Why it matters: Temple & Webster is Australia’s largest pure play online retailer of furniture and homewares.
AI-enhanced product descriptions across more than 200,000 products has led to an increase in conversion rate, add-to-carts and revenue per visit during the 2023 financial year.
No dividends were declared by Temple & Webster.
Temple & Webster is using artificial intelligence software to avert what boss Mark Coulter called the “retail recession” by writing AI-enhanced descriptions of the home furnishings it sells online, and convincing more customers to convert their browsing to purchases.
Its next feature will be to offer AI-interior design to match customers’ tastes with Temple & Webster products.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
