Luxury gets personal
To optimize every aspect of the luxury buying experience, LVR turned to Dynamic Yield after a history of heartbreak with personalization providers.
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15%
ARPU increase from personalized add to cart recommendations
14%
ARPU boost due to optimizing recommendation strategies on thank you page
6%
APRU increase from targeted urgency messaging
Introduction
Whether you feel your best in Gucci, Burberry or Dolce and Gabbana, Florence-based LUISAVIAROMA (LVR) offers the pinnacle of high fashion available online. To optimize every aspect of the luxury buying experience, LVR turned to Dynamic Yield after a history of heartbreak with personalization providers. Combining powerful machine learning algorithms with flexible merchandising rules, LVR achieved significant increases in revenue per user across several use cases, adding millions of dollars in top-line revenue.
“Serving the right content to the right user is table stakes in eCommerce now, particularly for luxury fashion retailers, where the cost per acquisition is getting higher and higher. With Dynamic Yield, we can just keep testing and testing to craft experience that delight our customers and significantly increase revenue.”
Nicola Antonelli, Web Project Manager
The Challenge
- Help luxury shoppers find the perfect look in as few clicks as possible
- Increase customer retention and revenue from each visitor to the website
- Optimize every pixel throughout each step of the customer funnel
- Provide both machine learning powered recommendations and flexible merchandising rules.
That’s when the Italian fashion titan turned
to Dynamic Yield.
Execution
Served personalized add-to-cart recommendations to increase order value
To upsell and cross-sell at the point of purchase,
LVR created unique recommendation experiences across countries and audience segments. While the company started by simply testing different strategies, eventually they added merchandising rules to create a truly 1:1 experience, leading to a 15% boost in average revenue per user.
Optimized recommendation
strategies on the thank you page
strategies on the thank you page
Recommendation widgets are the highest grossing real estate on the digital block,
making it paramount to deploy recommendations on as many pages as possible.
By continually testing recommendation strategies across the thank you page, LVR helped users serendipitously discover more products or accessories to pull off the perfect look.
To further boost performance of this recommendation widget, Dynamic Yield identified opportunities to increase revenue by identifying audiences likely to prefer a less popular variation. In this case, showcasing most popular products was often the best strategy while personalized recommendations performed best for users who viewed 10 or more product pages.
Overall, the constant experimentation paid off to the tune of a 14% increase in average revenue per user.
To further boost performance of this recommendation widget, Dynamic Yield identified opportunities to increase revenue by identifying audiences likely to prefer a less popular variation. In this case, showcasing most popular products was often the best strategy while personalized recommendations performed best for users who viewed 10 or more product pages.
Overall, the constant experimentation paid off to the tune of a 14% increase in average revenue per user.
Deployed urgency messaging across cart pages
Capitalizing on the power of FOMO (fear of missing out), LVR added low in stock messaging for popular items that were running out of stock. In nearly all markets,
the message increased CTR, and revenue per session powering a 6% increase in average revenue per user from the cart page.
The Key Takeaway
The Age of Individualization
in Luxury Has Arrived.
A longtime core tenet of eCommerce titans such as Amazon, personalization is becoming increasingly essential to success in high fashion. Fashion is moving faster than ever, while luxury buyers demand experiences that feel specifically curated to their interests and idiosyncrasies. While one-size fits all experiences may suffice when selling Fruit of the Loom, consumers expect a higher standard of online service as they shop for Oscar de la Renta.
In partnership with Dynamic Yield, LVR continues to set the standard for personalization in luxury fashion solidifying its place as the technology leader in the industry.
In partnership with Dynamic Yield, LVR continues to set the standard for personalization in luxury fashion solidifying its place as the technology leader in the industry.
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