Partial Match Search Results in Magento and Shopify eCommerce stores - Never say ‘No’ to your online visitors!

Shane

April 1, 2023

Min read

The Evolution of KYC

KYC is a fundamental regulatory requirement aimed at preventing money laundering, fraud, and identity theft. Historically, KYC involved manual verification processes that required customers to submit physical documents, leading to delays and potential errors. The advent of digital KYC has transformed this space, enabling faster, more accurate, and seamless verification processes.

Image courtesy of Vlada Karpovich via Pexels

Vision and Approach

Neokred is at the forefront of this digital transformation, offering cutting-edge solutions that simplify and streamline KYC procedures. Their approach is rooted in leveraging advanced technologies such as artificial intelligence (AI), machine learning (ML), and blockchain to create a secure, efficient, and user-friendly KYC process.

“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”

Key Features of Digital KYC Solution

AI-Driven Verification
Neokred uses sophisticated AI algorithms to verify customer identities in real-time. By analyzing patterns and detecting anomalies, AI ensures that only genuine documents are accepted, significantly reducing the risk of fraud.
Seamless User Experience
The platform is designed with the end-user in mind, offering an intuitive interface that guides customers through the verification process effortlessly. Users can upload documents, capture selfies, and complete verification steps from the comfort of their homes.
Blockchain Security
Blockchain technology enhances the security of KYC data by creating an immutable ledger that is resistant to tampering. This ensures that customer data is protected and can be audited with transparency.

Success Stories

Conclusion

Digital KYC solution represents a significant leap forward in the way businesses approach identity verification. By harnessing the power of AI, blockchain, and seamless integration, not only simplifies the KYC process but also enhances security and compliance. For businesses looking to stay ahead in a competitive market, embracing innovation could be the key to unlocking greater efficiency, cost savings, and customer satisfaction.

IN THIS ARTICLE

Example H2

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An online store should act no different from an offline store, within the purview of its capabilities.

Yes, when you step in at an offline store and ask for a ‘Black and white striped sleeveless dress’ and if it isn’t available, the salesperson will definitely suggest other closest matching dresses. This ability to suggest the closest alternatives is very important in eCommerce and is called a “Partial Match”.

As the user experience and customer expectations are increasing each day, online retailers cannot let go off the chances available for them. One such opportunity is to show products that closely match the search query if the search query does not exactly match products in the catalog.

What is a Partial Match?

Visitors with intent to purchase prefer to search onsite in eCommerce than browse on desktop or mobile. Visitors on mobile, have a higher inclination to search, as it reduces the time to discover products. Most search queries by these visitors are specific and might now always match the product catalog, Typically this would result in the dreaded “No results” page. On average, most retailers record 12% - 21% of “No results” across the total search volume. The percentage of “No results” also depends on the eCommerce vertical (Fashion, Home Decor, Jewellery, etc.,) served by the retailer.

(No results for “Red long sleeve dress”)

Partial Match Search Results in E-Commerce

Image source: redcandy.co.uk

In the above image, the product catalog does not contain ‘pink cuckoo wall clocks’. Hence the system suggests other closest matching results such as

Green cuckoo wall clocks
Blue cuckoo wall clocks
Orange cuckoo wall clocks
Turquoise cuckoo wall clocks

These closest matching results are called as the ‘Partial Match Results’. Enabling Partial Match results can reduce the no results by around 30%.

How does ‘Partial Match’ improve conversion?

‘Partial Match’ reduces the percentage of No Results searches and increases the average number of products viewed per visitor online. Retailers who show partial match results instead of no results have recorded a Site Search conversion increase of over 27%.

At Tagalys, we are all about helping you get to the point where your Magento and Shopify eCommerce store becomes the preferred destination for your buyers. To know more about our solutions and their features, get in touch with us now.