Formisimo Develops Analytics Platform To Help Retailers Grow Online Sales
Retail technology start-up Formisimo has developed an analytics platform to show retailers how to improve their online checkout process.
Formisimo uses patent-pending technology to store and analyse what consumers do within a website’s online forms, including the checkout page. This, the company says, helps to reveal the pain points for customers and provides a series of interactive reports, along with real-time data, on what customers are currently doing in online forms.
Joint winner of the Retail Week Innovation Campus Perfect Pitch competition in March, Formisimo recently announced it is working with Shop Direct to maximise the performance of its flagship website Very.co.uk and the newly-launched VeryExclusive.co.uk
The platform is the latest tool that Shop Direct has adopted to determine how customers engage with its websites, which include Very.co.uk and Littlewoods. The retailer was the first in the UK to build an in-house UX lab and is using it to test new technologies with customers and identify ways to personalise and enhance the online shopping experience.
Shop Direct was awarded Retail Technology Initiative of the Year at the Oracle Retail Week Awards for its experimentation at scale programme.
After a two-month trial process, Shop Direct partnered with Formisimo to help it maximise its online sales by making it easier for customers to purchase products.
Al Mackin, chief executive of Formisimo, told ESM: "Shop Direct has an ambitious UX team who are passionate about having the best user experience. It’s fantastic to see a large organisation embrace innovation and put it at the forefront of their growth efforts, and we’re delighted to be a part of that."
Sam Barton, head of user experience at Shop Direct, said: "Formisimo is a great product that has helped us better understand user behaviour in the registration and checkout stages of our online journey."
The retailer found that the insight matched and complemented the results it was getting in its testing labs, validating the data. "Easy to use, the technology has an impact on both its customer happiness and sales volumes, said Barton.
“Cutting edge innovations like Formisimo and our UX lab help us get closer to our customers and take even more of the guesswork out of online retail. Using data to inform our site design and experience helps us deliver a far more intuitive shopping experience.”
Other businesses benefiting from Formisimo includes TravelEx, Go Cardless and The Financial Times.
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