For anyone left wondering why millennials and their shopping habits so often turn up in conversation, consider this number: $600 billion. That’s how much millennials spend annually shopping in the US.
Marketers, retailers, brands all want to understand and harness this purchasing power, which has led to the creation of many myths surrounding millennial shopping.
Solebrity, a data science startup that specializes in applying machine learning and artificial intelligence to the world of e-commerce, is already well on the way to putting the fiction to rest and helping businesses successfully engage with these coveted millennial shoppers.
Solebrity’s consumer-facing app is a social shopping app that rewards shoppers for their unique style and recommendations when they share products. It’s all about making you a “social celebrity.” The more you use it, the smarter and more personalized it becomes.
A highly accurate machine learning algorithm powers Solebrity’s ability to personalize shopping recommendations based on each user’s unique shopping habits, preferences, and budget. The AI-based technology makes it possible to offer the right products at the right time at the right price and with a 70% relevancy to the individual user’s needs.
Users are rewarded with half of the earned revenue from a sale whenever a follower purchases an item based on a recommendation.
“Social influencers have already begun changing the way that people, particularly millennials, shop,” says Solebrity CEO and Co-Founder AJ Jaghori. “With Solebrity, we’re able to help brands and retailers stay on the forefront of this massive trend with a seamless, powerful solution that instantly connects them with their customers on a fundamentally more personalized level through the power of deep learning.”
Partner brands have reported an average of 25% conversions on product sales, fueling Solebrity’s rise from having just 5 brands on the platform when it launched in January 2015 to offering over 11,000 brands representing 8 million products, including major names like Nike, Forever 21, Ray Ban, Chanel, Urban Outfitters, Michael Kors, Gucci.
A few more impressive numbers: Solebrity now boasts nearly 100,000 users with around 5,000 downloads per week and over 250,000 user product recommendations. And the company is only just beginning. Recently they released Solebrity Analytics, which makes their data-gathering technology accessible to all businesses.
The Solebrity mobile app is available for download in both the App Store and Google Play. Learn more about the app and company at solebrity.me.