Fossil Group - the retailer known for fashionable and affordable watches, has partnered with Metrical, a leading innovator in AI e-commerce solutions, to drive a significant increase in overall sales plus a 14% increase in revenue per site visit at Fossil's Canadian subsidiary.
EL CERRITO, Calif., Sept. 3, 2024 /PRNewswire-PRWeb/ -- Fossil Group, Inc. ("Fossil"), the retailer known for their fashionable and affordable watches, has partnered with Metrical, a leading innovator in AI e-commerce solutions. Using Metrical's array of AI-driven solutions, Fossil's Canadian subsidiary significantly increased sales volume, including a 14% increase in revenue per site visit.
Metrical uses AI to analyze and predict customer behaviors that impact revenue, such as cart abandonment, then uses those insights to offer targeted and tailored incentives that seamlessly convert visitors into customers, fostering increased sales without sacrificing margins.
Metrical incentivized Fossil's customers in the region by offering free shipping to those who were more likely to abandon their cart. This laser-targeted promotion increased the number of carts created by 7.5% and reduced cart abandonment by 26%. Additionally, the retailer did not have to sacrifice margins because they had already offered free shipping to customers who spent a certain amount. These promotions showed that companies can increase volume without sacrificing margins and that non-discount offers can motivate purchasing.
"Protecting Margin is really important to Fossil, and Metrical has been a terrific partner in finding ways to use AI to accelerate e-commerce revenue, while ensuring we're not chipping away at profitability," said Matthew Austin, VP, Global Ecommerce, Fossil.
"Metrical is proud to partner with Fossil in leveraging AI-driven strategies to drive sales and preserve profitability," said Rameet Kohli, Co-Founder and President & COO at Metrical. "Our collaboration proves the power of harnessing sophisticated customer behavior data to ensure sustainable growth in a competitive retail environment."
About Fossil:
Fossil is a leading provider of fashionable watches and accessories, offering classic designs that are effortless and affordable.
About Metrical:
Metrical's behavioral customer engagement solutions use artificial intelligence (AI) to deliver net new revenue from consumers at target margins. While shoppers are still on your site, Metrical predicts which people are about to leave, engages with them, assesses their needs, and delivers compelling messaging that drives them to make a purchase – all in real-time. This personalized experience improves conversion rates, customer experience, and loyalty. Metrical is used by leading brands and retailers including JCPenney, DICK's Sporting Goods, Brooks Brothers, Fossil Group and others.
Contact:
Visit http://www.metric.al to learn more or request more information.
Follow Metrical on LinkedIn, Facebook and X
Media Contact
Rameet Kohli, Metrical, Inc., 1 (202) 288-4991, [email protected], https://metric.al
SOURCE Metrical, Inc.
Share this article