- Top fashion retailer leverages AI-driven real-time decisioning to personalize the omni channel shopping experience
SAN FRANCISCO and BENGALURU, India, Jan. 19, 2022 /CNW/ -- Algonomy, the only Algorithmic Decisioning Platform for Retail today announced that ABFRL (Aditya Birla Fashion and Retail Ltd.), one of Asia's largest fashion retailers, has entered into a strategic partnership with Algonomy to deploy its Hyper-Personalization solutions across its brands. ABFRL will leverage the personalization suite to craft truly seamless and 1:1 shopping experiences across all consumer channels - website, app, email and in-store, and across the commerce journey touchpoints for search, browse, product recommendations and content.
Pantaloons is the first ABFRL brand to deploy personalization and will be followed by other brands. ABFRL will use Algonomy's flagship products Recommend™, Engage™, Find™ and Discover™ to leverage not just real-time shopper behavior, but also store data to holistically personalize end to end omni channel experience for each shopper.
In addition to product recommendations based on regional top sellers, local festivals that help with cold start scenarios, Pantaloons is also leveraging advanced merchandising to deliver complete-the-look recommendations, and products to complement a customer's past purchases. The leading retailer has also launched a Style Finder that lets shoppers specify their categories and occasion and allows them to see either personalized products or try something new.
Algonomy Xen AI, the patented Composite AI decisioning engine, selects the most optimal experience for every interaction in real time, considering the shopper's profile, stage in the buying journey and Pantaloon's goals, around engagement, conversion or revenue. In addition to popularity, individual behavioral data is also used to influence a shopper's search and browse results, making online shopping cohesive and frictionless.
"Customers today expect the very best and completely seamless shopping experience from store to digital, and our partnership with Algonomy, will enable us in delivering on these expectations by personalizing across the digital channels, without any experience fragmentation," said Praveen Shrikhande, Chief Digital and Information Officer, ABFRL.
"For us, it's important to understand each customer, their intent and context in real time and personalize their experience at a 1:1 level. Manual merchandising and segmentation cannot handle the scale, and as a result eCommerce suffers from low conversions. AI driven, real-time tailoring of our webstore is here and now - and with Algonomy, we get an integrated suite that meets our future needs as well," said Varun Rajwade, AVP - Product & Digital CX, ABFRL.
"As a strategic partner in ABFRL's Digital transformation journey, we are excited about delivering integrated online experiences across recommendation, search, and content for ABFRL. It is an honor and responsibility to be able to positively influence the experience for ABFRL's millions of customers," said Amit Agarwal, SVP - Sales & Business Development, Algonomy.
Algonomy (previously Manthan-RichRelevance) empowers leading brands to become digital-first with the industry's only real-time Algorithmic Customer Engagement (ACE) platform with built-in customer activation and analytics for the retail industry. With industry-leading retail AI expertise connecting demand to supply with a real-time customer data platform as the foundation, Algonomy enables 1:1 omnichannel personalization, customer journey orchestration & analytics, merchandising analytics and supplier collaboration. To learn more, visit www.algonomy.com.
About Aditya Birla Fashion and Retail Limited
ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. It is one of India's largest pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.
As of 30th September 2021, The Company has a network of 3,264 stores across approximately 26,841 multi- brand outlets with 7,094+ point of sales in department stores across India.
It has a repertoire of market leading brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England established for over 25 years. Pantaloons is one of India's largest value fashion retail brand. The International Brands portfolio includes - The Collective, India's largest multi-brand retailer of international brands, Simon Carter and select mono-brands such as Forever 21, American Eagle, Ralph Lauren, Hackett London, Ted Baker and Fred Perry. Additionally, the company has also made a foray in branded ethnic wear through the acquisition of Jaypore brand and partnerships with India's leading designers Shantanu and Nikhil, Tarun Tahiliani and Sabyasachi.
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