You are currently viewing Recommendation System In Retail

Recommendation System In Retail

Examples of how retail can incorporate the recommendation systems into their business practice.

Recommender system is an essential tool that can suggest personalized products or services for a given customer and directly help to increase business sales and attract more customers.

t is reported that 35% of what consumers purchase on Amazon come from product recommendation system [9].

Alibaba, China’s biggest e-commerce company revenue rose 51 percent to 93.5 billion yuan after the introduction of the new recommendation-based advertising [28].

Best Buy, reported a 23.7% increase in second quarter of 2016 after the concentration of online sales with product recommendation engine.

There have been few published studies that provide direct evidence of the value of recommender systems to e-Businesses such as, a consumer packaged goods supermarket LeShop [6] which demonstrated an increase of 0.30% of direct monthly revenue and at least by 66% and on average by 336% for indirect extra revenue.

Read more here

Leave a Reply