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CromaRetail.com hike sales via personalised product recommendations

By Bhawana Anand | Vjmedia Works | November 18, 2014

After the Diwali season, 24.9 per cent of revenues have been coming from the Personalisation Platform, where orders with personalised recommendations have accounted for 28.8 per cent of the overall orders.

CromaRetail.com, a subsidiary of Tata Sons, has tied up with MIT-backed Infinite Analytics, Inc. (IA) to provide personalised recommendations for its online users. After the Diwali season, 24.9 per cent of revenues have been coming from the Personalisation Platform, where orders with personalised recommendations have accounted for 28.8 per cent of the overall orders. Conversions through the Personalisation Engine are a whopping 217 per cent higher than those without the recommendation engine.  The platform has allowed consumers to discover related and new products serendipitously, based on an understanding of the user, the product catalogue and the contextual data. Commenting on the association, Ajit Joshi, CEO & MD, Infiniti Retail Ltd. said, "Infinite Analytics has been consistently driving conversions and customer engagement. We are now looking to enhance the integration and personalisation for our users.”

Infinite Analytics was able to provide recommendations to Croma Retail's end-users immediately, without waiting for consumer history or clickstream behaviour. The product's multi-dimensional approach to personalisation allowed them to understand a user's intent in real-time and go beyond historical data to reveal the shoppers' evolving tastes, preferences and affinities - over time. The company avoids the'cold start' issue typically experienced with other product recommendation solutions - be it a new user to the site or a new product.
 
According to Akash Bhatia, Co-founder & CEO, Infinite Analytics, "It is important to understand both the customer and the product catalog before you can hope to optimize each customer's experience.  That's what we do really well.”
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