According to Accenture statistics, AI will boost profitability by 38% and generate $14 trillion of additional revenue by 2035. Using product recommendations gives approx. 500% higher conversions compared to the generic offer. There are not many credible sources describing how the various recommendation engines work and which algorithms are more effective, hence we chose to compare them, including non-AI and AI-based offers to find out which one is the most efficient.
Types and examples of product recommendations
Product recommendation engines are systems that enable displaying personalized, compliant with each client’s product information to increase conversion rate and sales. Recommendations can be displayed in a variety of ways such as landing pages, e-mail notifications, or web push. We can distinguish 3 types of product recommendations:
Product-based – Recommendations depend on the product attrib… Read More