Grow revenue with data-driven search & discovery [8 tips] | Algolia

In the face of a lingering recession, retail businesses can leverage AI and data-driven approaches to improve their bottom line. One such approach is using a data-driven site search and discovery tool like Algolia, which automatically re-ranks items every 24 hours based on user interactions and other positive signals. This dynamic re-ranking helps push the best items to the top of search results, increasing sales and revenue. Custom Ranking can be used to boost high-margin items further, while long-tail keywords and phrases can be optimized using AI-powered hybrid search engines. Personalization is another key strategy, with companies that personalize their sites reporting a $20 return for every $1 spent. By connecting Algolia with backend systems like inventory management or returns tracking, retailers can minimize the likelihood of returning products being displayed in results and create data-driven merchandising rules to promote specific items during sales periods. A/B split testing can help determine which combination of changes leads to the best results. Overall, a data-driven approach can unlock revenue potential in every customer interaction, even during challenging economic times.