reBuy.de now even more successful thanks to top performance of the prudsys RDE
Enormous increase in margin by Dynamic Pricing at Germany’s largest reseller.
4.2 million items, 3.5 million reBuyers, 100,000 item transactions on peak days, 16,000m² available shelf space, 400 dedicated employees: reBuy reCommerce GmbH is a company of superlatives. prudsys AG has been part of the reBuy.de success story since 2011. In an exciting combination of the modules prudsys RDE | Recommendations, prudsys RDE | Newsletter and prudsys RDE | Pricing, reBuy customers always get a special shopping experience – effective, custom, relevant.
Used cell phones, books, movies, games and electronics – the extremely range of products at reBuy.de features over four million items and is constantly changing. That is why it was so important to the makers of the online shop to reach each customer on a personal level. Personalized recommendations are used to achieve this goal. They are automatically calculated and generated based on current user behavior. On the basis of this recommendation solution, all customer contact channels should be personalized in real time – from the website to the newsletter right down to the special reBuy e-mail format of the after-sales mail. In addition to increased customer satisfaction and loyalty, short-term effects are also expected: increased conversion rate and time spent on the site, higher click and open rates. In order to optimize the associated sales, in addition to 1:1 personalization of the customer contact, pricing should also be dynamic, flexible and up-to-date, maximizing the profitability of the online shop over the long term.
Thanks to its patented algorithms and modular setup, the prudsys RDE offers ideal solutions to these challenges. First, the module prudsys RDE | Recommendations was implemented. This module analyzes all available user data in real time, e.g. the current click and purchase patterns, and is able to combine this data with historical behavior data (previous clicks, purchases, canceled shopping baskets etc.) as well as approved profile information (e.g. age, gender). By interacting with the user and the ability to learn from the collected data in real time, it is possible to proactively predict the behavior of each individual customer. This starts with the first click, which means that even previously unknown users can be personallyadvised immediately. Next, the module prudsys RDE | Newsletter was implemented to dynamically calculate real-time recommendations with a high conversion rate for the e-mail channel. What is remarkable here is that these recommendations are actually only generated when the customer opens thee-mail, making them as up to date and as personally relevant as possible. reBuy includes this information in its newsletter and in its after-sales mail. The company also uses the module prudsys RDE | Pricing to control the pricing in its online shop. The sale price is automatically calculated in real time using the product performance ascertained. Other factors including current industry trends, market prices and competitor’s offers are also incorporated into the ideal price but are of secondary importance. The prudsys RDE also automatically determines the purchase price using product performance and considering the premises for margin and profit margin optimization. This helps reBuy to achieve absolute pricing automation, which means that price adjustments are always dynamic, flexible, current and require minimal effort. Nevertheless, manual price control when performing pricing experiments, for example, is still possible. The prudsys RDE also takes into account the special requirements of the product portfolio without any difficulty: Each item is reclassified according to its condition (e.g. mint condition, lightly used, well used), which makes it necessary to have differentiated product descriptions, differentiated pricing and ultimately properly differentiated recommendations – not simply within a category but actually for each individual item.
By incorporating the modules prudsys RDE | Recommendations and prudsys RDE | Newsletter, reBuy was able to increase its sales from recommendations by are markable 13 percentage points, creating optimal cross- and up-selling potential. Since implementing the prudsys RDE, the average click rate has risen by 165 % and the conversion rate by 18 % percentage points. The open rate of the newsletter has also risen considerably. The module prudsys RDE | Pricing has successfully achieved the sought-after optimization of the overall profit margin and profitability of the online shop. The margin was also significantly increased.
At a glance
Increase in customer satisfaction and loyalty through recommendations with maximum personal
Increase in profitability of the online shop thanks to dynamic price adjustment
Increase in time spent in shop, conversion rate, open rate and sales in the newsletter and online shop
Automated generation of recommendations across various channels
Comprehensive, dynamic price automation
Real-time adjustment to changes in user interests and inclusion of
Increase in sales from recommendations by 13 percentage points
Increase click-through rate by 165 %
Increase in conversion rate by 18 percentage points