Survey Also Found That Stylitics’ Merchandising and Styling Technology Increased Ecommerce Conversion Rates by 15%, AOV by 10%, and Delivered Significant Time and Cost Savings
Stylitics, the category leader in AI-powered automated digital merchandising and styling technology, released the results of a commissioned Total Economic Impact™ (TEI) report conducted by Forrester Consulting on behalf of Stylitics. The study, The Total Economic Impact of Stylitics, found that Stylitics’ AI-powered platform generated an ROI of over 6x over a three-year period. The study further revealed that Stylitics increased ecommerce conversion rates by 15%, average order value by 10%, and provided almost 100% time savings on outfitting and bundling efforts as well as on image processing times. The study results are for a composite organization based on interviewed customers.
The study noted that, “in the highly competitive retail space, retailers and brands face higher customer acquisition costs and increased margin pressure. Organizations must deliver inspiring experiences to shoppers while also managing costs and improving efficiency. Technology partners like Stylitics drive results across a growing list of verticals including apparel, footwear, accessories, home goods, and more with automated solutions across the purchase journey that improve sales, increase profits, and save employees’ time.”
“We are extremely gratified that a third-party as esteemed as Forrester has uncovered the significant impact Stylitics creates for our retail clients”
Kristin Matter, Vice President, Digital for JD Sports, said, “Stylitics has helped bring our lookbooks to life. It’s made it possible for us to bring more inspirational content to our customers and to then make that content really shoppable. People are going to buy their favorite sneaker, but we saw them adding up. We saw increases in units per transaction (UPT), conversion, and AOV when Stylitics was present. For us, it’s really driving those incremental wins and additional value.”
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Manually creating outfit suggestions is a top challenge for ecommerce teams. At most, merchandisers can manually style less than 10% of their total catalog. Labor, capital, and technology limitations top the list of challenges that Stylitics solves while also tackling issues such as scalability and the ability to demonstrate product value and versatility.
“We are extremely gratified that a third-party as esteemed as Forrester has uncovered the significant impact Stylitics creates for our retail clients,” said Juliana Prather, Chief Marketing Officer, Stylitics. “As retail organizations get stretched thinner with greater content requirements and pressure to create better customer product experiences at scale, Stylitics’ automated AI-driven solution not only drives considerable increases in ROI, conversion, and AOV, but was also found to save significant time and money for each of our clients.”
The TEI study also revealed “unquantified” benefits to using Stylitics, such as creating inspirational commerce and delivering a seamless experience. Rather than just sending shoppers to a grid of endless products and hoping that the customer finds what they are searching for, Stylitics allows customers to engage directly with the product quickly and easily. Additional benefits cited include strengthening and supporting the organization’s brand in new ways; further aligning e-commerce with organizational strategies and goals; and providing critical data and insights on customer preferences and interactions.