Reebok is American fitness footwear, clothing, and fitness equipment manufacturer subsidiary of brand management company Authentic Brands Group since March 2022.
Reebok is the sponsor of The UFC, Spartan Race, & CrossFit. It used to be the number one sports brand back in the 1980s. After that, it lost its market share to Nike (see graph)
The problem with Reebok: underperforming, lack of innovation, and loss of its market share to its competitor Nike. Reebok is hoping to evolve into a more holistic digital strategy going forward, given the competitive pressure from rivals like Nike who are increasingly utilizing digital strategies in its business model. Reebok is working on its digital marketing as one of its top strategic goals.
We chose this company as we believe that there is an opportunity for AI marketing techniques to help this company revive and gain some market share and increase its profitability. Especially with the current change in their strategies to gain and retain more customer base.
We will focus on footwear: running, classic, training, casual and walking categories.
Our program: Image-Based Product Recommendation System Using CNN, with the aim to build a smart recommendation system using the image of a product as input rather than text.
The online retail ecosystem is fast evolving and online shopping is growing. The explosive amount of online digital information-related challenges of information overload. There is a huge demand for a recommender system. Most online shopping e-commerce depends on text base search and previous knowledge of the product that the customer is searching for. With the development of the neural network, there is a current shift to visual search. We would like to implement this program to help the customers with their search and give them an enhanced engaging experience while searching for their products using an image. We would like to optimize the online stores to stay competitive and answer to the needs of the customers. It is a time-saving feature that omits opening a dozen product pages looking for a particular product. And we would like to provide an item-based personalized recommendation system based on the customer’s previous purchase behavior.
Our target is all customers of different ages who want to be fit and adventurous and sporty.
The overall output from this program for Reebok is as follows:
• Converting the shoppers to customers.
• Better customer shopping experience & engagement.
• Increase customer retention and conversion.
• Boosting sales and revenue.
• Enhance & build the brand experience.
• AI-based insight for the betterment of customer activation.
• Improve profitability and ROI.
We choose to implement this program now, to stay competitive in the market. Given the fact that its competitors Nike are implementing different AI marketing techniques like finding the right fit using Invertex computer vision capabilities, making your own sneakers using AR, and personalized recommendations through data mining among other AI-based techniques. Providing the product-based image recommendations is going to help Reebok by being present at the right time, for the right customer with the right product via the personalized recommendation system.
With the image base product recommendation system, we are trying to convert more shoppers into customers. To have more purchases. Our ultimate goal is to increase our sales and profitability. This would be doable if we managed to have more customers who are satisfied with our services, more engaged, easier to navigate and find the product they are searching for and improve the overall customer experience.
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