Increasingly: Company Research Report
Company Overview
Name:
Increasingly
Mission of the Company:
Increasingly helps retailers drive basket revenue and achieve happier customers by focusing on completion of shopping experiences through product bundling. The company is committed to enhancing consumer convenience by enabling customers to discover and purchase entire packages (such as collections or regimes) rather than individual items.
Founded:
Founded in 2016
Founders:
Sri Sharma and Satish Jayakumar
Key People:
- Sri Sharma - Co-founder & CEO
- Background in digital marketing and ecommerce with a strong foundation in AI, educated at Singularity University, NASA.
- Alastair Kidner - Customer Success Director
- Extensive experience in digital marketing and customer management.
- Shreehari Padaki - VP - Algorithms & Optimisation
- Expertise in algorithm design, computer science, and machine learning.
Headquarters:
No information is available
Number of Employees:
No information is available
Revenue:
No information is available
Known For:
Increasingly is renowned for its AI-driven product bundling technology designed to boost average order value and enhance the customer purchase experience by offering related product bundles both online and in-store.
Products
Overview of Products Offered:
1. Increasingly AI:
- An integrated platform managing Average Order Value (AOV) boosting strategies with AI-driven insights and product bundling capabilities.
2. Product Bundling:
- A tool that suggests frequently bought together items, aiming to increase AOV by allowing customers to complete a purchase with related items in a single click.
3. Dynamic Recommendations:
- Automatically adjusts between displaying bundles and individual product recommendations based on predicted revenue outcomes.
4. Product Collections:
- Features designed to showcase themed product collections during various stages of the customer's shopping journey.
5. Google Shopping Bundling:
- An innovative solution to automate product bundle ads within Google Merchant Center to enhance shopping visibility and engagement.
Key Product Features:
- AI Models:
- Utilizes Neural Networks, Natural Language Processing, and Computer Vision to analyze consumer data and enhance product suggestions.
- Bundle Index™:
- Proprietary database offering extensive categorizations for logical and effective product bundling.
- Customization Capabilities:
- Bespoke rules enable businesses to tailor bundles according to specific merchandising strategies.
- Clear Analytics & Reporting:
- Insights and regular reports powered by Google Data Studio to track performance and outcomes.
Recent Developments
Acquisitions:
- Searchspring Acquisition (September 13, 2023):
- Increasingly was acquired by Searchspring, a leader in on-site search and e-commerce personalization. This acquisition aims to enhance cross-selling strategies for merchants and merge Increasingly’s AI platform with Searchspring's robust foundation of search, merchandising, and personalization.
New Features and Products:
- Google Shopping Bundling enhancement:
- Improved visibility and ROI on Google search results by automating bundled product advertisements, increasing Average Order Value (AOV) while reducing competitors' visibility.
Partnerships:
- No information is available on new partnerships.
Other Noteworthy Developments:
- Recent growth efforts, backed by strategic investments from equity firm PSG, are aimed at expanding product offerings and the company's market presence both in North America and globally.
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This report highlights Increasingly's focus on leveraging AI technology for improving retail efficiency and customer satisfaction via product bundling. The company continues to expand its capabilities and geographical footprint through strategic acquisitions and product innovations.
