Narvar launches AI platform using data from 42 billion customer interactions to enhance retail experiences

Narvar introduces IRIS, a new AI platform designed to enhance post-purchase retail experiences and combat fraud while improving customer retention.

The core innovation: Narvar’s Intelligent Retail Insights Service (IRIS) combines AI, data analytics, and machine learning to transform post-purchase operations for retailers.

• The platform processes data from over 42 billion consumer interactions across 1,500 global retailers, including major brands like Gap, Levi’s, and Sonos
• IRIS’s first service, Narvar Assist, focuses on automating claims management and reducing delivery fraud
• Early testing with 20 retailers showed an 80% reduction in fraud-related inquiries and a 25% decrease in shipping-related compensation costs

Technical implementation: IRIS leverages Google Cloud services alongside proprietary machine learning algorithms to create predictive models of customer behavior.

• The system analyzes transaction patterns similar to how language models process text, treating purchase journeys as sequences to predict
• While not using generative AI, IRIS incorporates transformer architecture techniques from large language models
• The platform moves beyond traditional rules-based models to provide more accurate delivery estimates by considering factors like weather and carrier systems

Customer impact: Boston Proper’s early adoption of IRIS demonstrates tangible improvements in customer service and operational efficiency.

• The clothing retailer has used Narvar’s services for 6 years, including their Engage solution for delivery notifications
• Implementation of Narvar Assist has reduced customer contact rates and associated costs
• The system provides enhanced visibility into order status and automated return processing

Strategic vision: Narvar aims to bridge the gap between online and in-store retail experiences through expanded platform capabilities.

• The company is working to extend IRIS capabilities to physical retail locations
• The platform’s insights span online, in-store, and warehouse operations
• Narvar CEO Anisa Kumar emphasizes the importance of customer retention over acquisition

Market context: The retail industry has shown interest but limited adoption in AI implementation, with Narvar’s SaaS model offering an accessible solution.

• A 2024 Forrester report indicated high interest but low adoption rates for AI in retail operations
• Post-purchase operations represent a significant cost center for retailers
• The platform aims to transform these operations into a strategic advantage through personalization and automation

Looking ahead: IRIS represents a significant step toward integrated retail experiences, though its full impact on the industry remains to be seen as the platform expands beyond its initial fraud prevention focus to encompass broader retail operations.