Leveraging AI, electronics chain boosts sales conversion by 15 per cent

(Source: Yedda)

Within just four months, an electronics store chain saw a significant leap in its sales conversion rates, thanks to the implementation of Yedda.ai’s advanced AI monitoring system.

By optimising customer service, the company not only met but exceeded its challenging objectives, achieving a 15 per cent increase in conversion rates over the past three years. This is the story of how cutting-edge AI technology revolutionised customer service and drove impressive sales growth.

Back to the story of three years ago….

The challenge: Turning visitors into buyers

Three years ago, the electronics store chain faced a pressing challenge: a low conversion rate. Despite attracting a steady stream of visitors, the company struggled to turn these visitors into buyers. Customer dissatisfaction and inadequate service were major obstacles, leading to missed sales opportunities and a reduced reputation. The company needed a robust solution to enhance the shopping experience and streamline service delivery.

The solution: Yedda.ai’s intelligence augmentation

Integrate Yedda.ai, an intelligence augmentation-driven platform, particularly for electronics stores, designed to optimise sales and customer service. The focus was on real-time monitoring and analytics of customer service performance. Key features of Yedda’s implementation included:

  • Measurement of service to customers: Yedda.ai ensured that customers were well-served according to the company’s standard operating procedures, identifying areas for improvement and implementing effective solutions.
  • Real-time access for floor managers: The platform provided real-time data on customer service metrics, enabling floor managers to swiftly respond to service bottlenecks and ensure timely assistance.

The transformation: From analysis to implementation

The journey began with a thorough analysis of the existing customer service processes. Yedda’s team collaborated closely with the store’s management to tailor the solution to their specific needs and key performance indicators (KPIs). The transformation was swift and remarkable. Within just four months, the stores improved from servicing 32.5 per cent of customers within 30 seconds to an impressive 97.9 per cent. This rapid enhancement highlighted the effectiveness of Yedda’s AI-driven approach.

Over the next few years, the store chain not only maintained these high standards but slightly improved them, achieving service rates of over 98 per cent over the years. This consistent performance ensured that customers received prompt and efficient service, directly impacting the store’s conversion rate.

Impressive results: A 15 per cent boost in conversion rates

Enhanced customer service translated into tangible business results. The conversion rate, defined as the ratio of sales to sales opportunities, saw a steady increase. It rose from 30.6 per cent in year one to 35.2 per cent in year three. Overall, the store chain experienced a 15 per cent increase in conversion rates over three years. 

Looking ahead

The success of this electronics store chain exemplifies how innovative technology, combined with a dedicated team, can drive substantial business performance improvements. It also serves as a compelling case study for other businesses looking to leverage AI for performance improvement. As the retail landscape becomes increasingly competitive, innovative solutions like Yedda.ai offer a strategic advantage, ensuring that companies can meet customer expectations and achieve their business goals.

Amir Kremer, former CEO at Goiko Spain and Domino’s Pizza Chile, effectively summarises Yedda’s impact: “Yedda is one of the most promising innovations out there that can dramatically improve sales and cost control via AI. Yedda has an incredibly dedicated team that is assisting the specific needs of each customer and catering to desired KPIs with astonishing results.”

Yedda.ai’s superior technology, combining AI with human cognition, uses existing CCTV infrastructure to provide a wide range of measurements. This approach addresses key business priorities such as reducing costs, driving sales, enhancing customer experience, and improving employee compliance.

Yedda.ai has helped more than 30 large organisations across different industries including F&B, retail, manufacturing, logistics and distribution centres resolve their pain points, demonstrating the scalability and versatility of its solution.