Searchspring, a global frontrunner in on-site search, product merchandising, and ecommerce personalisation, has announced the acquisition of Increasingly, a UK-based artificial intelligence (AI) product-bundling platform. With this merger, Searchspring aims to bolster cross-selling strategies for merchants by personalising the path to purchase and delivering superior shopping experiences that increase the average order value (AOV).
Increasingly's key strength lies in its AI product bundling feature, which shows products that are frequently bought together, allowing users to swiftly add multiple items to their shopping cart with one click. Recognising the advantage of this technology, Google Shopping includes product bundles from Increasingly in their search results. This feature has been instrumental in enhancing retailers' revenue, online visibility and customer conversion rates.
Alex Kombos, CEO of Searchspring shared his enthusiasm on the acquisition. "We are excited to welcome the talented team from Increasingly to our portfolio of ecommerce tools. This acquisition is an important step towards expanding Searchspring's impact on online retailers and brands to grow their revenue". Kombos explained further, indicating that with the fusion of Increasingly's AI technology with Searchsprings' search, merchandising, and personalisation tools, consumers would be guided to the right products at the right time, based on a balance of data-driven shopper intent and personalised product recommendations.
This acquisition marks the start of a series of product innovations and market expansion initiatives for Searchspring, now bolstered by Increasingly's technology. The move expands Searchspring's global footprint beyond North America and APAC into Europe and EMEA, bringing in an impressive list of clients that includes brands like Samsung, US Polo, Head, Wickes and Sephora.
Sri Sharma, CEO and co-founder of Increasingly, said "By joining forces with Searchspring, we believe that we can accelerate the development and expansion of our products and services.” Echoing this sentiment, the COO and co-founder of Increasingly, Satish Jayakumar, added "We are confident that this partnership will enable us to stay at the forefront of the rapidly evolving e-commerce industry and deliver even more value with our combined offering".
The acquisition followed a strategic growth investment from leading growth equity firm PSG and several new executive hires this year. This move will further strengthen Searchspring's reputation as the leading global ecommerce search and personalisation platform that empowers merchants in providing unique product discovery and shopping experiences. Meanwhile, Increasingly will continue to support retailers in boosting basket revenue and customer satisfaction with its AI-driven product bundles.