- To prevent retailers from losing sales due to poor search results, Google introduces a retailer finder to provide customers with more accurate search results when shopping online, Srikanth Belwadi, chief product officer of Google Cloud Group, said in a blog post on Wednesday.
- According to the announcement, the tool is equipped with advanced query understanding to give shoppers better search results and semantic search to match product features with website content for discovery. The search tool optimizes results by leveraging user interaction and ranking patterns and also includes privacy practices that protect retailer data with access controls.
- Among the brands that have tested Retail Search are Lowe’s, Fnac Darty and Casas Pernambucanas. So far, businesses that have tried the feature have seen increased sales conversions, larger cart sizes, and better customer engagement. Belwadi noted.
Overview of the dive:
Google created the Retail Search feature to address inadequate searches that lead to cart abandonment on e-commerce sites. The tech giant conducted a survey with the Harris Poll indicating that 94% of US consumers abandon a shopping session due to inaccurate search results. The company also said retailers are losing $300 billion in sales annually due to search abandonment in the United States.
“Today, people expect search engines to better understand their intent, return relevant results faster, and help them easily discover new products through personalized recommendations,” Belwadi written in the ad. “Now, thanks to the power of Retail Search, when a shopper searches for ‘long black dress with short sleeves and a comfortable fit’ on an e-commerce site, they should immediately get results for precisely that, rather than narrowing down its research several times. , or worse, give up on their shopping journey.”
Neelima Sharma, senior vice president of technology. e-commerce, marketing and merchandising at Lowe’s, said in a statement that since partnering with Google, the home improvement retailer has seen an increase in search conversion, a drop in its no-results rate, a increased click-through rate and improved search results for long-tail searches.
In addition to Retail Search, Google has released other tools to help retailers with their e-commerce technology and facilitate the shopping experience for customers. Last May, the company expanded its partnership with Shopify, allowing sellers to easily showcase their products to customers on its mobile browsing tools. It also released a Shopping Graph tool, which tracks products, merchants, brands, reviews, and inventory information using artificial intelligence. In September, the company introduces Google Lenswhich allows shoppers to search and make purchases using images and videos on a given web page.
The COVID-19 pandemic has accelerated e-commerce spending, but research suggests consumers are still turning to stores for the majority of their purchases. A Forrester 2021 Report predicts that 72% of retail will occur in physical stores in 2024. Yet e-commerce grew 30% in 2020, the strongest growth since 2002, according to Forrester.