Retail and eCommerce highlights this week include: Algolia continues to empower organisations to fulfil tailored consumer experiences in real-time. Tribyl launches a solution for automating messaging and positioning feedback across the entire B2B buying journey. The fines handed out for breaches of Data Protection Act (DPA) and Privacy and Electronic Communications Regulations Act (PECR) were published. Leading Buy Now, Pay Later (BNPL) provider Zip has announced its partnership with THG plc. HINGE GLOBAL, an industry-leading full-service eCommerce agency, has joined the NielsenIQ Connect Partner Network.
Algolia plans general availability of AI-Powered Search Products
Algolia, a provider of an API Platform for Dynamic Experiences, has launched two key products in its Algolia Search portfolio. Dynamic Synonym Suggestions, and Dynamic Re-Ranking. Launched into beta in Fall 2020, these AI-powered products are designed to surface relevant content and products irrespective of how a person navigates the site or describes the item they are searching for, serves up results based on the person’s actions on the site, and provides the ability to personalize the experience.
As consumers expect frictionless and personalised digital experiences, AI can help organisations meet this need. However, applying AI to search can be complex, as many companies lack the budget for a data science or development team to focus on this solution. Even if they are able to get their AI-powered search experiences up-and-running, it is difficult to manage on a day-to-day basis for those with a non-technical background.
Only Algolia has made it possible to turn on a family of powerful AI models in a matter of clicks, while still allowing the business to use their market knowledge to manage and tune the entire search experience. Algolia introduces the full power of AI to generate dynamic experiences, and the products now generally available include:
- Dynamic Synonym Suggestions: Provides the automatic analysis of search patterns and recommends synonyms that deliver the most relevant results. For example, if a record contains the keyword “pants,” but a user searches for “trousers,” adding the correct synonyms ensures that the user is served relevant search results.
- Dynamic Re-Ranking: Leverages AI to analyse all visitors’ search and navigation actions to learn and then present the highest-performing content for the most popular queries and category pages. Dynamic Re-Ranking provides granular control to the business user and optimises search relevance and maximizes business results.
Tribyl launches Machine Learning-based win-loss solution
Tribyl has launched its machine learning-based win-loss analysis product for B2B enterprises of all sizes. Product marketers rely on timely insights into why and how customers are buying to inform messaging and positioning. However, win-loss analysis is currently a 100% manual process. Data collection is painful and costly, and limited to a small fraction of deals. Tribyl’s product is a first-of-its-kind solution that uses machine learning to mine both unstructured and structured data, creating a single source of truth across all buying journeys. This enables go-to-market teams to make smarter and faster decisions. Per CSO Insights, dynamic customer journey alignment can unlock 15-20% higher revenue growth.
Many enterprise markets have become highly crowded and competitive, impacting win rates. Buyers are more educated and aware than ever before, but also more overwhelmed. Getting to decision-makers has become harder, and 4 out of 10 deals end up in “no decision”. As a result, real-time feedback on what messaging and positioning is converting to revenue is critical to finding, accelerating, and closing deals. Today, these insights lay buried in emails, call recordings, CRM, documents, surveys, and interview transcripts. This data is hard to search, and often never found. By the time product marketing teams complete manual win-loss analysis and update messaging and positioning, the market has changed, and opportunities lost. Tribyl’s automated approach provides timely voice of the customer insights into all wins, losses, and no decisions. Tribyl says this leads to higher quality go-to-market decisions and higher conversion at each stage of the funnel.
Tribyl’s platform uses purpose-built natural language processing (NLP) and machine learning algorithms to analyse both structured and unstructured data. The solution automatically identify which messages are converting to revenue (or not) for a specific buyer and at each stage of the funnel. This allows product marketers to rinse and repeat messaging that is driving sales while pinpointing gaps to address.
ICO issued fines of £42 million in 2020
The Information Commissioner’s Office (ICO) has issued final civil monetary penalties in 2020, totalling £42,416,000. The reasons for the fines included breaches of Privacy and Electronic Communications Regulations (PECR) and the Data Protection Act (DPA). The data, contained in the ICO’s ‘work to recover fines’ report and analysed by the Parliament Street Think Tank, reveals a catalogue of fines issued across a variety of sectors.
The analysis shows the scale of the fines highlights the severity of the problem. A total of 17 penalties were issued last year according to official figures. The largest fine was given to British Airways in the transport and leisure sector on 16th October 2020 at a total of £20,000,000 for a breach of the Data Protection Act (DPA). This is followed by a fine of £18,400,000, issued to Marriott International Inc on 30th October 2020, also for a breach of the DPA.
The next largest was to Ticketmaster LTD, with a fine totalling £1,250,000 for data breaches on 13th November 2020. Then, DSG Retail Ltd, CRDNN Limited and Cathay Pacific all received fines totalling £500,000.
Additionally, CRDNN was with a £500,000 fine on 2nd March 2021 for breaches of Privacy and Electronic Communications Regulations (PECR). The industry hit with the biggest fines was marketing with nine fines in total issued, followed by three fines issued to firms in the transport and leisure sector.
Additionally, the ICO issued three court orders for winding-up upon petitions in 2020. Trusted Futures Ltd received a penalty amount of £70,000, Superior Style Home Improvements received a penalty fee of £150,000 and Alistar Green Legal Services Ltd received a penalty fee of £90,000. All three organisations were given court orders in 2020.
Additionally, there were eight directors disqualified following ICO enforcement action in 2020. These directors have been disqualified for a number of years for conduct while acting for various companies.
Zip partners with THG
Leading Buy Now, Pay Later (BNPL) provider Zip has announced its partnership with THG plc. The partnership enables the provision of interest-free payments over four instalments to customers shopping on THG sites and with brands using the THG Ingenuity end-to-end eCommerce platform.
In a multi-market agreement, Zip will be a payment option at checkout across THG’s sites in the UK, US, Australia and New Zealand. THG customers across more than 30 brands such as LOOKFANTASTIC, Myprotein and Zavvi will now be able to check out with Zip’s flexible, interest-free ‘Pay in 4’ product.
Zip will also integrate with THG Ingenuity, allowing the growing number of brands choosing the platform for their own direct-to-consumer sales to offer Zip’s interest-free payment option. Through a simple integration and Zip’s global scale, retailers on the platform can seamlessly switch on Zip and serve customers internationally.
Founded in 2013 in Sydney, Zip is one of the fastest-growing Buy Now, Pay Later players in the world with over 6.4 million Zip customers globally. It works closely and collaboratively with merchants to seamlessly embed the Zip platform and deliver a first-class customer experience, while clearly communicating to customers how Zip works and the benefits ‘Pay in 4’ can offer.
With the rising consumer popularity of the flexible payment method, Zip is set to be one of the first to offer Buy Now, Pay Later both online and in-store in the UK.
HINGE GLOBAL partners with NielsenIQ to provide eCommerce solutions
HINGE GLOBAL, an industry-leading full-service eCommerce agency, has joined the NielsenIQ Connect Partner Network. The network is an open ecosystem of solution providers for retailers and manufacturers in the consumer packaged goods (CPG) industry. The HINGE GLOBAL + NielsenIQ partnership provides eCommerce expertise and omnichannel insights to CPG manufacturers.
NielsenIQ is the worldwide leader in measurement and data analytics, providing trusted view available of consumers and markets worldwide. HINGE GLOBAL is a leading full-service eCommerce agency, with a staff of experienced eCommerce specialists and proprietary technology to accelerate online sales and help manage every facet of digital commerce operations. In particular, HINGE GLOBAL has cultivated deep expertise in Amazon, Walmart.com, Target+, and other global marketplaces. HINGE GLOBAL has a proven track record managing over 150 brands and $600 million in total gross online sales.