Reverb is the largest online music marketplace dedicated to buying and selling music instruments (including new, used, and vintage). Since its launch in 2013, Reverb has created a musician-focused eCommerce marketplace, ensured price transparency, and built a music-savvy customer service team.
Even though the eCommerce market is growing rapidly, it has become highly competitive. The biggest challenge in the online marketplace market is customer retention. It requires a comprehensive understanding of customers’ preferences and sending the right offers at the right time.
Thanks to the AI-powered retail solution by EvinceDev, Reverb surpassed its quarterly sales target in the first three months of 2022. As a result, reverb sales reached a new quarterly high outpacing the solid growth it experienced in the first quarter of 2021. Reverb achieved rank in INC 500 company list and received Chicago’s most innovative product and service award.
In this post, we’ll explain how Reverb marketplace for online shopping uses EvinceDev Retail Solution to drive more sales, increase customer loyalty, and improve the shopping experience.
Business Process Automation for user’s actions and new items
While Reverb had the best UI/UX to make the buying process as seamless as possible, its web app required high-end customization to integrate necessary functionalities for end-users.
Besides, they wanted to enable sellers to log in with OAuth to a third-party app easily and allow them to view saved follows related to their products so they can make offers.
Another challenge was integrating a CRON timer that automatically repopulates users’ feeds to bring their attention to new things every N minutes. It should also be as per the customer’s search preferences and interests.
But the biggest challenge was in the user’s functionality, which was to ignore the listings that already have an offer.
That’s where EvinceDev Retail Solution came to the rescue. It is designed to solve the critical challenges of eCommerce sellers. Plus, its robotic process automation(RPA) helps automate tedious tasks, enabling sellers to do more in less time. And the same was applicable in Reverb’s case.
The key features of EvinceDev that were the most relevant to the Reverb’s challenges
- Easy navigation & attractive, responsive design
- Login and sign up with OAuth 3rd party integration
- Make auto-offer by following the certain conditions
- Fetch the user’s personal follows via API
- Pull the user’s feed, utilizing the endpoint, and then populate the app’s product list
- Easy search option based on product list (saved search)
- Global toggle/setting to turn the app on/off
- Trace the data of the offer made by the user
- Third-party integration for user’s personal follows
- Third-party integration for user’s fee
But how did EvinceDev and Reverb identify the features that can solve the challenges? Let’s understand that.
AI Powered Retail Solution – Automation Bidding Bot
Evince’s team collaborated with Reverb to understand their problem thoroughly and devise constant solutions for the challenges. EvinceDev then began conducting in-depth research, gathering requirements and analyzing gaps to solve Reverb’s problem effectively and efficiently.
After the preliminary research and analysis, the Evince team provided the complete blueprint and scope of the project, including architectural flow and journey with the Agile Methodology approach.
For instance, the Bot Module worked this way.
#Step 1: Bot turn on
#Step 2: A buyer puts the product on the wishlist (feed)
#Step 3: Bot syncs the wishlist item
#Step 4: Buyer makes an offer on the product
#Step 5: Seller accepts or rejects the offer
#Step 6: If accepted, the buyer completes the purchase
Here is a visual depicting the same.
The key technologies used to solve Reverb’s challenges include MySql, Ruby on Rails, GraphQL, and Heroku.
In other words, the AI-Powered Retail Solution by EvinceDev digitally transforms the retail industry by understanding, connecting, and engaging your customers via personalized shopping experiences.
Additional services of EvinceDev Retail Solution include:
- Predictive analysis and forecasting
- AI-powered analytics to gather consumer data from all touchpoints
- Omnichannel integration to provide customers with a fully-integrated shopping experience
- eCommerce automation functionalities to automate tedious processes
- Mobile retail solutions to help improve customer engagement
- Customer experience management to better understand them and resolve their queries
EvinceDev AI-powered retail solution empowered Reverb to modernize its eCommerce operations and enabled sellers to personalize their offers better. Today, Reverb has a one million user base and is valued at $275 million (when acquired by Etsy).
Ready to take your retail operations to the next level like Reverb? Let’s connect!