TL;DR:
- DRINKS’ AI-driven wine recommendation tool, DRINKS Recommend, significantly increases revenue and engagement for online wine merchants.
- Implementation of DRINKS Recommend results in a 175% surge in session conversions, a 78% rise in average revenue per session, and a 52% increase in click-through rate.
- The technology utilizes PAIR (Predictive AI Retailing) models to analyze various wine attributes and customer preferences for personalized recommendations.
- Migration to Crossing Minds’ recommendation platform further enhances performance, enabling rapid iteration and optimization of AI models.
- Expected availability of the new solution for US-based merchants on the DRINKS App for Shopify in Q2 of 2024.
Main AI News:
In the realm of alcohol e-commerce, DRINKS stands out as a pioneering force, revolutionizing the landscape with its cutting-edge operating system. Today, fresh insights from DRINKS unveil the remarkable impact of its AI-driven wine recommendation tool, DRINKS Recommend, showcasing a significant uptick in revenue for online wine vendors.
The latest findings stem from the implementation of DRINKS Recommend on select pages of two prominent online wine retailers, collectively moving over 250,000 bottles per month. Comparative analysis against pages employing conventional “most popular” wine recommendations reveals staggering results:
- Conversion Boost: A noteworthy 175% surge in attributed session conversions.
- Revenue Surge: A substantial 78% increase in average revenue per session.
- Enhanced Engagement: A remarkable 52% uptick in click-through rates.
DRINKS Recommend represents the latest addition to DRINKS’ arsenal, leveraging its patented AI models, notably PAIR (“Predictive AI Retailing”). PAIR delves deep into various parameters, including wine attributes, tasting profiles, and customer preferences, to craft bespoke recommendations tailored to online merchants and their clientele.
Commenting on this groundbreaking development, Zac Brandenberg, Co-Founder, and CEO of DRINKS, remarked, “Our mission revolves around leveraging technology to revolutionize every facet of the alcohol industry, including its online marketing landscape. Understanding that consumer choices often hinge on labels, our adept fusion of industry expertise and technological prowess has birthed an AI-driven solution that furnishes precise and personalized wine recommendations based on nuanced factors like label variations.”
The successful deployment of DRINKS Recommend on Shopify marks a milestone in the company’s trajectory, following its migration from AWS SageMaker to Crossing Minds’ avant-garde recommendation platform. By amalgamating DRINKS’ industry acumen and proprietary AI models with Crossing Minds’ scalable infrastructure, DRINKS Recommend empowers beverage alcohol merchants on Shopify with finely tuned recommendations aligned with actual consumer behavior.
Justin Dean, CTO of DRINKS, emphasized, “Crossing Minds serves as the catalyst propelling our data science and engineering endeavors, facilitating rapid iteration and optimization of our AI-powered DRINKS Recommend models on an expansive scale. This strategic alliance equips us to deliver solutions that substantially enhance our clients’ e-commerce performance.”
Echoing this sentiment, Alexandre Robicquet, CEO of Crossing Minds, stated, “The fusion of DRINKS’ pioneering beverage alcohol data and AI expertise with our state-of-the-art recommendation engines has forged a formidable partnership, evident in robust performance metrics spanning click-through rates, conversion rates, and revenue.”
Anticipated to roll out in Q2 of 2024, this innovative solution is poised to empower US-based merchants leveraging the DRINKS App for Shopify, promising a paradigm shift in the online beverage alcohol retail landscape.
Conclusion:
The success of DRINKS’ AI-driven wine recommendation tool underscores the transformative potential of technology in the alcohol e-commerce sector. By leveraging AI to deliver personalized recommendations, DRINKS is not only enhancing the online shopping experience for consumers but also driving substantial revenue growth for merchants. This shift towards data-driven decision-making signifies a pivotal moment in the market, where companies embracing AI stand to gain a significant competitive advantage in meeting the evolving needs of online shoppers.
