Amazon may be far, far ahead in the race towards all-time ecommerce glory, but Walmart is leveraging some powerful technology to cut into its lead - namely on-site search.
Walmart's Labs project/division unveiled a new search engine for Walmart.com which uses semantic search technology, enabling the retailer to anticipate the intent of a shopper's search and deliver more relevant results. Going by the name Polaris, Walmart.com has already seen an (approximate) 10-15 percent increase in shoppers completing a purchase after searching using the new search facility.
"Search is a crown jewel for any ecommerce company to own," said Neil Ashe, president and CEO of Walmart Global ecommerce. "Today's announcement underscores our commitment to owning technology that is fundamental in giving our millions of customers anytime, anywhere access to the products they want at the lowest prices."
Polaris is based on the Social Genome project, a platform that "connects people to places, events and products giving Walmart a richer level of understanding about customers and products" according to the announcement at Walmart Labs. The new Polaris search engine at Walmart uses advanced algorithms including query understanding and synonym mining to determine user intent when delivering results.
"With Polaris, we are giving users the ability to connect with the items they want but also surface items based on their interests and likely intent," said Sri Subramaniam, vice president for @WalmartLabs and head of the Polaris initiative. "This is the start of what we imagine search to be as we continue to deliver products to accelerate Walmart's global ecommerce efforts."
As the Editor-in-Chief of Website Magazine and President of Website Services, Peter has established himself as a prominent figure in the digital marketing industry. With a wealth of experience and knowledge, Peter has been a driving force in shaping the landscape of digital marketing. His leadership in creating innovative and targeted marketing campaigns has helped numerous businesses achieve their revenue growth goals. Under his direction, Website Magazine has become a trusted source of information and insights for digital marketers worldwide. As President of Website Services, Peter oversees a team of talented professionals who specialize in SEO/SEM, email marketing, social media, and digital advertising. Through his hands-on approach, he ensures that his team delivers exceptional results to their clients. With a passion for digital marketing, Peter is committed to staying up-to-date with the latest industry trends and technologies, making him a sought-after thought leader in the field.