How are you tracking checkouts from your e-commerce cart or platform? Do you always know what has caused your customers to abandon their carts? Can AI help you track product checkouts? Today’s story shows how Outlier quickly helped a global luxury jewelry retailer track retail product checkout changes and make sure that those incidents were not being caused by unforeseen events.
Online retailers need to use data effectively to track abandoned carts. With thousands of transactions occurring daily quickly, nailing down causes for decreases can seem impossible, but critical to maintain online revenue. Using Outlier’s Automated Business Analysis, a global luxury jewelry retailer found an overall drop in product checkouts.
How Outlier Tracks Retail Product Checkouts
From the story above, the online retailer saw a day-over-day decrease of 55% in product checkouts, representing a value 21% lower than expected by the model. This insight impacted the entirety of Product Revenue. Outlier helped the customer discover that the drop was caused by the end of campaigns/promotions in two specific countries, saving them time and effort digging for potential causes.
You can identify meaningful trends in your data with Outlier, an automated business analysis platform, and save hours, days or weeks of time in deep data analysis. Outlier empowers online retailers to identify unexpected changes in customer behavior to identify product checkouts. To see how Outlier’s AI tracks retail product checkouts, sign up for a custom demo.