GroupBy Inc., a SaaS-based B2C and B2B eCommerce search product discovery technology leader, today announces it has been named a Challenger in the 2024 Gartner® ?Magic Quadrant? for Search and Product Discovery.
The company's revolutionary Search and Product Discovery Platform powered by Google Cloud Vertex AI Search for Retail is bringing next-generation search technology to online retailers, wholesalers and marketplaces worldwide, helping to bridge the gap between consumer and merchant.
"GroupBy is proud to be named a Challenger in the inaugural Gartner Magic Quadrant for Search and Product Discovery," said Roland Gossage, GroupBy's CEO. "We believe that this placement recognizes the hard work our team has dedicated to innovating the search and product discovery experience, while also building out a robust feature set. Legacy search engines rely on thousands of hours of human tooling on the back end to provide less-than-desirable search results. GroupBy, however, has been able to execute on our AI-first vision, dramatically improving search performance while simultaneously decreasing strain on merchandising teams. We are honored to work with our global client base, and continue to partner with our clients to create a product roadmap that both meets their needs today and sets the future for eCommerce search and product discovery."
GroupBy's all-in-one search and product discovery solution consists of Data Enrichment, Search, Recommendations, Merchandising, and Analytics and Reporting, providing eCommerce merchants access to a powerhouse of products and services designed to enhance the digital customer experience. In a competitive landscape of search providers, GroupBy is able to equip retailers with 5 key differentiators that have been proven to increase customer satisfaction, merchandiser productivity, and revenue. We believe that GroupBy stands out from its competitors because its platform is currently the only one on the market to fully leverage Google Cloud's Vertex AI Search for Retail, its ability to transform merchandising processes from rule-based to revenue-generating, best-in-class B2B functionality, vast industry and internationalization capabilities, and data enrichment.
The Only Platform That Fully Runs on Google Cloud's Vertex AI Search for Retail
For more than a decade, GroupBy has worked closely with Google to perfect their platform to provide B2B and B2C retailers with the best possible results for eCommerce use cases delivering exceptional digital experiences for shoppers and revenue uplifts for their clients. Unlike other AI search applications, which layer AI on top of legacy, keyword-matching technology to generate relevance, GroupBy's platform is the only product discovery solution completely powered by Google Cloud's Vertex AI Search for Retail. Its AI models are trained on Google's 1.8 trillion events, and collect 85 billion new events daily across its full suite of products, including YouTube and Google Search. This deep integration allows GroupBy's customers to benefit from Google's continuing AI advancements, as well as GroupBy's innovations in the field of search and product discovery. By leveraging Google's AI through GroupBy's platform, customers can process queries at scale dynamically surfacing search results that are relevant, buyable, hyper-personalized and optimized for revenue even for the most ambiguous and long-tail searches.
Rule-Free Merchandising Transforms Merchandiser Productivity
Built on AI fundamentals, GroupBy's platform transforms internal eCommerce merchandising processes from rule-based to rule-free, optimizing productivity and efficiencies while reducing time to market. Customers have gone from tens of thousands of rules to none, significantly improving productivity by more than 60%. Now, their merchandising teams can focus on revenue-driving initiatives that only humans can handle, such as curating new and innovative campaigns, investigating how to incorporate new technologies to improve the shopping experience, and negotiating merchandising agreements with key brands.
Google Cloud's Vertex AI Search for Retail has been trained on insights from Google's flagship properties, such as Google.com, YouTube, and Google Shopping, which has enabled it to deliver relevant, personalized and buyable product search results and product recommendations without human intervention. By allowing the AI to lead search rule creation, while still having all the required controls to override the AI when needed, merchandisers are able to return to their roots as creative and revenue-driving business partners.
Strong in B2B eCommerce Search Use Cases
GroupBy's next-generation search and product discovery platform excels in B2B use cases, including customer-specific availability and pricing, large product catalogs, automatic unit conversion, part number search, complex query understanding, and year, make, and model fitment search. B2B search especially presents several challenges, with technical terms for parts, partial part numbers, and multiple numeric entries like make and model often present within a single query. GroupBy's platform handles these queries with ease, allowing B2B customers to search the way they're accustomed to with ease, while driving revenue and key website metrics for retailers.
This robust set of B2B capabilities allows GroupBy's clients to more easily scale across different eCommerce business models, and is a key contributor to GroupBy's diverse client pool of B2B and B2C retailers.
Internationalization Capabilities Provide Relevant Search Results Worldwide
GroupBy's customers include recognized and trusted B2B and B2C brands across the globe, including North America, Europe, EMEA, APAC and Japan. GroupBy's platform provides strong internationalization capabilities, allowing brands to seamlessly handle multilingual content and natively supports search in 72 languages.
Enrich Solves Search-Degrading Product Data Problems at the Root
Your search is only as good as your data, and even the best search engine cannot compensate for missing or inconsistent product catalog data. GroupBy's data enrichment product, Enrich, helps retailers augment, correct and normalize product data, implementing product attribute terms that align directly with their shoppers' search intent. This improves shopper experience, product findability, and key website metrics like average order value (AOV) and revenue per visitor (RPV).
These 5 key differentiators, alongside GroupBy's robust search and product discovery capabilities, allow it to deliver Google-quality eCommerce search and recommendations results for all of their customers. By empowering brands to leverage the ideal blend of AI-optimization and manual control, GroupBy helps eCommerce companies shift from rule-based to rule-free search and merchandising, increasing merchandiser productivity, key website metrics, and most importantly, revenue.
For more information, check out GroupBy's Ultimate Buyer's Guide to eCommerce Search Product Discovery.
Gartner, Magic Quadrant for Search and Product Discovery, Mike Lowndes, Aditya Vasudevan, Sandy Shen, Noam Dorros, 13 May 2024.
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About GroupBy Inc.
Founded in 2013, GroupBy is an eCommerce Search and Product Discovery SaaS technology provider that powers some of the largest B2B and B2C brands. GroupBy's AI-first composable platform is bringing next-generation search technology to retailers worldwide, helping to bridge the gap between consumer and merchant. Powered by Google Cloud Discovery AI, the platform consists of Data Enrichment, Search and Recommendations, Merchandising, and Analytics and Reporting providing eCommerce merchants with access to a powerhouse of products and services designed to enhance the digital customer experience. Built on AI fundamentals, the GroupBy platform is transforming eCommerce merchandising from rule-based to revenue-generating, optimizing productivity and efficiencies, and reducing time to market allowing retailers, wholesalers and distributors to focus on business strategic initiatives that drive revenue. To learn more about how GroupBy is shaping the future of eCommerce visit www.groupbyinc.com and follow us on LinkedIn, Twitter and Instagram.
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