This revolutionary tool is designed to integrate into retailers’ websites, delivering a personalised and intuitive shopping experience that significantly improves key business metrics, including conversion rates, cart abandonment, returns, and ultimately EBITDA.
Unlike traditional AI solutions that prioritise automation-led efficiency, the shopping agent from Arundel Advisers’ AI Lab takes a customer-first approach. By focusing on enhancing the customer journey, the AI empowers retailers to build stronger customer relationships, increase loyalty, and drive sustainable growth.
Key Benefits:
- Elevated Customer Satisfaction: Personalised experiences and real-time support create a more engaging and satisfying shopping journey, leading to increased customer loyalty. (According to Statista, 91% of consumers are more likely to shop with brands that offer personalised experiences, and 80% more likely to shop with those offering real-time support.)
- Increased Conversion Rates: The AI agent guides shoppers with personalised product recommendations and real-time decision support, resulting in faster purchasing decisions and higher transaction rates. (Dynamic Yield reports that personalised experiences can increase conversion rates by 10-20%.)
- Reduced Cart Abandonment: By proactively engaging with customers at critical moments, the AI agent addresses potential purchase barriers, offers tailored suggestions, and answers questions in real-time, significantly reducing cart abandonment rates. (Baymard Institute cites average cart abandonment rates of 70.19% in 2024, with even higher rates in categories like Beauty & Personal Care (82.87%), Home & Furniture (79.10%), and Fashion Accessories & Clothing (76.94%) according to Dynamic Yield.)
- Lower Return Rates: Precise product recommendations based on individual customer preferences minimise the likelihood of incorrect purchases, leading to a reduction in return rates, which were estimated to have reached £27.3 billion in the U.K. during 2024 (according to Retail Economics.)
- Navigating Choice: A recent article in Business Insiders highlighted that 74% of respondents said that they had abandoned an online shopping cart at least once in a 3 month period because they felt “bombarded by content, overwhelmed by choice, and frustrated by the amount of effort they need to put in to making decisions.”
The combined impact of increased conversions, reduced cart abandonment, lower returns, and helping customers to successfully navigate choice directly contributes to improved revenue and reduced costs, positively impacting the bottom line.
A Customer-Centric Approach to AI:
Arundel Advisers’ AI shopping agent stands apart by prioritising the human element of online shopping. Instead of replacing human interaction, the AI enhances it, providing personalised assistance and building genuine connections with customers.
“We believe technology should empower the customer” said Derrick Keating, Associate Partner at Arundel Advisers.
“Our AI shopping agent is designed to make online shopping more intuitive, enjoyable, and efficient for both consumers and retailers. The benefits speak for themselves – a significantly enhanced customer experience leading to improved conversions, reduced returns, and improved EBITDA” said Thomas Wainwright, Head of AI at Arundel Advisers.
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