Mirakl Target2Sell Recognized in Forrester Landscape Report for Commerce Search and Product Discovery
Today, 91% of consumers are more likely to shop with brands that recognize, remember, and provide relevant offers and recommendations, according to Accenture. As the battle for online customers intensifies, it’s more important than ever for businesses to maintain these standards, particularly as their assortment and customer base grows.
Furthermore, for eCommerce businesses of all kinds, ensuring that products are discoverable by your buyers is critical to conversion – if they can’t see it, they won’t buy it. But equally important is to offer the tailored, curated experience they want by surfacing the right products to the right customers at the right time.
Finding a solution that can both optimize discovery and increase conversion, while providing actionable insights to improve your overall performance, is essential to success. In May 2023, Forrester Research published The Commerce Search And Product Discovery Landscape, Q2 2023, its Landscape report for Commerce Search and Product Discovery.
Of 28 vendors included in the research, Mirakl has the most vendor-reported use cases – 5 out of 7 – supported through Mirakl Target2Sell, including:
Combined search for content and commerce
Product recommendations beyond search
Optimization for shipping cost, inventory, etc.
Automated merchandising/taxonomy; and
Product configurator/quiz.
Best-in-class shopping experiences thanks to eCommerce personalization
In The Commerce Search And Product Discovery Landscape, Q2 2023, Forrester writes: “Commerce search and product discovery solutions provide some of the functions most critical to the shopper experience. Only 10% of US online adults disagree that they rely on the search function on a retailer or brand website to find the product or type of product they want to buy, per Forrester’s November 2022 Consumer Energy Index And Retail Pulse Survey.”
These commerce search and product discovery solutions, like Mirakl Target2Sell, make it possible to maintain a best-in-class online shopping experience for buyers, improving conversion and increasing sales through upsells, substitutions and cross-sell strategies. Forrester writes: “Commerce search and product discovery solutions enable targeted experiences that support merchant goals. Those goals could be to sell more volume by showing the products that are most likely to convert or to sell specific items based on parameters like inventory position or profitability.”
Ensuring that new products are discoverable is particularly critical for businesses with assortment expansion strategies, like marketplace and dropship. Scaling an enterprise marketplace requires brands to integrate and organize thousands or even millions of new products. Marketplace operators need to be able to manage that assortment in a way that delivers an exceptional customer experience and leads to increased revenue streams.
One of the keys to meeting that goal is to achieve successful marketplace discoverability. Up until now, existing personalization tools have not effectively incorporated a growing third-party assortment, leading to inconsistency between first and third-party marketing strategies and a lack of data and reporting capabilities. Mirakl Target2Sell’s technology is unique because it is well suited to provide value for both first-party and third-party products.
Not all personalization engines are created equal. Unlike the black box approach taken by many other AI solutions today, Mirakl Target2Sell is designed to allow merchandisers and category managers to influence the AI by implementing their custom business rules or algorithms. Connect with Mirakl today to learn more about Mirakl Target2Sell and how you can create the right personalization strategy, tailored to your own marketplace needs.
