Drawing on Michael’s experience in the retail industry and identifying clear shortcomings in online consumer purchasing conversion rates, Michael and his team are on a mission to revolutionise online shopping through information technology solutions!
By bringing the in-store shopping experience online, preezie is helping consumers find the perfect product with ease whilst optimising businesses online sales rates.
Having commenced operations in 2017, prezzie now boasts over 700,000 monthly users with a team of over 25 and clients, including the likes of Lorna Jane, Snooze, Everlast and Guitar Center!
We recently caught up with Michael to hear about his story:
When I initially started working in retail early on in my life, I noticed that 40% of shoppers that walked into a physical store bought an item off the shelf. The conversion was very high compared to online. If you compare this to an eCommerce store, the conversion rate drastically drops to around 1%.
I tried to figure out why there was a huge gap between the in-store and online shopping experience. I noticed that the difference between shopping in-store compared to online was the presence of a sales assistant readily available to guide customers. eCommerce stores have no sales staff to guide customers throughout their buying journey and this negatively affects the conversion rate of online sales.
I asked myself the question, why doesn't anyone bring this in-store experience online? This idea sparked preezie, with the goal of helping online shoppers find the right product seamlessly and as a result, increase eCommerce revenue around the world.
What’s your favourite thing about what you do?
I LOVE leading teams to build amazing technology and products that can revolutionise industries for the benefit of human progression.
Michael, what’s next for preezie?
Michael’s vision to bridge the gap between online and in-person retail experiences now brings preezie’s focus to getting the word out there and driving organic product-led growth through usage.
Product-led growth is next for preezie. We are focusing on getting the word out there and getting as many users to help fuel the growth of the product itself.
What are you looking forward to most about Thriday?
By sharing Michael’s vision of the modern shopping experience, Michael is excited to manage his finances more easily and efficiently with Thriday to save time and focus on growing his business!