Leading fashion streetwear and sportswear retailer, Footasylum, has seen a 28 percent increase in email revenue from hyper-personalised marketing communications as a result of working with artificial intelligence (AI) company, Peak.
Footasylum, which trades from over 65 high street stores across the UK and stocks leading brands, including Nike and Adidas, has been working with AI firm Peak to generate the significant uplift in revenue per email sent. Becoming an AI-driven retailer has also led to a 75 percent reduction in cost per social click during a recent trial.
With yearsâ worth of untapped customer data, Footasylum approached Peak to help identify ways to drive revenues and growth using AI. This focussed on a more personalised and targeted experience for shoppers.
âCustomers now expect high levels of personalisation at every single touchpoint.â Tom Makin, eCommerce and marketing director at Footasylum explained. âWith our product offering being so vast, delivering an experience relevant to each user is extremely challenging. However, Peak showed us how AI can be used to create a hyper-personalised experience for every single Footasylum customer and that this, in turn, leads to greater customer loyalty and growth.â
Since working with Peak, Footasylum has been able to deliver highly-targeted, hyper-personalised marketing communications across its customer base. This includes pushing relevant product recommendations, enticing those who are less-engaged with offers and provide customers with more of the products they are interested in.
Makin added: âWith a 28 percent uplift in revenue per email sent, weâre certainly seeing the benefits of being an AI-driven business. There are many more exciting opportunities on the horizon with Peak, including further inventory and social media growth through the power of AI.â
Richard Potter, CEO of Peak, said: âAll retailers and enterprises will need to put AI at the heart of their business in the future. Our research shows that retailers using AI are growing 30 percent faster than those who arenât and Footasylum is a great example of the positive impact the technology can can have. To truly become AI driven requires a new kind of business system. That is why weâve built the worldâs first enterprise AI System. On top of this we give our customers AI solutions designed to create value for their business, such as the hyper-personalisation solution deployed by Footasylum.â
The Peak AI System sits at the heart of a business’ operations, acting as a centralised, intelligent business system processing data from any source and enabling it to become AI-driven. The cloud-based system has been adopted by a number of leading UK retailers to power automated predictions, decisions and actions to improve a businessâ bottom line.