display personalized product recommendations and to automatically customize onsite content to match the needs of individual visitors and visitor segments in real-time. As a result, 25% of online sales now come through Nosto’s personalized content.
Using Nosto, the retailer was able to customize all onsite content — including banners, hero images, special offers and product recommendations — to different audience segments. No matter where a shopper is in their journey, they are automatically shown personalized content in real-time, either to display what is most relevant to them or to help them pick up where they left off.
For example, repeat visitors who haven’t made a purchase are presented with personalized “continue browsing” recommendations based on their past browsing history. As they are likely to be in the “consideration” stage of the buying process, the content they see becomes more product-specific to guide them towards an informed purchase.
Similarly, onsite content automatically changes to encourage future purchases from returning customers with hero and top banners presenting discounts and “quick ship” options for relevant product recommendations.
“Furniture is a high consideration purchase where people return to a site repeatedly to look at images, find inspiration and make the best possible decision, which makes personalization very important,” said Jim Lofgren, CEO of Nosto. “Because this is a sector with a typically high cost of customer acquisition, the opportunities to cross-sell and up-sell by displaying personalized recommendations and content are significant.”
The ability to automatically change content to target different segments is part of Nosto’s Segmentation & Insights and Onsite Content Personalization offerings. Together, they allow ecommerce retailers to automatically personalize every element on a retail site: from the navigation bar, banners, videos and Call To Actions (CTAs), to logos for both desktop and mobile in real-time.
Ian Leslie, CMO at Industry West adds, “Partnering with Nosto has been critical to our online success; we see positive results everywhere we implement their solution. Nosto has been an incredible time-saver and has expanded our customization far beyond basic product recommendations. The platform itself is very user-friendly and provides helpful, granular insights on how the campaigns are performing. In addition, they have dedicated Customer Success Managers to ensure you are getting the most out of the solution. This is only the tip of the iceberg and we are excited to be a part of what comes next!”
About Industry West: Founded by Jordan and Anne England in 2010, Industry West provides a highly curated selection of home decor and furnishings from around the world for both residential and commercial use. Industry West partners with designers and manufacturers who are passionate about design and value to provide unique, high-quality pieces to shoppers. Initially an online-only company, Industry West has expanded their presence to the bricks-and-mortar market, opening retail spaces in Jacksonville and New York. The brand ships directly from their warehouses on both coasts of the United States, offering industry-best lead times.
About Nosto: Nosto enables retailers to deliver personalized digital shopping experiences at every touch point, across every device. An AI-Powered Personalization Platform designed for ease of use, Nosto empowers retailers to build, launch and optimize 1:1 omnichannel marketing campaigns and digital experiences without the need for dedicated IT resources or a lengthy implementation process. Leading commerce brands in over 100 countries use Nosto to grow their business and delight their customers. Nosto supports its clients from its offices in New York, Los Angeles, London, Paris, Berlin, Stockholm and Helsinki.