THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omnichannel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
M&S acquires Thread to better deliver customer experience

Marks & Spencer has acquired the intellectual property, including the source code and algorithms developed by personalised fashion marketplace Thread to accelerate its personalisation capabilities. In… View Article

FASHION

M&S acquires Thread to better deliver customer experience

Marks & Spencer has acquired the intellectual property, including the source code and algorithms developed by personalised fashion marketplace Thread to accelerate its personalisation capabilities.

In a statement, M&S said that the acquisition will allow it to integrate “cutting-edge proprietary tech” into the M&S website as it looks to accelerate personalisation and deliver a unique customer experience. The personalisation capabilities will stretch across all clothing products available on M&S.com, including the retailer’s third-party brand partners.

The move comes as M&S states it has generated substantial value through its customer data, personalising offers and product recommendations in recent years, and it is expected that 20-25 percent of all digital interactions will be personalised this year.

Outfit recommendations have proved to be valuable for the retailer and it estimates that the ‘frequently bought together’ recommendations are worth an incremental 20 million pounds in revenue over the last 12 months. A figure it expects will increase to more than 100 million pounds of annualised incremental revenue for the business in the coming years.

Katie Bickerstaffe, co-chief executive at Marks & Spencer, said: “The acquisition of Thread is the perfect example of a ‘buy not build’ approach – enabling us to accelerate our personalisation strategy by integrating the market-leading tech on M&S.com in under 12 months. We’re taking personalisation to the next level to inspire our customers with tailored outfit inspiration.

“We have been working hard to deliver better, more stylish ranges and this algorithm will also put more of our great product in front of the customer, whilst further unlocking the potential of our third-party brand strategy, by adding outfit completing product ideas. We already know the incremental value personalisation can bring and we anticipate that personalisation will generate more than 100 million pounds of annualised incremental revenue for the business.”

Following the administration of Thread, M&S added that it is hiring 30 of its former data scientists, software engineers and styling and creative teams who will lead the integration and form a new personalised discovery team, within its data and digital function. This includes Kieran O’Neil and Ben Phillips, who founded Thread in 2012.

Kieran O’Neill commented: “We have worked for the past 10 years on building the most advanced AI personalisation for online fashion, proven to increase customer conversion and repeat orders. We’re so excited to join forces with M&S; through their infrastructure and support, we’re able to take our market leading technology to the next level, providing a personalised and unique shopping experience for their 30 million customers.”

Kieran joins M&S in December as Senior Head of Product.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News