Nibble named the 'Ecommerce Innovation of the Year' at the UK eCommerce Awards 2023.
At a gala event for the ecommerce industry, Nibble was declared the winner of the hotly-contested category, in recognition of how we are disrupting an area of ecommerce that hasn't seen true innovation for decades: promotions and discounting - and the financial results we are delivering to our customers.
Just some of the reasons why we won:
1. Our proprietary technology, including our Natural Language Understanding (NLU) and Named Entity Recognition (NER) models to understand users’ chat messages - both their literal meaning, but also interpreting them in the context of ecommerce.
2. Retailers' ability to use Nibble strategically, targeting customers with small, engaging offers at the right time, by using behavioural tools to manage when Nibble appears on the site.
3. Our Brand Value Statements functionality - custom brand messaging-based comments that are inserted tactically into the conversation to defend retailers' price points and reduce the discount required to close the sale - all while driving brand values and making negotiations value-based, not just price-based.
4. The commercial impact we deliver:
|+50% to AOV, with only single-figure discounts||£10,000s of sales while reducing discounts by 30%||Adding £10 (or 6.4% additional margin) to every purchase|
And finally, the judges' comments:
The innovation demonstrated is truly impressive. The integration really showcases the team's ability to understand user messages in the context of e-commerce, negotiation and customer behaviour.
This contextual understanding, coupled with negotiation science and generative AI text ensures that the chatbot can engage in meaningful and value-driven conversations.
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