Lucidworks Digital Commerce Customers Double Cyber Five Results in 2020
From Thanksgiving through Cyber Monday, brands that rely on Lucidworks Fusion to power their ecommerce sites experienced record-breaking revenue and order numbers
SAN FRANCISCO, Dec. 07, 2020 (GLOBE NEWSWIRE) -- Lucidworks, a leading provider of machine learning-based ecommerce search and personalization technology, today announced Cyber Five results from its collection of enterprise retail and direct-to-consumer brands. Over the five days spanning Thanksgiving through Cyber Monday, many Lucidworks Fusion customers saw high double-digit to low triple-digit growth in ecommerce revenue tied to performance in search and browse as well as landing page sorts, typeahead, and personalized recommendations.
2020 Cyber Five Highlights:
· Nearly one billion queries across cloud-managed customers, with millions of unique terms
· Low double-digit increases in conversion rates versus 2019
· Near one hundred percent increase in conversion rates versus the previous six weeks
· Search usage during Cyber Five roughly doubled versus the 2020 baseline as customers used search features to seek out product deals
· 100% uptime for cloud-managed customers“We’re proud to be a part of our customer’s holiday shopping season success,” said Peter Curran, General Manager for Digital Commerce, Lucidworks. “This time of year is mission critical for enterprise retail and direct-to-consumer brands and we’re elated to see this year’s traffic and revenue over Cyber Five double from last year.”
Another insight from this year's Cyber Five was the role that Lucidworks Fusion vector search capabilities played in search processing. Vector search uses deep learning to find product matches on high-intent-to-purchase, long-tail searches. Vector search alleviates business user toil by finding products without keyword matching or synonym entry. This means that shoppers find and purchase products even if they’re using different vocabulary, asking for brands that are not carried, products that have been superseded, or hunting for scarce items. During Cyber Five, vector search was utilized for about 14% of total query volume.
“The results show that Fusion’s ML-based findability and personalization capabilities played an important role in driving sales,” said Curran. “It’s been a mixed year for retail, but our customers’ success during this time and over the course of 2020 is proof of ROI for omnichannel personalization technology.”
Download this ebook to read more about how personalization drives revenue, request a demo of our vector search technology, and contact Lucidworks today to learn how the Connected Experience Cloud delivers omnichannel personalization year-round for some of the world’s biggest brands.
*About Lucidworks*
Lucidworks offers the Connected Experience Cloud (CXC) that captures user signals from every action and applies them to omnichannel digital experiences everywhere. CXC combines the power of search and machine learning to personalize experiences that meet employees' and customers' unique intent. The world’s largest brands, including Lenovo, Morgan Stanley, SAS, Reddit, and Cisco Systems rely on Lucidworks’ suite of products to power product discovery, customer service, and knowledge management applications that delight customers and empower employees. Lucidworks’ investors include Francisco Partners, Sixth Street Partners, Top Tier Capital Partners, Shasta Ventures, Granite Ventures, and Walden International. Learn more at Lucidworks.com.
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Joel Richman
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