Lucidworks & IMRG Webinar – Best-In-Class Retail Product Discovery

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Learn how to guide customers to relevant products using eCommerce search, hyper-personalisation, and recommendations in our ‘Best-In-Class Retail Product Discovery’ webinar. Nowadays, shoppers want their online experience to be engaging, inspirational and fulfilling. They want to find what they’re looking for quickly and easily. If the sought after item isn’t available, they want the next best product or content surfaced to them. They want a website to understand their goals as though they were talking to a sales assistant in person, in-store. In this webinar, we explore IMRG industry data insights and a best-in-class example of retail product discovery. You’ll learn: - How AI can drive increased revenue through hyper-personalised experiences - How user intent can be easily understood and results displayed immediately - How merchandisers can be empowered to curate results and product placement – all without having to rely on IT. Presented by: Dave Hawkins, Principal Sales Engineer - Lucidworks Matthew Walsh, Director of Data & Retail - IMRG

Einzelhandel

1
Best-In-Class Retail
Product Discovery

2
Speakers
Dave Hawkins
Principle Sales Engineer
Matthew Walsh
Director of Data & Retail

3
Agenda
• Product Discovery Insights – IMRG
• Best-in-Class Product Discovery example
• Q&A

Imrg.org imrg imrgupdate
Site Search Insights

Site Navigation Map
Average Conversion Rate: 3.1%
Site Visitors
Avg Search rate: 14%

Site Navigation Map
Average Conversion Rate:
Site Visitors
Avg CVR of
Search users
7.4%
Avg Search rate: 14%
3.1%

Site Navigation Map
Average Conversion Rate: 3.1%
Site Visitors
Avg CVR of
Search users
7.4%
Avg Search rate: 14%
Zero Result
CVR
5.7%

How to get a higher search rate…
Average Site
Search Rate %
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Count
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Search Rate Vs SKU Count
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How to get a higher search rate…
Average Site
Search Rate %
363531 30302218181717161514121210 9
Approx. SKU
Count
1010
31 9 9 8 8 8 7 7 7 6 5 4 4 1
76 46 12 56 6242 11 33 38 22 3 26 29 16 26 5 9
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Home Page
Start & Search

Imrg.org imrg imrgupdate
Thank You!
Matthew.walsh@imrg.org

17
Best-in-Class
Retail Product
Discovery Example

18
Q&A
Contact us: contact-sales@lucidworks.com

19
THANK YOU
Contact us: contact-sales@lucidworks.com

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Lucidworks & IMRG Webinar – Best-In-Class Retail Product Discovery

1. 1 Best-In-Class Retail Product Discovery

2. 2 Speakers Dave Hawkins Principle Sales Engineer Matthew Walsh Director of Data & Retail

3. 3 Agenda • Product Discovery Insights – IMRG • Best-in-Class Product Discovery example • Q&A

4. Imrg.org imrg imrgupdate Site Search Insights

5. Site Navigation Map Average Conversion Rate: 3.1% Site Visitors Avg Search rate: 14%

6. Site Navigation Map Average Conversion Rate: Site Visitors Avg CVR of Search users 7.4% Avg Search rate: 14% 3.1%

7. Site Navigation Map Average Conversion Rate: 3.1% Site Visitors Avg CVR of Search users 7.4% Avg Search rate: 14% Zero Result CVR 5.7%

8. How to get a higher search rate… Average Site Search Rate % 363531 30302218181717161514121210 9 Approx. SKU Count 1010 31 9 9 8 8 8 7 7 7 6 5 4 4 1

9. Search Rate Vs SKU Count 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 20000 40000 60000 80000 100000 120000 140000 160000 180000 200000 Search Rate SKU Count

10. How to get a higher search rate… Average Site Search Rate % 363531 30302218181717161514121210 9 Approx. SKU Count 1010 31 9 9 8 8 8 7 7 7 6 5 4 4 1 76 46 12 56 6242 11 33 38 22 3 26 29 16 26 5 9 19 7 53 5 16 33 4 10 11 3 3 9 3 2 7 13 Home Page Start & Search

11. How to get a higher search rate… Average Site Search Rate % 363531 30302218181717161514121210 9 Approx. SKU Count 1010 31 9 9 8 8 8 7 7 7 6 5 4 4 1 76 46 12 56 6242 11 33 38 22 3 26 29 16 26 5 9 19 7 53 5 16 33 4 10 11 3 3 9 3 2 7 13 Home Page Start & Search Open Search Bar

12. Site Navigation

13. How to get a higher search rate… Average Site Search Rate % 363531 30302218181717161514121210 9 Approx. SKU Count 1010 31 9 9 8 8 8 7 7 7 6 5 4 4 1 76 46 12 56 6242 11 33 38 22 3 26 29 16 26 5 9 19 7 53 5 16 33 4 10 11 3 3 9 3 2 7 13 Home Page Start & Search Open Search Bar M D Search Bar Scroll

14. Site Navigation

15. How to get a higher search rate… Average Site Search Rate % 363531 30302218181717161514121210 9 Approx. SKU Count 1010 31 9 9 8 8 8 7 7 7 6 5 4 4 1 76 46 12 56 6242 11 33 38 22 3 26 29 16 26 5 9 19 7 53 5 16 33 4 10 11 3 3 9 3 2 7 13 Home Page Start & Search Open Search Bar M D Search Bar Scroll M D

16. Imrg.org imrg imrgupdate Thank You! Matthew.walsh@imrg.org

17. 17 Best-in-Class Retail Product Discovery Example

18. 18 Q&A Contact us: contact-sales@lucidworks.com

19. 19 THANK YOU Contact us: contact-sales@lucidworks.com

Lucidworks & IMRG Webinar – Best-In-Class Retail Product Discovery

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