Dynamic Yield by Mastercard announced an advanced generative AI tool called Shopping Muse at the end of 2023 and now, Michael Kors is the first retailer to make Shopping Muse available to consumers through an integration on its US website.
In the summer, fashion shoppers are searching for stylish and versatile pieces suitable for vacations, weddings and everyday comfort, and Shopping Muse translates natural language into tailored product recommendations. As part of initial tests, Shopping Muse generated a 15-20% higher conversion rate than traditional search queries.
While browsing Michael Kors' assortment of ready-to-wear fashion and luxurious accessories, a shopper might ask the GenAI tool to help find similar-looking items or outfit suggestions for attending a specific occasion. This highly personalized tool recreates the in-store experience online, ultimately boosting shopper satisfaction and revenue.
GenAI Shopping Assistants
Shopping Muse Supports Michael Kors US Website Visitors
Trend Themes
1. AI-driven Personalization - Shopping Muse exemplifies how generative AI transforms the online shopping experience by offering highly personalized product recommendations.
2. Natural Language Processing in Retail - By translating natural language queries into tailored product suggestions, Shopping Muse demonstrates the disruptive potential of NLP in improving conversion rates and user satisfaction.
3. Virtual Shopping Assistants - The introduction of Shopping Muse highlights a shift towards virtual assistants that recreate the in-store experience, reshaping consumer engagement online.
Industry Implications
1. E-commerce - The integration of AI-driven tools like Shopping Muse offers e-commerce platforms new ways to enhance customer engagement and sales.
2. Fashion Retail - Fashion retailers like Michael Kors can leverage generative AI to provide personalized shopping experiences, driving higher conversion rates and customer loyalty.
3. Artificial Intelligence - The development of tools such as Shopping Muse underlines the transformative impact of AI on consumer-facing applications within the retail sector.