The US’s retail giant JCPenney is teaming up with predictive AI analytics solutions provider Metrical to drive retail transformation in its e-commerce strategy and boost customer experience.According to reports, the midscale American department store chain since its deployment has witnessed dramatic surge in its revenue ad more as 10% on targeted visits, 40% increase in new cart creation and 18% decrease in in cart abandonment.
The retailer to help its customers in their online shopping journey is tapping the predictive AI analytics. The company believe that the integration of predictive AI analytics will benefit heavily for its online retail stores and boost its competitive position in today’s online retail market.
The retail giant’s partnership with the Metrical’s predictive AI to give it the ability to better understand the customer’s buying power, buying patterns, and preferences in real time. The predictive AI analytics in turn will help the firm to provide improved online shopping experience to the customers.The predict Ai analytics will examine billions of data points and unique behavioral models. The predictive analytics tool this will understand the shoppers’ buying patterns and determine what will help the shopper in his or her purchase decisions.
JCPenney with its move aims to boost its profitability whilst providing good shopping experience to the customers. Personal recommendations based on customers’ preferences and other services will be provided by the AI analytics tool. JCPenney operates in United States and Puerto Rico in its 689 locations. Additionally, the company also operates a flagship store jcp.com.