Michael Kors First to Debut Shopping Muse, the AI-Powered Shopping Assistant From Dynamic Yield by Mastercard

Rhea-AI Summary

Michael Kors has become the first retailer to integrate Shopping Muse, an AI-powered shopping assistant from Dynamic Yield, a Mastercard company. This new tool, available on Michael Kors' U.S. website, leverages generative AI to provide personalized product recommendations based on customers' natural language and preferences, enhancing the shopping experience. Initial tests show a 15-20% higher conversion rate compared to traditional search queries. Shopping Muse, launched in late 2023, is also being extended to furniture retailers. Mastercard ensures robust privacy safeguards and responsible AI principles in all its products.

Positive

• Michael Kors is the first to adopt AI-powered Shopping Muse, enhancing customer experience.
• Shopping Muse increases conversion rates by 15-20% compared to traditional search queries.
• Integration aligns with summer and wedding season, potentially boosting sales.
• Shopping Muse is expanding to other retail sectors, like furniture, broadening its market impact.
• Mastercard ensures high privacy and security standards for Shopping Muse.

Negative

• The integration of Shopping Muse is currently to the U.S. website, potentially limiting its immediate global impact.

Michael Kors customers can use Shopping Muse to find the right outfit and accessories for any occasion

PURCHASE, N.Y.--(BUSINESS WIRE)-- Michael Kors and Mastercard are ushering in the future of fashion with the iconic retailer’s adoption of Shopping Muse, the next-generation retail assistant from Dynamic Yield, a Mastercard company. Michael Kors is the first retailer to make Shopping Muse and its advanced generative AI capabilities available to consumers through an integration on its website in the U.S.

With summer adventures and wedding season on the horizon, Michael Kors’ Shopping Muse integration comes at just the right time. Shopping Muse recreates the in-store experience by translating consumers’ colloquial language into tailored product recommendations, meaning fashionable consumers can quickly find the perfect look that matches their inquiry as well as their demonstrated behavior and preferences. This type of personalized approach can boost shopper satisfaction and increase revenue; in initial tests, Shopping Muse generated around a 15-20% higher conversion rate than traditional search queries.

Dynamic Yield CEO Ori Bauer adds, “As a trailblazer in ready-to-wear fashion, Michael Kors is a perfect example of how to put our ready-to-use technology to use. Shopping Muse is helping translate the signature Michael Kors service to the digital world, delivering a satisfying shopping experience as singular and impactful as the brand’s aesthetic.”

Following its launch in late 2023, early access to Shopping Muse was extended to fashion retailers, including Michael Kors. Shopping Muse is now also available to furniture retailers, soon making the shopping experience smarter and more seamless for an expanding range of customers. Mastercard embeds best-in-class privacy safeguards into all of its products and services, adhering to a robust Privacy by Design framework while applying effective and responsible AI principles and standards. This commitment ensures that Shopping Muse enhances the shopping experience with the highest level of privacy and security for consumers.

About Michael Kors

Michael Kors is a world-renowned, award-winning designer of luxury accessories and ready-to-wear. His namesake company, established in 1981, currently produces a range of products under Michael Kors Collection, MICHAEL Michael Kors and Michael Kors Mens, including accessories, ready-to-wear, footwear, watches, and a full line of fragrance products. Michael Kors stores are operated in the most prestigious cities in the world. In addition, Michael Kors operates digital flagships across North America, Europe and Asia, offering customers a seamless omni-channel experience.

About Mastercard (NYSE: MA) www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240610395948/en/

Media Contacts



Mona Swanson, Michael Kors

212-201-8278 | Mona.Swanson@MichaelKors.com



Courtney Meola, Mastercard

914-306-4428 | courtney.meola@mastercard.com

Source: Mastercard Investor Relations

FAQ

What is Shopping Muse by Dynamic Yield?

Shopping Muse is an AI-powered retail assistant from Dynamic Yield, a Mastercard company, that provides personalized product recommendations based on customers' natural language and preferences.

How does Shopping Muse benefit Michael Kors customers?

Shopping Muse enhances the shopping experience by offering tailored outfit and accessory recommendations, mimicking in-store assistance and increasing customer satisfaction.

What impact has Shopping Muse had on conversion rates?

Initial tests showed that Shopping Muse generates around a 15-20% higher conversion rate compared to traditional search queries.

When was Shopping Muse launched?

Shopping Muse was launched in late 2023, with early access extended to fashion retailers like Michael Kors.

What privacy measures does Mastercard implement for Shopping Muse?

Mastercard embeds best-in-class privacy safeguards into Shopping Muse, adhering to a robust Privacy by Design framework and responsible AI principles.