Depot Selects RichRelevance to Leverage The Power of Personalization
Leading decoration and furnishing specialist personalizes its online shop with product recommendations from RichRelevance
Munich – 20.11.2014 – RichRelevance, the global leader in omnichannel personalization, today announced that leading decoration and furnishing specialist DEPOT has implemented the personalization solution RichRecs in its online stores, which currently offer approximately 7,000 products. Apart from decorative items, these include products ranging from bath and spa, kitchen and furniture to home furnishings. DEPOT is part of Gries Deco, which owns and operates more than 400 stores in Germany, Austria and Switzerland, achieving an annual turnover of 408 billion euros in 2013.
Because the online store within Gries Deco is set up as a profit center, Martina Novotny, Division Manager of eCommerce/Multi-Channel-Retail, decided to implement recommendation software in order to meet targets for revenue growth in turnover. With its strong focus on retail stores, the online store functions as an internal startup and the decision makers at DEPOT sought professional personalization provider RichRelevance to achieve their goals.
RichRecs deliver the right recommendations to the right consumer at the right time
The DEPOT website uses the RichRecs solution for personalized product recommendations. This SaaS-based solution is designed especially for retailers and is based on the enRICH personalization engine, which collects, analyzes and evaluates all data based on the customer’s real-time click history. Leveraging over 125 algorithms, the enRICH engine is able to respond to altered user behavior to offer the right recommendation to the right customer at the right time, while simultaneously considering the behavior and interests of similar visitors.
Personalization’s role in DEPOT’s business growth
DEPOT hopes to achieve sales growth of up to 15 percent over the long term through its use of RichRecs. The solution—currently implemented in Germany, Austria and Switzerland—is not only used for recommendations in the online store; information generated is also used to create microsites, individual newsletters and personalized banners that cater to the individual shopper’s interest.
“We investigated several providers in the market, but finally decided to choose RichRelevance based on their industry expertise and the fact that they had the best price-performance ratio,” says Novoty. “Furthermore, RichRelevance offers much better personalization algorithms compared to our previous solution, as the company is specialized solely in personalization and innovates its solutions on an ongoing basis.”
Theo Khoja, Regional Director DACH at RichRelevance, says: “Small and mid-sized retailers increasingly face tough competition against big players like Amazon. We are dedicated to offering retailers a scalable and professional personalization solution with a superior price-performance ratio, so that they can increase their online sales in the face of ongoing competition. That’s why we are really pleased to partner with DEPOT as it drives its business objectives through a superior personalization experience on its online shops.”