Personalization

Personalized stores for Magento and Shopify retailers to improve conversion

Shane

April 1, 2023

Min read

Every one of us has a unique interest and preference in the food we eat, the clothes we wear, the gadgets we use, the movies we watch, etc. People who shop online also have their own interests, and their browsing pattern reveals the same. Each visitor’s browsing behavior is unique and different from that of the rest. Serving each person according to their preferences and interests is called personalization.

eCommerce Site Personalization is the ability of the online store to display unique products to each visitor based on their interest. The store records the actions of each visitor and delivers tailor-made results to each visitor. In online stores, personalization can be provided through recommendations, site search, and personalized stores.

What is a personalized store in eCommerce?

A personalized store is a collection of curated products based on a visitor’s interest displayed as a listing page or recommendation widgets. They reduce product discovery time and hence improve visitor engagement.

How personalized stores work in Amazon?

Amazon is a global leader in eCommerce and its success story is definitely a lesson for the retail world. Amazon makes a personal appeal and brings the visitors repeatedly to its store. The personalized store provides readily available suggestions tailor-made to the visitor based on their past browsing pattern.

This personalized space has dynamic widgets such as ‘Related items you viewed’, ‘Inspired by your browsing history’ etc. As stated, they reduce the time to discover products and easily trigger the visitor’s interest to purchase them.

Tagalys’s My Store

‘My Store’ is a completely personalized space that displays product listing pages based on the interest of each visitor. Retailers report online visitors who enter “My Store” convert at a 4X higher rate than the overall site conversion.

‘My Store’ gives Magento and Shopify retailers an opportunity to create personalized space similar to the Amazon store, without a large engineering investment.

Tagalys maximizes conversion rate & gives merchants visual control of products displayed in Site Search, Category Pages & Product Recommendations in eCommerce. To know more about our solutions and features, get in touch with us now.

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 in eCommerce?

How personalized stores work in Amazon?

Tagalys’s My Store

‘My Store’ gives Magento and Shopify retailers an opportunity to create personalized space similar to the Amazon store, without a large engineering investment.