Microsoft presented two new retail tools at the National Retail Federation show, which took place in New York. Following the show, Microsoft released a blog post outlining the capabilities of the new tools. Overall, the tools could help retailers compete with the growing e-commerce industry.
The first of the retail tools is titled 'Microsoft PromoteIQ,' and it assists retailers in creating strategic partnerships that will push different products. The tool is powered by data taken from the internet, as well as other insights. Microsoft PromoteIQ has been tested with Home Depot, and the company found that customer engagement improved by 35%. During the test, Home Depot also experienced double-digit growth for products that were promoting using the new tool.
The second tool is titled 'Bing for Commerce,' and it uses AI technology to improve product searches, and offer more customized product recommendations. The tool was created to help retailers improve their search functions, which would enable consumers to find products faster.
Image Credit: Microsoft