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

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

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

  1. 1. 1 Best-In-Class Retail Product Discovery
  2. 2. 2 Speakers Dave Hawkins Principle Sales Engineer Matthew Walsh Director of Data & Retail
  3. 3. 3 Agenda • Product Discovery Insights – IMRG • Best-in-Class Product Discovery example • Q&A
  4. 4. Imrg.org imrg imrgupdate Site Search Insights
  5. 5. Site Navigation Map Average Conversion Rate: 3.1% Site Visitors Avg Search rate: 14%
  6. 6. Site Navigation Map Average Conversion Rate: Site Visitors Avg CVR of Search users 7.4% Avg Search rate: 14% 3.1%
  7. 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. 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. 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. 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. 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. 12. Site Navigation
  13. 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. 14. Site Navigation
  15. 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. 16. Imrg.org imrg imrgupdate Thank You! Matthew.walsh@imrg.org
  17. 17. 17 Best-in-Class Retail Product Discovery Example
  18. 18. 18 Q&A Contact us: contact-sales@lucidworks.com
  19. 19. 19 THANK YOU Contact us: contact-sales@lucidworks.com

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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

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