Personalization

Amazon 'My Mix': Personalized e-commerce shop increases product views and conversion

tagalys

April 1, 2023

Min read

Amazon, started a version of a personalized store called My Mix, in June 2017 to help visitors save time and find products quickly. The one common trend across every online store globally is that over 60% of their visitors engage with the store via a mobile device. This changes the expectation of behavior as visitors on mobile devices have more urgency than visitors on desktop. They are typically on the go and get to see only 2 to 4 products per screen. So should you design a separate site for mobile visitors? No. Applying a personalization engine will address this challenge and a personalized store ensures visitors are more likely to stay longer at your store.

What is a personalized store?

Personalized eCommerce merchandising from Tagalys, collect every signal left by visitors across your site to learn more about their interest and predict what products they might be interested in. This API collects data from online retailers via a Tagalys analytics file. This requires no additional work from clients to send the data and applies real-time 1:1 personalization to create a personalized store in real-time.

Visitor benefits of a personalized store

While the benefits are applicable across devices, we feel the personalized store is more suited for mobile users. Because it allows them to engage with an online store in a frictionless manner. For example, if you have shown interest in midi skirts and maxi dresses, instead of having to navigate back to the categories and restart your browsing experience, the personalized store would already have that available for you. This saves you clicks, time, and efforts to start your experience. It is like the store reorganizing its aisles for each visitor vs. having each visitor walk across the static store each time to restart their shopping journey.

Retailer benefits of a personalized store

Since the retailer now has the ability to dynamically reprioritize what products & categories to show each visitor based on their unique interest we have seen the following KPIs improve at the store.

Engagement or reduction in bounce rate
Product views per visitor
Product views per session
Add to carts per visitor
Conversion rates that are 3X better than other product discovery channels

How do you signup for Personalized Stores from Tagalys?

Signup as a new client at Tagalys and install any of our extensions to your platform. Contact the Tech Support team from Tagalys and request them to enable Personalization for your store, as this API is not enabled by default. Our team will study your product catalog & configuration and work with you the determine the best-personalized setup for your store. This process should not take more than 24-48 hours to be completed. Tagalys reports will also showcase the live data on the impact personalization brings to your store. This can help you determine if personalization from Tagalys is right for your business.

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.

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What is a personalized store?

Visitor benefits of a personalized store

Retailer benefits of a personalized store

Since the retailer now has the ability to dynamically reprioritize what products & categories to show each visitor based on their unique interest we have seen the following KPIs improve at the store.