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Miros, a visual AI eCommerce solution provider, has unveiled a suite of features set to redefine the online shopping experience. The company's new innovations aim to address common challenges faced by online shoppers and retailers, enhancing the overall user experience.
Traditional online retail experiences often leave consumers overwhelmed by the sheer number of products and the necessity to use keywords for searches. According to Miros, 80% of shoppers struggle to describe what they are looking for with keywords, resulting in frustration and unfulfilled shopping experiences. To combat this, Miros has introduced its Tagless Discovery Engine, an AI-driven technology that analyzes product images to deliver personalized product recommendations without the need for traditional tags.
The Tagless Discovery Engine is part of Miros' new suite of features designed to provide a more intuitive shopping journey. Wordless Search enables users to find desired items in under 60 seconds without using keywords. The Discovery Bar offers real-time product suggestions based on browsing behaviour, while the Find by Image feature allows users to upload an image to find similar products. Additionally, Shop the Look provides complete outfit recommendations, and the Recommended Items feature showcases similar styles across product pages, encouraging increased basket sizes.
These new features have already shown impressive results. A case study indicated a 19% increase in Gross Merchandise Value (GMV), an 11% rise in Average Order Value (AOV), and a 10% boost in Average Revenue Per User (ARPU). Retailers like Ravensburger have experienced a remarkable 4.8-fold increase in conversion rates.
Miros CEO and co-founder Heikki Haldre stated that the new enhancements are set to elevate the shopping experience and redefine digital retail operations. Haldre highlighted that the solutions not only enhance user experience but also help retailers boost sales and reduce cart abandonment rates.
One of Miros' new clients, Ideas, the retail and apparel giant from Pakistan, has welcomed the innovative features. Ali Azeem, Manager of E-Commerce at Ideas, explained how Miros is addressing previous challenges in navigating extensive product lines and overcoming issues such as out-of-stock recommendations, thereby significantly improving the shopping experience and conversion rates.
Founded in 2019 by Heikki Haldre, Diana Saarva, and Paul Pallin, Miros brings together expertise from leading companies such as Rakuten, Zalando, and Bolt. The team has collaborated with the European computer vision AI research institution, iCV Lab, to create their award-winning eCommerce solution. The company has garnered recognition, including the Best AI Product in Retail at the 2023 CogX Awards and the 2024 Business Intelligence Group AI Award.
