Info-tech

Fashion retailers ring in up to a quarter of revenues with FashionDx’s AI-based digital retail solution

TE Raja Simhan | Updated on September 02, 2020 Published on September 02, 2020

Mayaa.ai’s power lies in the fusion of AI stylist, intelligent targeting, hyper-local WhatsApp communication

At a time when fashion retailers are finding it difficult to attract customers to their shops due to the Covid-19 pandemic, a Chennai-based start-up — FashionDx — has come out with a solution to help retailers generate up to 25 per cent of the store's revenue from WhatsApp-based selection of merchandise using Artificial Intelligence (AI)-guided digital commerce (Maaya.ai).

Fashion majors Indian Terrain of Chennai, and Celio have employed the new model on a trial basis to see their conversion rate and revenue increase, even while walk-ins are at all-time lows. Recommendations are sent over WhatsApp, actual fulfilment and payment is done outside of Maaya.ai, said Tanushree Jana, Founder and CEO, FashionDx, which was part of the virtual incubator at IIIT-Hyderabad.

Mayaa.ai’s power lies in the fusion of AI stylist, intelligent targeting, and hyper-local WhatsApp communication. The digital store first determines which loyalty customers are likely to buy based on purchase history. Next, the AI stylist recommends apparel and accessories based on the customer’s physical profile (like body type and complexion), and preferences. Sales representatives then use this information to talk to the customer and enable selection of merchandise over WhatsApp.

Despite lack of in-store footfalls, Indian Terrain gained 25 per cent revenue in the best one week, attributed to Mayaa.ai, she told BusinessLine.

Indian Terrain and Celio employed this model to see their conversion rate and revenue increase.

Mayaa.ai is currently on trial by Celio and is all set for an all-India commercial roll-out with Indian Terrain in September, for both WhatsApp as a communication channel and in-store.

Charath Narasimhan, CEO, Indian Terrain, said Maaya.ai is a thoughtfully designed, 360-degree, digital retail solution for both front and back-end. “The solution is future-ready because we continue to need new ways of doing business beyond the pandemic. In one store in Hyderabad, nearly 10 per cent of the store’s total revenue during a month was attributed to the WhatsApp-based sale,” he added.

According to Abhishek Shetty, CMO, Celio, the AI stylist is helping loyalty customers make better, faster decisions and the digital store is in line with consumer preferences in terms of mode of communication.

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Published on September 02, 2020
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