Watch Station, owned by Fossil Group, Inc., has seen an 18% increase in incremental revenue since partnering with the innovator in AI e-commerce solutions, Metrical.
EL CERITO, Calif., July 29, 2024 /PRNewswire-PRWeb/ -- Watch Station, the premier outlet for discounted watches and jewelry owned by Fossil Group, Inc., has seen a marked 18% increase in incremental revenue since partnering with the innovator in AI e-commerce solutions, Metrical. Purpose-built for apparel and accessories retailers, Metrical uses AI to analyze shopper behavior data to offer targeted and tailored messaging to convert site visitors into sales.
In the highly competitive e-commerce retail space, cart abandonment is a persistent challenge that impacts revenue streams. Watch Station collaborated with Metrical to mitigate abandonment by identifying key behaviors that signaled the likelihood of a customer to abandon, then used those deep insights to intervene effectively by offering personalized incentives and experiences to keep shoppers on the path to purchase.
Metrical's solutions included proactive hyper-targeted discounts aimed at specific products and carts, avoiding mass, site-wide discounts and thereby maximizing margins, resulting in a 26.2% reduction in cart abandonment.
Metrical also used comparison testing as a fast and effective way to learn what discounts customers responded to that would keep Watch Station's sales conversions steady without sacrificing margin. As a result, Watch Station saw an impressive 8.2% boost in cart creation and an 18% lift in revenue per visit.
"Metrical's nimble and thorough approach was instrumental in helping us understand and address the challenges posed by cart abandonment," said Matthew Austin, VP, Global Ecommerce, Fossil. "These tangible results are paving the way for us to continue driving revenue."
"We're passionate about helping boost retailers' results through AI insights, and our partnership with Watch Station underscores the effectiveness of Metrical's solutions," said Zabe Agha, Founder and CEO at Metrical.
About Watch Station, a Fossil Group Company:
Watch Station partners with the world's most iconic brands to curate a unique collection of the newest designer watches at competitive prices for men and women.
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.
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Media Contact
Rameet Kohli, Metrical, 1 2022884991 2022884991, [email protected], www.metric.al
SOURCE Metrical
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