Etsy recently introduced a new feature called Gift Search that uses artificial intelligence to offer personalized gift suggestions based on your preferences.
Imagine an interactive digital quiz that prompts you to share details about the recipient of your gift – be it a friend, parent, or child – as well as the occasion, whether it’s a birthday, anniversary, or a time to cheer someone up. above. In addition, it asks you about the recipient’s interests. In the first phase, Gift Search offered a selection of 15 interests, such as DIY, current fashion trends, sports hobbies, gaming, pet care, and more. It processes this information to prepare a variety of gift collections created from the site’s vast assortment of over 100 million unique products. These collections serve more than 200 prominent personalities.
For example, you might find tailored sets for the Music Enthusiast, Gamer, Explorer, or Animal Lover. Etsy intends to develop this feature with new interests and character profiles, keeping pace with new trends, as Tim Holley, Etsy’s vice president of product, emphasized in a discussion with TechCrunch. Etsy has also introduced a new “gift teaser” service that lets you email a gift recipient a preview if the item doesn’t arrive in time for their special event. This service also allows you to send a personalized note and includes tracking information.
Back in 2017, online retailer UncommonGoods launched a similar initiative with its AI-powered gift suggestion tool called Sunny, which rated suitable products based on factors such as the recipient’s age group and interests, as well as space for more detailed information. preferences
Etsy’s Gift Finder aims to make the often overwhelming task of choosing the perfect gift easier. According to a recent Etsy survey, 71% of shoppers were nervous about choosing gifts in the past year. Tim Holley detailed how Gift Search was created, explaining that the service is based on an observation that while many brands offer gift-worthy products, few provide a shopping experience specifically designed for gift-givers that meets the challenge of finding a thoughtful and unique gift. Etsy’s goal is to establish itself as a gifting platform, helping shoppers find and buy unique items from independent sellers year-round.
The innovation combines machine learning, editorial curation, and GPT-4 OpenAI capabilities with custom settings to prioritize listings that are considered ideal for gifts and those that are likely to be high-quality from sellers known for exceptional customer service. The Etsy platform has been incorporating artificial intelligence to enhance its search capabilities for several years, and it continues to prioritize advancements in this technology area, including generative artificial intelligence, as Etsy CEO Josh Silverman emphasized during a May 2023 financial update.
In addition to Gift Finder, Etsy offers other gift-focused services, such as wedding and baby registries, and plans to continue investing in and improving these offerings. Additionally, Etsy announced a new “Share & Save” program that encourages sellers to promote their Etsy shops. After a successful sale through these shares, the transaction fee charged by the platform drops to 4%, as opposed to the standard 6.5%. The adjustment comes after a controversial commission hike to 6.5% in 2022 from 5%, which has sparked controversy and seller strikes.