The Future of Retail is Intelligent
PayPal has announced the acquisition of Jetlore, an AI-powered prediction platform for retailers.Jetlore's machine learning system enables brands including Uniqlo and Nordstrom Rack (among others) to deliver personalized customer experiences to increase their sales and customer loyalty.
The AI technology will be integrated within PayPal Marketing Solutions, adding new capabitlities for those merchants looking beyond the digital checkout experience.
The startup’s predictive technology analyzes “billions” of customer data points and product data, including apparel attributes like sizes, color, fit, and style preferences, as well as brands and preferred materials, which inform its customer targeting products.
Jetlore’s Predictive Layouts feature, for example, allows marketing teams to target certain groups of customers with distinct email, homepage, and in-app experiences, learning customer preferences from their interactions over time and dynamically adapting and populating content where users are most likely to see it.
Jetlore claims that Predictive Layouts can generate between 60 and 70 percent more revenue per email or pageview and reduce customer churn by 12 percent.