Mastercard has announced that Michael Kors is its first retail partner to use the Shopping Muse, the artificial intelligence-powered shopping assistant by Dynamic Yield, a Mastercard company.
With a busy summer travel and wedding season upcoming, the partnership will now enable customers to use the AI assistant to find the perfect outfit and accessories for any occasion.
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Shopping Muse was launched by Dynamic Yield in November 2023, where it was given early access to fashion retailers including Michael Kors; furniture retailers will now also be able to use the AI assistant. The shopping assistant helps recreate an in-store experience by translating colloquial language consumers use to make tailored product recommendations — and suggests coordinating products and accessories.
Shopping Muse can identify trending phrases and aesthetics and respond to direct queries broad and specific alike such as “find me cottage core dresses,” “find me accessories for a day at the beach” or “I’m looking for a summer wedding dress to wear in Charleston with a cocktail dress code.” The consumer then will receive tailored recommendations that match the individual consumer’s profile, intent and affinity and create a personalized experience by building conversational context over time.
As previously reported by WWD, personalized product recommendations have been proven a key component to the modern shopper’s satisfaction and increase retailers’ revenues. Dynamic Yield found that in its initial testing, Shopping Muse generated a 15 to 20 percent higher conversion rate over traditional search queries.
As with its other products and services, Mastercard has embedded its privacy safeguards into Shopping Muse by adhering to the company’s responsible AI principles and standards to enhance shoppers’ experience while maintaining consumer privacy and security.
And Mastercard’s newly released Signals report titled “A Retail Renaissance: How Emerging Technologies and Experiences Are Shaping the Future of Commerce,” furthers this point by pointing to conversational technology as a key retail innovation attribute.
The reports’ authors looked at how conversational AI helps to enable retailers to have an ongoing and personalized dialogue between themselves and their consumers — before, after and during the point of sale. And moreover, with long-term loyalty harder to capture now more than ever before with retailers competing with consumers’ shorter attention spans, the AI-shopping assistant could be the solution.
“As a trailblazer in ready-to-wear fashion, Michael Kors is a perfect example of how to put our ready-to-use technology to use,” said Ori Bauer, chief executive officer of Dynamic Yield. “Shopping Muse is helping translate the signature Michael Kors service to the digital world, delivering a satisfying shopping experience as singular and impactful as the brand’s aesthetic.”
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