Birdseye, an emerging force in AI-powered retail and e-commerce marketing, has launched new features in its autonomous email marketing platform that empower retailers to liquidate inventory using its one-click artificial intelligence (AI) solution. With the new capabilities, retailers and ecommerce merchants can use Birdseye for hands-off email marketing campaigns that reduce or liquidate stagnant or slow-moving inventory with discrete and hyper-personalized offers.
Birdseye’s state-of-the-art AI tools enable a profound understanding of the complex relationships between inventory trends, pricing strategies, turnover rates, and customer personas. The Birdseye engineering team has designed the most advanced model to analyze each customer, interpret the data, predict the approach most likely to deliver the greatest response, and then personalize and autonomously launch targeted campaigns to every customer. Additionally, the system continuously learns from real-time feedback to enhance its performance.
The new inventory liquidation features were added to the Birdseye email marketing platform based on the remarkable success achieved by merchants using Birdseye to deploy hyper-personalized emails to engage customers:
- Revenue per recipient increased by 340%
- Average open rate of 55%, a percentage growth of 54% over the industry average
- Clickthrough (CTR) rate of 13%, an average increase of 957%
- Click to open rate of 24%, an average increase of 1900%
- 15-20x return on investment
- Dramatic increase in attributed web traffic
These results achieved using the Birdseye platform are significantly higher than the retail industry averages for email campaigns according to Constant Contact data, which notes that as of April 2024, the average retail industry open rate is 35.65% while the average CTR is 1.23%.
“With our approach and technology, retailers and ecommerce merchants can liquidate merchandise much more efficiently, and they can generate additional revenue by effortlessly tapping into engaged customer audiences, with AI taking care of the rest,” said Matt Bogoroch, co-founder and CEO of Birdseye.
“Our AI strategy provides a significant advantage, enabling us to set new benchmarks for digital commerce and elevate the standard of customer engagement. Through these initiatives, we continue to lead the evolution of AI-powered e-commerce and retail marketing,” said Aaron Li, Head of Artificial Intelligence at Birdseye.
How Birdseye Enables More Profitable Inventory Liquidation
By way of example, retailers that want to quickly sell out their summer collections before the fall will typically offer and advertise large discount incentives to everyone, with the goal of encouraging customers to shop. Birdseye takes a different and highly targeted approach that not only preserves margin by reducing the discount, but also results in sales by pinpointing the exact customer and delivering marketing campaigns only to those likely to be interested in the products. This process uses AI to match shoppers to products based on their product preferences like size and color, willingness to pay, and any other relevant attributes.
As another example, if a sports apparel retailer has 300 units of a size XL tennis shirt in blue in inventory, Birdseye will automatically identify and engage customers that like tennis shirts, the color blue, and wear a size XL. The platform will distribute a campaign for this particular item, color, and size only to those targeted customers. With this functionality, retailers can be more focused on their communications with customers, providing engaging and personalized shopping experiences and offers that resonate and most importantly, convert.
“When retailers use our platform to reduce or liquidate inventory, it’s a win-win because the customer accesses personalized deals, while the brand can sell-through inventory at a more reasonable discount,” said Bogoroch. “Birdseye has achieved clickthrough rates of greater than 20% with retailers. This is happening because timely and personalized content resonates with customers and isn’t just noise in their inbox.”
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“Being able to send personalized offers and emails automatically, without the need for extra personnel on our staff, has been an incredibly cost-effective and lucrative addition to our business,” said Sharon Oved, Founder of L’ovedbaby.
“Like all merchants, we are always trying to optimize our inventory and sell more, faster – regardless of the economic climate,” said Rick Wittenbraker, VP of Business Development at Howler Brothers. “With Birdseye in their stack, marketers can now make discrete and pinpointed sales while protecting their brands. This is a game changer.”
“Drive continues to be excited to back one of the most innovative teams working in e-commerce AI today. The market is littered with half-baked features and products that do not deliver on their ROI promises. Birdseye does everything it promises and more,” said Masha Khusid, Partner at Drive Capital. “We’re looking forward to watching the impact the inventory product has in making the lives of merchants more profitable.”
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