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Optimizing the Replenishment Model

Written by Dawn March | Jan 16, 2023 6:00:00 AM

Cloud-based commerce platform Kibo has announced the availability of enhanced personalization capabilities within its Real-Time Individualization solution, including Buy It Again and Real-Time Trending.

Kibo's new "Buy It Again" feature takes a different approach to replenishment ordering in that analyzes the purchase patterns of items in the seller's catalog to predict when a user may buy that item again. The feature essentially uses Kibo's machine learning capabilities instead of relying on the user to set the display frequency. 

Kibo has also released a "Real-Time Trending" feature that processes site activity in real-time and uncovers trending products and content to display to the consumer. This feature should be quite attractive to sites with high traffic, and particularly when it can be combined with geo-location as  merchandisers will be able to create dynamic experiences that resonate with the consumer based on what is trending in their area.

These new features will provide retailers and manufacturers the ability to produce the most relevant product suggestions for consumers at a time they are most likely to buy, further optimizing conversion and revenue growth. And it appears to be working. 

Kibo's Buy It Again feature, in particular appears to be providing some positive results - well above standard product recommendation features within its Real-Time Individualization solution. Customers using the Buy It Again feature are seeing 125 percent improvement on Directed Items Conversion (recommended items purchased), 51 percent improvement on Click Through Rates on Recommendations, and 51 percent improvement on Directed Order Conversion (orders including recommended items).

"As consumers, we've all had the annoying experience of continuously seeing product recommendations of items we just purchased," says Danielle Roberts, product manager - ecommerce and real-time individualization, Kibo.

"It's a waste of real estate for the merchant when they could be using that space to show something much more relevant that the consumer is more likely to buy. Kibo's Buy It Again feature is a machine learning algorithm that recommends items when consumers are most likely to buy them again. Our solution reduces customer friction and is less intrusive than forcing to select a replenishment cadence for products. Relevancy and timing are critical to optimize repurchase conversion, and we are seeing fantastic results for our early adopters."