Michael Kors has become the inaugural retailer to implement Mastercard’s generative AI assistant, Shopping Muse, on its US website.
Launched late last year, Shopping Muse is an innovative tool developed by Dynamic Yield, a personalization platform that Mastercard acquired from McDonald’s. This AI assistant aims to replicate the in-store shopping experience by interpreting customers’ natural language and providing personalized product recommendations, including suggestions for complementary items and accessories.
According to Mastercard, this customized approach has the potential to enhance customer satisfaction and drive sales. Initial trials indicated that Shopping Muse achieved a conversion rate 15-20% higher than conventional search methods.
Ori Bauer, CEO of Dynamic Yield, remarked, “As a pioneer in ready-to-wear fashion, Michael Kors exemplifies the successful application of our advanced technology. Shopping Muse is effectively translating the distinctive service associated with the Michael Kors brand into the online sphere, ensuring that the digital shopping experience is as unique and impactful as the brand’s identity.”
For those interested in exploring the evolving role of artificial intelligence in the banking industry, consider attending Finextra’s inaugural NextGenAI conference on November 26, 2024. Register your interest here.