The $67 million investment in Allopneus will help Michelin better understand online tire buyers, the tire maker says.
Ice.com offers videos that show how rings and necklaces will look on consumers.
Ice.com, No. 195 in the Internet Retailer Top 500 Guide, faces a challenge common to many online retailers of jewelry: Images of diamonds, pearls and other items may not always show their true sizes, resulting in doubtful shoppers abandoning product pages—or paying customers returning items that seemed to lose their online glitter once in hand.
The retailer recently hired a videographer and models to produce videos that show how its diamond rings, necklaces and bracelets look on people. Ice.com then conducted A/B tests of product pages with and without the new videos.
Among shoppers who saw the new videos, the add-to-cart rate rose 25% and the sales conversion rate increased 11%, compared to shoppers on product pages without the new videos, says Pinny Gniwisch, Ice.com’s executive vice president and chief marketing officer.
“But the biggest metric was that the return rate went down by almost half,” he says. “The ability of shoppers to associate jewelry with an actual person provided great results.”
Ice initially planned to produce videos only for products that had the highest return rates, but has since decided to produce them for all products, Gniwisch adds.