To respond flexibly and quickly to ever-changing customer expectations in e-commerce, more and more online retailers are opting for composable commerce. This post is about the benefits of composable commerce and why you should choose our AI-driven personalization solution for your best-of-breed concept.
What does composable commerce mean in online commerce?
Composable commerce means that the retailer selects the best solution (“best-of-breed”) to optimally serve the specific requirements of an individual aspect of the online business – like for the ordering system, for check-out, or for personalized recommendations. The various solutions run parallel as microservices within the overall solution and communicate via APIs. The store front-end is also decoupled from the microservices behind it in the back-end. For this, retailers need an open and flexible software framework that supports the modular composition of the various solutions.
The market research and consulting firm Gartner assigns important significance to composable commerce: “By 2023, organizations that have adopted a composable commerce approach will outpace the competition by 80% in the speed of new feature implementation.”
What are the benefits of composable commerce?
A single commerce platform that supports all aspects of a functioning online business may seem more practical but in reality, this system no longer meets the growing customer demand for online commerce. Its components are interwoven, and changes can only be made with great effort. The alternative approach of composable commerce allows for uncomplicated changes in the digital strategy and incorporates the following advantages:
♦ Flexibility and agility: You can react quickly to market changes and customer requirements
♦ Competitiveness and differentiation: you choose the best-of-breed solution for unique shopping experiences specific to your industry
♦ Customer engagement: This approach enables you to serve all customer touchpoints and thus exploit your revenue potential
♦ Marketing Activities: You can implement specific marketing activities for each customer channel that are designed to have a positive impact on your success metrics, such as personalized newsletter campaigns or individual incentives
Why choose our best-of-breed personalization solution?
We have been developing self-learning algorithms and testing innovative processes for commerce for over 20 years. A data-driven, personalized customer approach with individually tailored content for each customer is a key success factor for your online business. It should therefore be part of your modular e-commerce platform. Our best-of-breed solution for personalization is used by retailers worldwide.
Additional benefits include:
♥ Personalization from the first customer contact: 360 degrees | 1to1
♥ Improved conversion rates, click rates, personalization, sales, and customer loyalty
♥ Use of individual scenarios to differentiate from the competition, e.g., personalized product recommendations, individual content, banners, navigation elements, and much more at all touchpoints
♥ Intuitive HTML 5-based web GUI: Easy integration into your IT infrastructure, e.g., in a framework into the CMS
♥ The AI uses reinforcement learning with more than 20 algorithms: You choose the most appropriate recommendation logic from a variety of options
♥ The ability to make changes to recommendation logics, as technical recommendation logic and technical playout are separate
♥ Defining fallbacks for your campaigns according to your business rules (instead of just top sellers). Retailers can use different fallbacks per campaign and combine models thanks to Loop & Group function: from the top category for the user, the full recommendation is played out (result from the first model is input for calculating further models)
♥ Finding the best recommendation strategy faster: Our data shows the performance of your recommendations down to the actual logic.
♥ Selling fixed product placements: You can control each position of a recommendation space individually. This feature lets you test specific brands or products selected in the recommendations.
♥ A/B testing of different recommendation logics via dashboard widgets in the web interface with just a few clicks.
♥ Our AI solution runs on Open JDK: a benefit from the advantages of the free implementation of the Java platform
Would you like to learn more about our AI-driven personalization solution?