How Wigzo by Shiprocket is Using Generative AI to Boost Sales for D2C Brands
Online jewellery brand GIVA recently saw an increase of 55% in its orders and a 775% growth in its subscriber base. Another online lifestyle brand Leaf saw a 128% increase in revenue. The same goes for FabIndia, Snitch, Daily Objects, Libas and others that saw their online sales grow multifold in the past few months. One company that is revolutionising the data experience for D2C brands, and other new-age digital companies, the likes of 4700 BC, Quiltcomfort, FabHotels and Happyfares, is Wigzo by Shiprocket. The company claims to use automated user segmentation to help D2C brands convert, retain, and grow consumers. Founded in 2014 by Umair Mohammed, Atyab Mohammad and Himanshu Kaushik, Wigzo by Shiprocket provides data driven solutions for leading D2C (e-commerce) brands, especially apparel and fashion brands, with main focus on customer retention and marketing. Earlier this year, Shiprocket acquired 75% stake in the company which is already backed by the likes of SEA Fund, Aarin Capital and more. Analytics India Magazine got in touch with Umair Mohammed, founder and chief executive officer, and Atyab Mohammad, chief technology officer, to understand how they are helping brands boost sales and profits. “We aim to enable retailers to achieve a remarkable tenfold increase in sales by equipping them with comprehensive automation and customer engagement solutions,” Umair told AIM. Atyab added, “We believe, consumer data is the gold mine that can be used to reduce spending on customer acquisition and can be leveraged to target the right consumers.” Read more: How Data Analytics Fuels Shiprocket Wigzo identifies active customers and enables conversions by providing tailored recommendations. The company is at the forefront of leveraging AI and advanced analytics to revolutionise customer journeys. By harnessing the power of AI, Wigzo is able to delve deep into consumer behavior, enabling businesses to generate predictive insights and deliver personalised experiences. Wigzo by Shiprocket recently unveiled their AI-powered customer data platform (CDP), integrating retail, website, and mobile app data. This unified hub allows brands to access and leverage customer information, creating actionable segments and gaining valuable insights. It aims to establish the largest and most comprehensive database, showcasing impressive technical capabilities. Read more: Prompt Engineering is the New C++ Generative AI to the Rescue “We are also working at providing a comprehensive chat solution using generative AI, which will enable brands to automate their routine tasks of solving customer queries, tracking inventory, and monitoring marketing trends,” said Atyab. The company claims to enhance the reliability of its platform with cutting edge tech solutions by partnering with big techs Google and AWS and are leveraging models like Cassandra, MongoDB, and BigQuery, which are all scalable in nature. It is also working towards building AI tools to improve brands’ social media presence and offers automation for marketing. It also integrates with third-party apps like Fastrr, Razorpay, and checkout engines. Wigzo by Shiprocket also uses AI-enabled sentiment analysis to cull out insights from user-generated content across social media platforms. “Our aim is to simplify merchants’ lives by seamlessly integrating AI into their workflows and providing daily value,” shared Umair at their annual D2C Verse event in Bengaluru, last month. The tech team is also working on implementing OpenAI’s APIs to build solutions around content generation and data search. Merchants can now easily create messages and ask analytics questions without manual analysis. Wigzo by Shiprocket has an array of interesting tech-related announcements coming up. One of them is that it is set to launch their versatile omnichannel chatbot platform to address a wide range of brand needs, ranging from customer support to personalised recommendations. In recent times, e-commerce platforms have been playing with generative AI in their day-to-day operations, particularly in the areas of customisation, design, marketing and improving the customer journey. Meesho, an online lifestyle company, is actively experimenting with generative AI across various applications like recommendation systems, enhancing product cataloguing with more visually appealing representations, and providing virtual try-on experiences. Tapestry, a luxury fashion brand, is strengthening its marketing strategies by harnessing the power of generative AI to automate personalised online experiences. Marks & Spencer is also closely following this trend. Following suit, Coca-Cola underwent a marketing transformation through generative AI, facilitated by the partnership between OpenAI and Bain & Co. Over time, the adoption rate of AI by D2C brands is only going to increase for the good. Read more: Indian Edtech, Why So Toxic?
With more than 300 users on board, the company uses automated user segmentation to help D2C brands convert, retain, and grow consumers
With more than 300 users on board, the company uses automated user segmentation to help D2C brands convert, retain, and grow consumers
["Interviews and Discussions"]
["OpenAI", "AI", "ML", "recommendation systems", "RAG", "Ray", "Aim", "prompt engineering", "generative AI", "analytics", "Interviews and Discussions"]
["AI", "ML", "analytics", "generative AI", "OpenAI", "Aim", "Ray", "RAG", "prompt engineering", "recommendation systems"]
Shritama (she/her) is a technology journalist at AIM who is passionate to explore generative AI with a special focus on big techs, database, healthcare, DE&amp;I, hiring in tech and more.