Mastercard Introduces Shopping Muse, a New AI Shopping Assistant

Mastercard has introduced Shopping Muse, an advanced artificial intelligence tool that transforms the way consumers explore and find products in online shops.

Shopping Muse, as they announced, recreates the shopping experience by understanding what people say about products and providing recommendations tailored to their style, along with advice on how to combine products and accessories. This platform allows users to explore modern trends (e.g.,’what to wear to a wedding in December in Barcelona’), dressing styles, and specific terms like ‘cottagecore‘ or ‘beach formal‘.

According to Mastercard, this tool provides recommendations that continuously adapt based on the information the user has written in the chat. Through personalization via the Dynamic Yield tool, this platform uses contextual information (e.g., weather forecasts) and insights into user behavior (what the user has searched during the session) to suggest products. It tracks what people search for, what they like, and how they behave online, and based on that, it provides recommendations for products that might suit them.

– Shopping Muse and similar solutions represent the next step in changing the way of selling, focusing on consumers as a key element of their experience. Mastercard uses technology and machine learning to achieve better results for both brands and consumers – stated Raj Seshadri, President of Data and Services at Mastercard.

Shopping Muse not only helps customers find products using key phrases but also reduces frustration by helping consumers find the perfect product even when they do not know how to describe it in words. Through integrated image recognition tools, retailers can recommend relevant products based on visual similarities with other products, regardless of whether the appropriate technical tags are missing. This tool also takes into account customer preferences based on browsing history or past purchases to better predict future purchasing needs. By understanding consumer preferences and the broader context of their behavior, retailers can ensure that the suggested products are complementary to each other rather than redundant.

– Personalization allows people to experience exactly the shopping experience they want, and AI-driven innovations are key to creating exciting and tailored online shopping – emphasized Ori Bauer, CEO of Dynamic Yield, which is owned by Mastercard.

In today’s fast-changing environment of trends and advanced technologies, retailers must adapt to changing demands and higher consumer expectations. It is essential to focus on long-term strategies rather than being led by short-term trends. To become more adaptable, it is important for retailers to embrace new technologies, and interestingly, more than a quarter of them are already using advanced AI solutions, while another thirteen percent plan to implement them next year.

It is worth noting that Mastercard acquired Dynamic Yield last year, which strengthened their service offerings aimed at engaging consumers and enhancing their loyalty, helping brands provide better and more reliable experiences through various communication channels.