Artificial Intelligence is giving consumers yet another way to spend less on their apparel when they shop online.
Yroo, a meta-search shopping platform, has introduced a feature called Deal AI that pushes notifications to consumers when the prices of popular products, including apparel, decrease online. With this AI platform, Yroo can help shoppers locate product deals and provide them with more personalized purchasing journeys.
“The average consumer is exposed to thousands of ads every day and sifting through all the noise to identify true deals in the market is challenging. Prices can fluctuate significantly over time and advertised discounts are often not as attractive as they appear,” James Cunningham, Yroo’s CEO, said. “Deal AI empowers shoppers by informing them of unique, one-time buying opportunities on products that are relevant to them.”
Deal AI leverages Yroo’s AI technology and database to determine deals in the global e-commerce market. Consumers keen to join the service have access to more than 150 million products from more than 5,000 merchants that have partnered with Yroo to share data on their goods, including Amazon, Nordstrom and Target. To get alerts on deals, consumers can simply “favorite” the items they want to keep tabs on and get an alert when the price drops more than 10 percent.
With its price history data, Yroo compares the average prices of products to the lowest prices they find to ensure consumers are receiving the best deals when they shop online. Deal AI then sends personalized daily notifications to consumers about buying opportunities, which retailers are offering deals and the true discount from typical prices.
The aim, for Yroo, is to connect consumers with the merchants that can best suit their product needs, while providing merchants with insights about consumer shopping behavior, plus data on how the products they’re promoting are performing.
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According to Yroo, the beta version of Deal AI was popular with consumers who appreciate the opportunity to take advantage of price discounts while shopping online. The company said its merchant partners have also benefited from the click-through traffic yielded by Deal AI, which enables merchants to analyze which products are best sellers and how consumers are engaging with those products.
Yroo’s update follows other industry-related retail technology developments, as companies leverage AI, RFID and voice technology to improve consumer experiences.
Checkpoint Systems, an RFID and electronic article surveillance technology firm, developed an InterACT suite of solutions designed to help retailers elevate consumer engagement activity and sales. Leveraging product data collected via RFID-tagged merchandise and touchscreen devices that show product information, InterACT enables consumers to learn about a product’s fabric type, country of origin and care instructions.
Voice and natural language processing (NLP) technology has also garnered interest from industry members looking to ramp up consumer experiences. Tech giants, including Amazon and Google, have rolled out voice technology assistants, so consumers can seamlessly buy essential items from their homes. Last year, Walmart also enabled voice shopping for its consumers by collaborating with Google Express. Walmart shoppers who have linked their Walmart accounts with the Google service can use voice commands to add items to their carts and place reorders.