- Coveo poised to continue expansion into Australia and the broader APAC region where
demand for AI products is robust
- Early results from Freedom are promising, with a 15% uplift in
customer sessions using Coveo's AI-powered search function and an
impressive 5.5% improvement in Average Order Value (AOV) year over
year for customers engaging with onsite search
MONTREAL and SYDNEY, Jan. 8, 2025
/CNW/ - Coveo (TSX: CVO), the leading enterprise AI platform
that brings AI search and generative AI to every
point-of-experience, today announced that Freedom Furniture, a
leading furniture and homeware retailer with over 60 store
locations across Australia and
New Zealand, has chosen Coveo's AI
Platform™ to improve product discovery during the omni-channel
shopping experience.
Over the past 18 months, Freedom experienced a nearly fivefold
increase in its product offerings, expanding its catalog from
10,000 to 45,000 items and counting. This rapid growth, combined
with evolving online shopper expectations and ambitious plans for
the future, led the company to re-evaluate its ecommerce technology
stack. To support this transformation, Freedom replatformed its
digital channel with SAP Commerce Cloud in 2020, boosting the share
of online sales from just 6% to 25%. Recognizing the strategic need
for an AI-powered search solution to enhance product discovery and
streamline operations for its merchandisers, Freedom chose Coveo's
AI Platform™ to support their online growth.
"We believe in harnessing advanced digital technologies,
including AI, to provide the best possible customer experience we
can deliver, driving business growth as a result," said
Paula Mitchell, Digital General
Manager at Freedom. "Coveo provides the robust AI functionality we
need to power intuitive, hyper-personalized shopping journeys while
scaling with our growth. We see Coveo as an innovation partner
whose AI roadmap will continue to push the boundaries of what we
can deliver for our customers."
"Furthermore, with SAP Commerce Cloud powering Freedom's
ecommerce infrastructure, it made sense for us to
choose Coveo, an SAP Endorsed App partner, to enhance product
discovery, search, and more," added Ms. Mitchell. "We look forward
to leveraging Coveo's capabilities to transform our shopper's
experiences."
"Freedom is a forward-thinking brand that recognizes the
transformative power AI can have on the customer experience," said
Alexander Mahr, Director,
ANZ Region, Coveo. "By leveraging
Coveo's AI Platform™, Freedom can guide customers effortlessly
through their product discovery journey, whether they're searching
for the perfect chair, couch, or dining room set, resulting in
better buying decisions, increased purchase satisfaction and repeat
visits."
The Coveo AI Platform™ is live on Freedom's online ecommerce
site providing an end-to-end solution to improve all facets of the
shopping experience, improving engagement and increasing
conversions, including:
- Search: Predictive suggestions and relevant search
results powered by multiple layers of AI models that go beyond
popularity ranking and adjust to shopper intent in real time.
- Listing pages: Specialized AI optimization that learns
from user behavior and product attributes to optimize listing pages
towards business KPIs.
- Recommendations: Product and content
recommendations augmented in-session based on real-time shopper
behavior and intent cues, using deep learning models.
- Merchandising and insights: A dedicated merchandising
hub with visual tools, and insight driven intuitive workflows to
effortlessly mix manual rules with AI in the product discovery
experience to achieve the optimal business outcome.
Already within the first 30 days, Freedom has reported a 15%
uplift in customer sessions utilizing the new AI-powered search
function, with an impressive Average Order Value (AOV) improvement
of 5.5% year over year for customers engaging with the onsite
search function.
Join Freedom's Digital GM Paula
Mitchell, and John Grosshans,
CRO at Coveo, at their NRF 2025 session on January 12, 2025, at 1:00pm titled, "How Freedom Furniture is
Transforming Online Experiences with AI." Visit Coveo and Freedom
at NRF Booth #721.
Freedom will also present alongside SAP in the SAP Theater in
the SAP Village on Sunday, January 12
from 11:00 AM – 11:20 AM and during SAP's Show Floor Meets Top
Floor Reception on Sunday, January 12
from 6:40 PM – 6:55 PM. Attendees can register here.
For more information about Coveo AI Platform™, and to schedule a
one-on-one demo, please visit:
https://www.coveo.com/en/industries/retail
About Coveo
We strongly believe that the future is business-to-person. That
experiences are today's competitive front line, a make or break for
every business. We also believe that remarkable experiences not
only enhance user satisfaction but also can be optimized with AI to
yield significant gains for enterprises. That is what we call the
AI-Experience Advantage – the degree to which the content,
products, recommendations, and advice presented to a person online
aligns dynamically with their needs, intent, preferences, context,
and behavior, while controlling superior business outcomes.
To realize this AI-Experience Advantage at scale, enterprises
require a robust, spinal and composable infrastructure capable
of unifying content securely and delivering AI search, AI
recommendations, true personalization, and a trusted generative
experience at every touchpoint with each individual customer,
partner and employee.
Coveo is dedicated to bringing this advantage to every
point-of-experience, using powerful data and AI models to transform
the enterprise in commerce, customer service, website and
workplace.
The Coveo platform is ISO 27001 and ISO 27018 certified,
SOC2 compliant, HIPAA compatible, with a 99.999% SLA available. We
are a Salesforce ISV Partner, an SAP EndorsedⓇ App,
an Adobe Gold Partner, MACH Alliance member, Optimizely Partner,
Shopify Partner and a Genesys AppFoundry ISV Partner.
Coveo is a trademark of Coveo Solutions Inc.
About Freedom:
For over 40 years, Freedom has helped Australians and New
Zealanders create a home that they love coming home to. Since
launching in Sydney in 1981,
Freedom has focused on crafting furniture, homewares and mattresses
that reflect a uniquely local aesthetic. With more than 60 stores
across Australia and New Zealand and an extensive Online Exclusive
range, Freedom continues to innovate as an omnichannel retailer.
Committed to championing quality craftsmanship, Freedom delivers
cohesive collections that celebrate the distinctive antipodean
lifestyle, making beautiful things for the home available to
everyone.
Forward-Looking Information
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
securities laws (collectively, "forward-looking information"). This
forward-looking information is identified by the use of terms and
phrases such as "may", "would", "should", "could", "might", "will",
"achieve", "occur", "expect", "intend", "estimate", "anticipate",
"plan", "foresee", "believe", "continue", "target", "opportunity",
"strategy", "scheduled", "outlook", "forecast", "projection", or
"prospect", the negative of these terms and similar terminology,
including references to assumptions, although not all
forward-looking information contains these terms and phrases. In
addition, any statements that refer to expectations, intentions,
projections, or other characterizations of future events or
circumstances contain forward-looking information. Statements
containing forward-looking information are not historical facts but
instead represent management's expectations, estimates, and
projections regarding future events or circumstances.
Forward-looking information is necessarily based on a number of
opinions, estimates, and assumptions that we considered appropriate
and reasonable as of the date such statements are made. Although
the forward-looking information contained herein is based upon what
we believe are reasonable assumptions, actual results may vary from
the forward-looking information contained herein. Moreover,
forward-looking information is subject to known and unknown risks,
uncertainties, and other factors, many of which are beyond our
control, that may cause the actual results, level of activity,
performance, or achievements to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to macro-economic uncertainties and the risk
factors described under "Risk Factors" in the Company's most
recently filed Annual Information Form available under our profile
on SEDAR+ at www.sedarplus.ca. There can be no assurance that such
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, prospective investors
should not place undue reliance on forward-looking information,
which speaks only as of the date made.
Moreover, we operate in a very competitive and rapidly changing
environment. Although we have attempted to identify important risk
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
risk factors not presently known to us or that we presently believe
are not material that could also cause actual results or future
events to differ materially from those expressed in such
forward-looking information.
Except as required by law, we do not assume any obligation to
update or revise any forward-looking information, whether as a
result of new information, future events, or otherwise, after the
date on which the statements are made or to reflect the occurrence
of unanticipated events.
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SOURCE Coveo Solutions Inc.
