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4 in 10 Online Shoppers Give Product Discovery Experiences a ‘C’ Grade or Below, According to New Study

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Constructor survey highlights opportunities for retailers to ‘make the grade,’ as shoppers express interest in more tailored search results and AI-driven features that help them find the best items

SAN FRANCISCO, Sept. 16, 2024 /PRNewswire/ — Cookie-cutter online shopping experiences. Pages (and pages) of search results that don’t fit the bill. Filtering functionality that’s so limited, it might as well not be there. If scenarios like these sound familiar — and you have trouble finding the right items when shopping online — you’re not alone. According to a new survey from Constructor, more than 4 in 10 online shoppers (42%) give product discovery experiences on retail websites a “C” grade or below.

The data — part of Constructor’s second annual State of Ecommerce Search and Product Discovery report — highlights implications for retailers of not “making the grade,” along with high-impact opportunities for improvement. Nearly 900 shoppers across the US (585) and UK (311) participated in this year’s study, completing an online survey about their preferences and experiences when they search and browse on ecommerce websites, excluding Amazon.

Search struggles & slowdowns
Shoppers cite search difficulties — nearly 7 in 10 (68%) think the search function on retail websites needs an upgrade. This was felt more strongly in the US (71%) than UK (61%), with search challenges including:

Scrolling, scrolling, still scrolling… 44% of shoppers say it takes at least 3 minutes to wade through search results and locate the product they need. For more than 1 in 5 (21%), it takes at least 8 minutes. Only a quarter of shoppers (24%) describe finding products online as “quick.”Query doesn’t compute: 41% of shoppers say they have to “frequently” or “always” reformulate search queries to get ecommerce search engines to understand what they mean. 85% do so at least “sometimes.”That’s not quite right: For 42% of shoppers, although search results are technically relevant to their queries (e.g., they search for “shirts,” and shirts get returned), the products aren’t what they’re hoping to see and don’t reflect their preferences. This is a bigger pain point in the UK (48%) than US (38%).

Additional struggles across both search and product discovery include:

Have we met… ever? Despite their previous engagement and purchase history, more than 4 in 10 shoppers (44%) say that when they shop with their favorite retailer online, the site treats them like a total stranger — with generic recommendations and a total lack of personalization across the buyer journey.Can this be more fun? Less than 1 in 3 shoppers (32%) say finding products online is “enjoyable” — highlighting an opportunity for retailers to create experiences that drive deeper engagement.

The benefits of getting it right
Poor product discovery experiences often breed poor results. For instance, online shoppers say when they can’t find what they want, they’re more likely to leave the retail site (52%) and take their wallets elsewhere — buying the item(s) from a different retailer (48%) such as Amazon (38%) or through Google (27%).

But shoppers say if they knew an excellent search and product discovery experience awaited them at an ecommerce site, they would:

Shop more at that retailer — 62%Choose that retailer first for their shopping needs — 42%Leave a positive review — 41%Pay 5-10% more for the item(s) they’re searching for — 24% (up from 15% last year)

“Good product discovery experiences literally pay off,” said Nate Roy, strategic director of ecommerce innovation, Constructor. “The bar for a good digital experience continues to rise, and successful retailers work to meet and exceed shopper expectations. As technology and cost barriers drop, it’s even easier for retailers to make incremental changes that measurably improve both the shopper experience and business results.”

Charting a path for improvement
For retailers looking to enhance product discovery and realize more of the benefits above, shoppers provided a wishlist for improvements. They say their search experiences would be better with:

Results that better reflect what they’re looking for — 45%Better filtering of results — 1 in 3 (33%)Personalization of search results — 30% (however, only 18% among those 60 years and older)Autocomplete functionality — 27%Better integration of online and in-store experiences — 24%; a bigger priority in the US (28%) than UK (16%)

Mobile matters
Mobile commerce continues to soar; survey data shows more than 6 in 10 shoppers (61%) do at least half of their online shopping from their mobile device. What’s more, 1 in 5 shoppers (21%) do all their online shopping via mobile — underscoring the importance of unfettered product discovery in mobile environments.

Shoppers ages 60+ were just as likely as other age groups to do all their online shopping from a mobile device (21%). However, those 60+ were also far more likely than other age groups to do their online shopping exclusively from a computer (30%). In contrast, only 4% of those ages 18-29, 3% of those 30-44, and 10% of those 45-60 years old use only the computer (not mobile) for online shopping.

Tapping into GenAI
Generative AI (GenAI) is becoming increasingly pervasive across both business and consumer landscapes. More than half of shoppers (51%) say they’ve tried ChatGPT and other GenAI tools (e.g., Bing Chat, Google Bard) in their daily lives — up significantly from 29% last year. Usage varies by age group: Among those 60+, 26% have tried GenAI tools, while those 18-29 years old report the greatest use (64%).

This increased comfort and familiarity has important implications across ecommerce product discovery — highlighting opportunities for retailers to take advantage of the technology:

More receptive to GenAI: More than half of shoppers (52%) say they’d be “very” or “somewhat” comfortable using ChatGPT and other GenAI tools that understand human language to help discover the best products for them — up 10 points from last year (42%).This varies by age: Among those 60+, only 34% note they would be “very” or “somewhat” comfortable.Let’s be clear: Nearly half of shoppers (49%) say it’s “very important” that retailers are transparent about their use of GenAI (53% in the US and 41% in the UK).

Given shoppers’ interest in, and openness to, the technology, it’s incumbent on retailers to identify use cases that will drive the most value. And with 80% of shoppers “often” or “sometimes” going to ecommerce websites unsure of what to buy (e.g., when they’re looking for a gift, starting a new hobby, etc.), there’s an opportunity to use GenAI to improve search processes and paradigms.

That’s because when shoppers are uncertain or wavering, sites often don’t help them out: Nearly 1 in 3 shoppers (32%) say when they’re unsure what to buy, retail sites make it “somewhat difficult” or “nearly impossible” to find the right item(s). But shoppers think GenAI-based features and technologies can help, and it behooves retailers to listen:

Searching in sentences: 44% of shoppers would like the ability to explain themselves in longform sentences in search (not just typing terse keywords) — and have the search bar understand.Engaging with AI assistants: When they’re unsure, more than 6 in 10 shoppers (61% — and 44% of those 60+) would “definitely” or “probably” be willing to let an AI shopping assistant help them — for example, explaining to the assistant through the search interface what they’re trying to accomplish, and getting personalized, in-stock suggestions.

In addition to AI assistants, looking across the ecommerce landscape, shoppers think GenAI has high potential to improve areas including:

Product recommendations — 41%Visual/image search — 36%Personalization — 33%Fraud detection — 25%; a bigger priority in the US (29%) than UK (19%)Virtual try-on — 21%Customer support — 20%

“There’s great interest in applying GenAI to ecommerce and, correspondingly, there’s also been a great pace of innovation,” said Nate Roy, strategic director of ecommerce innovation, Constructor. “But implementing GenAI for GenAI’s sake isn’t a smart move, and retailers are moving beyond what’s simply flashy to what’ll drive sustained value for them and their customers. Uses like AI assistants are already meeting shoppers’ needs and improving retail results. We encourage retailers to look at where product discovery is heading, and how consumers will increasingly want to engage — and then use AI and other technology strategically to cement themselves as leaders in this future.”

For more information, and to download the full State of Ecommerce Search and Product Discovery report, please visit bit.ly/state-of-ecommerce-2024

About Constructor
Constructor is the only search and product discovery platform tailor-made for enterprise ecommerce where conversions matter. Constructor’s AI-first solutions make it easier for shoppers to discover products they want to buy and for ecommerce teams to deliver personalized experiences in real time that drive impressive results. Optimizing specifically for ecommerce metrics like revenue, conversion rate and profit, Constructor generates consistent $10M+ lifts for some of the biggest brands in ecommerce, such as Sephora, Petco, Birkenstock, The Very Group, home24, Grove Collaborative and Fisheries Supply. Constructor is a U.S.-based company that was founded in 2015 by Eli Finkelshteyn and Dan McCormick. For more, visit: constructor.com

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SOURCE Constructor

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Schematic Raises $4.8M in Funding For the Last Mile of Pricing and Packaging For SaaS Companies

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Schematic is transforming pricing and packaging for B2B SaaS companies, allowing product and engineering teams to implement flexible models with minimal maintenance. By eliminating fragmented, homegrown systems, Schematic helps businesses adapt to modern buying preferences and maximize revenue. Now publicly available, the platform includes embeddable UI components and integrates deeply with Stripe. Backed by $4.8M in seed funding, Schematic offers a streamlined solution for managing the full pricing and packaging lifecycle.

BOULDER, Colo., Sept. 20, 2024 /PRNewswire-PRWeb/ — Schematic is transforming pricing and packaging for B2B SaaS companies by getting product and engineering teams out of billing projects. With just a few lines of code, businesses can implement pricing and packaging into any application, bridging the gap between outdated, inflexible billing tools and the demands of modern software businesses.

“Maintaining pricing and packaging has been messy for product and engineering teams. Tools exist for finance, but none bridge the gap to support feature fulfillment and user experience. Schematic fills that gap, offering control and transparency from rollout to revenue,” said Fynn Glover, CEO

The company announced today that it is now available to the public after a year in development with a select set of beta customers, and that it is launching Components – embeddable UI elements for purchasing experiences – and a deep integration with Stripe providing a full stack solution for pricing and packaging.

The current pricing and packaging landscape is dominated by fragmented systems and frankenstein implementations. Schematic surveyed 100s of product and engineering leaders and found that their homegrown systems and processes weren’t built for flexibility or to support modern buying preferences such as metering and modular packaging. Consistently, teams struggled to adequately resource pricing and packaging initiatives and, as a result, left significant money on the table.

“Historically, maintaining pricing and packaging for product and engineering teams has been a mess. The market has tools for finance teams in spades, but none that bridge the gap to the application to support feature fulfillment, the end user experience, and internal tools, so we end up building them from scratch. We built Schematic to address that gap, and our product allows businesses to handle the entire lifecycle of a feature from rollout to revenue, offering best-in-class control and transparency to end users out of the box,” said Fynn Glover, CEO of Schematic.

The company wants to eliminate the need for businesses to reinvent the wheel to support pricing and packaging in applications. Schematic offers the flexibility to launch, package, meter, and monitor features from one place, without the tax of architecting and maintaining homegrown systems.

Pricing and packaging sits within a $30B market that includes the tools to license, fulfill, and bill end customers. It faces significant challenges due to the consumerization of B2B SaaS that has led to evolving buying preferences and expectations, pressure on back office operations, and legacy tools that are difficult to implement, costly, and do not integrate well with modern tools and applications. This has led to fragmented, homegrown systems and processes that divert resources to maintain and delay growth initiatives.

Schematic believes that an integrated platform, rather than disconnected tools and processes, should support customers from purchase to feature delivery and the operators tasked with supporting them. The launch of Components extends Schematic’s value proposition with embeddable UI elements that deliver best-in-class purchasing experiences to SaaS customers.

Schematic’s co-founders Jasdeep Garcha, Benjamin Papillon, Giovanni Hobbins, and Fynn Glover are seasoned entrepreneurs with experience on many sides of this problem having most recently led Operations, Product, Growth, and Engineering functions at Automox, Twilio, and Relay Payments. They have previously built successful startups and bring their expertise to Schematic to address the evolving needs of B2B SaaS companies.

The company is launching with $4.8M in seed funding led by MHS Capital with participation from NextView Ventures, Active Capital, Atlanta Ventures, and the founders of LaunchDarkly, Salesloft, Salesforce Pardot, and Crowdstrike.

“The decision to back Schematic was easy, given the clear market need and the team’s proven track record. Schematic is poised for rapid growth by providing an integrated solution for SaaS pricing and packaging,” said Vijay Naggapan, partner with MHS Capital.

Schematic’s platform allows businesses to outsource pricing and packaging with a few lines of code, enabling them to quickly launch new packaging models, take the burden off of engineering almost entirely, and flexibly adjust their pricing and packaging to individual customer preferences. The product has been in beta for a year with customers ranging from early-stage startups to growth-stage scale-ups, all benefiting from the flexibility and control it provides.

“There should be a standard for how digital businesses operate pricing and packaging. Schematic provides that standard, eliminating fragmented systems that frustrate teams and slow down businesses,” said Fynn.

“Schematic has allowed us to manage entitlements and metering with ease, setting us up in just a few days,” said Daniel Chalef, CEO of Zep, an early-stage SaaS company that replaced manual processes with Schematic’s automation. By implementing Schematic Zep has adapted to customer demands for new offerings easily without major engineering investments.

Learn more about Schematic. The product is free for early stage businesses.

Media Contact

Jasdeep Garcha, Schematic, 1 9192158521, jasdeep@schematichq.com, https://schematichq.com/

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SOURCE Schematic

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Edifier Announces Opening of SoundStudio Showroom in New York

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Edifier, a leading audio brand, is thrilled to introduce its cutting-edge audio products to the American market with a pop-up showroom, allowing customers to explore and experience the latest innovations in audio technology firsthand.

RICHMOND, BC, Sept. 20, 2024 /PRNewswire/ — Edifier, the renowned audio brand, is set to open its SOUNDSTUDIO pop-up showroom in New York City from September 21 to September 28, 2024. Located at 545 W 23rd St, New York, the event will showcase Edifier’s flagship products, offering attendees a unique opportunity to experience top-tier audio equipment.

Visitors will have a chance to explore a wide range of Edifier products, including Planar Magnetic Headphones (STAX SPIRIT S10, S5, S3), Earbuds (NeoDots, NeoBuds Pro 2), Over-ear Headphones (WH950NB, W830NB, W800BT Pro), Table Speakers (D32, D12, MP230), 2.0 Speakers (R1280DB, S1000W, S3000MKII), and the Q Series Speakers (QR65, QD35, QS30). This carefully curated lineup is designed to cater to different audio preferences, from high-fidelity listening to immersive soundscapes.

Edifier is hosting this event to highlight its audio products and further solidify its position as a leader in the American audio market, offering attendees the chance to engage with the brand, share their “Passion for Sound,” and be among the first to experience the brand’s innovative audio solutions.

The showroom will feature Edifier’s latest state-of-the-art speakers and headphones in a stylish studio space, allowing visitors to experience their performance and design in real-life settings. This immersive environment will enable the American public to appreciate Edifier’s meticulous attention to audio quality and design, while fostering a friendly atmosphere for social gatherings and hands-on testing of the Edifier audio range.

The event will include special appearances from NBA, NFL, and AFL stars, including Edifier W830NB ambassadors Jared McCain (Philadelphia 76ers) and Donte DiVincenzo (New York Knicks), Tyrod Taylor (New York Jets) and Tyler Nubin (New York Giants). Attendees will have the opportunity to see how Edifier’s W830NB headphones play a vital role in keeping these sports stars connected to their passion for sound.

Attendees will not only have the chance to experience Edifier’s cutting-edge products but will also be treated to exclusive giveaways. Prizes include W800BT Plus headphones, W320TN earbuds, MP100 Plus speakers, NeoBuds Pro 2, W830NB headphones, and the Comfo Run series.

Frank He, Marketing Director at Edifier, stated “Edifier are delighted to be holding this event in New York. The event is crucial for showcasing the company’s leading products and innovative technology. The presence of the AFL, NFL and NBA stars discussing their use of the Edifier W830NB headphones reinforces Edifier’s status as a top contender in the consumer audio market.”

There are many surprises to explore throughout the week! Don’t miss out on this unique opportunity to meet your favorite athletes and experience EDIFIER’s cutting-edge audio technology firsthand. More highlights and sidelights will be detailed on the Edifier global Instagram account (@edifier_global).

Full Event Schedule:

Sep 21st: Kick off the week with our Grand Opening, featuring electrifying beats by DJ Leisan Valieva.Sept 22nd: Get close with Tyrod Taylor of the New York Jets at an exclusive Meet and Greet.Sept 23rd: Get close with Tyler Nubin of the New York Giants at an exclusive Meet and Greet.Sept 24th: Join us for an incredible appearance with Jared McCain of the 76ers and Donte DiVincenzo of the New York Knicks!

About Edifier:

Edifier specializes in the design and manufacture of premium audio solutions that showcase technological innovation and design excellence. Founded in 1996 and headquartered in Beijing, China, Edifier delivers outstanding sound experience through a wide range of audio systems for personal entertainment and professional use. Renowned for its award-winning design philosophy, expertise and innovation in acoustic technology, and superior manufacturing standards, Edifier is one of today’s leading innovators of audio electronics.  

More information about Edifier is available online at www.edifier.com/global

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SOURCE Edifier

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Volar Air Mobility and Exim Finance Partner to Pioneer Green Financing Solutions for Sustainable Aviation

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MONTREAL, Sept. 20, 2024 /PRNewswire/ — Volar Air Mobility has formed a strategic partnership with Exim Finance to accelerate the commercialization of electric aircraft. This collaboration, formalized by a Memorandum of Understanding (MoU), focuses on developing innovative green financing solutions to support sustainable aviation globally.

The partnership centers around Volar’s RX-series Electric Aircraft, including the RX4E, the world’s first four-seater electric plane expected to receive commercial approval. Together, Volar and Exim Finance will create financial models that include green financing options and carbon credit offsets, making eco-friendly aircraft more accessible.

Key highlights of the collaboration include:

Development of sustainable financing models for RX-series Electric Aircraft.Introduction of carbon credit offsets to promote green aviation.Broadening access to electric aircraft in emerging markets.Aligning with global decarbonization goals like the UAE’s Net Zero by 2050.

Revolutionizing Air Mobility, Driving Innovation and Sustainability

Volar Air Mobility sets itself apart with an aircraft-agnostic technology platform, allowing it to integrate a variety of sustainable aircraft. The RX4E, a fully electric four-seater, is leading the charge toward a greener aviation future. Volar’s focus is on making electric air travel affordable and accessible in developing regions, supporting environmental goals while boosting local economies. By collaborating with Volar, Exim Finance is breaking new ground in green aviation. Exim Finance offers a range of financial services across Asia, Africa, Europe, and North America.

Industry Leaders Comment on the Partnership

Mr. Salah Ibrahim Al Nasser, Chairman of Exim Finance, commented: “We are honored to be part of this significant initiative aimed at transforming the future of aviation through sustainable practices. As a financial institution committed to supporting innovation and environmental responsibility, EXIM Finance recognizes the critical importance of green aviation in reducing the industry’s carbon footprint. By partnering with key stakeholders, this Memorandum of Understanding represents a major step forward in creating a more sustainable aviation ecosystem.”

Mr. Henry Hooi, Chairman of Volar Air Mobility Holding Company Limited, added: “Volar Air Mobility is honored to be working with EXIM Finance on a pioneering initiative to develop a series of green financing solutions to enable green aviation. The opportunity is to co-develop pioneering solutions in UAE to enable broader adoption of green aviation globally, thus contributing meaningful environmental impacts and fulfilling the aspirations of many, including those outlined in the UAE Net Zero by 2050.”

Mr. Saif Aldarmaki, Founding Partner of Volar Air Mobility Industries, stated: “This partnership reflects our shared commitment to revolutionizing the green aviation sector. By working with Exim Finance, we are taking a bold step forward in realizing the promise of electric aviation and supporting the global transition to sustainable technologies.”

Mr. Anwar Hussein, Managing Partner and Co-founder of Volar Air Mobility Industries, emphasized the collaboration’s significance, stating: “With this MoU, we are laying the groundwork for the future of green aviation financing. Our combined expertise will allow us to create financing structures that support early adopters of electric aircraft and help expand the global market for eco-friendly aviation solutions.”

About Volar Air Mobility

Volar Air Mobility is a green air mobility technology company focused on the commercialization of electric aircraft worldwide. The company holds exclusive commercialization rights for the RX-series Electric Aircraft, developed by the Liaoning General Aviation Academy (LGAA), and is dedicated to fostering sustainable aviation technologies that contribute to a greener future.

About Exim Finance

Exim Finance provides investment, corporate, and commercial banking solutions across several continents, helping drive growth through innovative financial solutions. With a strong global presence, Exim Finance leverages a diverse team whose extensive connections with Export Banks and Credit Insurance providers enable them to deliver tailored financial solutions that empower clients’ success.

For more information, visit www.volarairmobility.com and www.eximfinance.ae.

Media Contact:
Miss Wyam Amiri
Inovartic Investment
Abu Dhabi, UAE
Email: 383409@email4pr.com 
Phone: +971561090758

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SOURCE Volar Air Mobility

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