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Coveo Now a Shopify Premier Technology Partner - Fuel Revenue Growth with Enterprise AI-Search, Product Discovery and Generative Experiences

1. Coveo partners with Shopify as a Premier Technology Partner. 2. Coveo AI Search is now available in Shopify App Store. 3. Enhanced AI capabilities aim to improve customer experience and drive growth. 4. Coveo's solutions enable personalized product discovery and merchandising. 5. Shopify's ecosystem strengthens as it integrates advanced AI features.

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$109.2803/25 09:05 AM EDTEvent Start
$103.72503/26 03:23 PM EDTLatest Updated
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FAQ

Why Bullish?

The integration of Coveo's AI capabilities could enhance Shopify's platform, drawing more merchants and improving sales. Historical evidence shows that strategic partnerships that enhance product offerings can lead to stock price appreciation, as seen with similar eCommerce tech partners.

How important is it?

The partnership leverages Coveo's recognized AI expertise, potentially leading to increased Shopify revenue through higher conversion rates and merchant satisfaction. The relevance and innovation of AI in e-commerce make this announcement crucial for Shopify’s future strategy.

Why Long Term?

While immediate effects may be muted, improved AI capabilities will likely strengthen Shopify's competitive positioning. Over time, as merchants capitalize on these tools, growth in revenue and user retention may significantly impact Shopify's long-term valuation.

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Join Coveo and Shopify for live demos at SHOPTALK, March 25-27 in Las Vegas. Visit the Coveo booth #1744 (next to the Impact Lounge) to see how AI-Relevance can transform Shopify businesses., /PRNewswire/ - Today, at SHOPTALK, Coveo (TSX: CVO), the market leader in AI-Relevance — delivering AI-search, generative, and business-aware relevance at every point-of-experience, announced that Coveo is now a Shopify Premier Technology Partner and Coveo AI Search and Product Discovery for Shopify is now officially available for access in the Shopify App Store. Enterprises can now improve the customer experience and drive profitable growth with the industry-leading ecommerce platform from Shopify and best-in-class AI-search and product discovery from Coveo. Coveo for Shopify in Action Coveo Now a Shopify Premier Technology Partner (CNW Group/Coveo Solutions Inc.) "The alliance between Coveo and Shopify represents a synergy of two powerful platforms, designed to fuel the future of commerce growth," said Peter Curran, GM of Commerce at Coveo. "As Shopify expands its enterprise capabilities, it needs a powerful, adaptable solution to meet the growing complexities of large catalogs and operations. Coveo equips Shopify merchants with proven AI models that go beyond enhancing product discovery — optimizing operational efficiency and driving measurable impact across every touchpoint." Drive measurable, profitable growth with leading AI-search and product discovery, personalized for every shopper intent Coveo is a recognized leader in the e-commerce industry, trusted by numerous B2B and B2C enterprises for its AI-search, merchandising, personalization, and generative answering solutions. In 2024, Gartner® recognized Coveo as a Leader in the Gartner Magic Quadrant™ for Search and Product Discovery.1With Coveo AI added to Shopify storefronts, brands gain powerful, multi-layered AI-search that transforms product discovery, adapts to intent in real-time, and increases conversion and revenue per visit. Empowered merchandising lets merchandisers fine-tune search, product listings, and recommendations, layer business rules on top of AI, and see detailed reporting.By implementing Coveo, Shopify merchants can transform their business with:Multi-layered AI-Search Industry-leading AI-search: Relevant shopper experiences with predictive query suggestions, personalized 1:1 results, partial part # match, fitment and cross-reference lookups, powered by sophisticated AI and semantics. 1-1 Personalization: Search and suggestions that adapt in real-time within a session aligning with each shopper's intent – whether returning customers or anonymous visitors. Enriched and Personalized Product Discovery Recommendations: Highly relevant product and content recommendations dynamically adjusted in-session based on real-time shopper behavior and intent cues, using deep learning models. Indexing: Unified indexing that enables effortless product discovery, regardless of catalog complexity such as customer specific pricing and entitlements. Supporting any scale, over 40 million products and 100 million pieces of content. Generative Experiences: Guided advisory experiences educating customers on products relevant to them and putting retailers' expert content to work in the discovery journey. Empowered Merchandising Scalable AI Foundation: Relevant product discovery that can be easily tuned by merchants with an intuitive UI for layering and scheduling business rules on top of sophisticated AI models. Transparent Ranking Insights: Detailed visibility on product ranking factors with extensive reporting on the performance of search and product discovery. "Shopify's leading commerce technology and strong partner ecosystem empowers merchants to create bespoke solutions for every phase of their commerce journey," said Ritu Khanna, Vice President of Partnerships at Shopify. "We're thrilled to enable Coveo's AI-powered search, product discovery, and generative experience capabilities to more businesses on Shopify."Getting started is simple with flexible integration options. Link the Coveo license with the Shopify store to access best-in-class AI-search and product discovery, plus even more functionality — including GenAI answering — through the Coveo AI-Relevance PlatformTM.Install Coveo for Shopify, available for exclusive access now.Watch Coveo for Shopify in action.About CoveoCoveo brings superior AI-Relevance to every point-of-experience and agents, transforming how enterprises connect with their customers and employees to maximize business outcomes.Relevance is about moving from persona to person, the degree to which the enterprise-wide content, products, recommendations, and advice presented to a person online aligns easily with their context, needs, preferences, behavior and intent, setting the competitive experience gold standard. Every person's journey is unique, and only AI can solve the complexity of tailoring experiences across massive, diverse audiences and large volumes and variety of content and products.Our Coveo AI-Relevance Platform™ ️enables enterprises to deliver hyper-personalization at every point-of-experience, unifying all their data securely, with the highest level of contextual and prescriptive accuracy while simultaneously optimizing business outcomes.Coveo brings AI-Relevance to the digital experiences of many of the world's premier and most innovative brands, serving millions of people across billions of interactions.What we believe is bold: Digital is table stakes, Relevance is not. It's the only way to win in the digital age.The Coveo AI-Relevance Platform™ is ISO 27001 and ISO 27018 certified, SOC2 compliant, HIPAA compatible, with a 99.999% SLA available. We are a Salesforce ISV Partner, an SAP EndorsedⓇ App, an Adobe Gold Partner, MACH Alliance member, Optimizely Partner, Shopify Premier Partner, and a Genesys AppFoundryⓇ ISV Partner.Coveo is a trademark of Coveo Solutions Inc.Stay up to date on the latest Coveo news and content by subscribing to the Coveo blog, and following Coveo on LinkedIn and YouTube.Forward-Looking InformationThis press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information"). This forward-looking information is identified by the use of terms and phrases such as "may", "would", "should", "could", "might", "will", "achieve", "occur", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", "continue", "target", "opportunity", "strategy", "scheduled", "outlook", "forecast", "projection", or "prospect", the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. In addition, any statements that refer to expectations, intentions, projections, or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates, and projections regarding future events or circumstances.Forward-looking information is necessarily based on a number of opinions, estimates, and assumptions that we considered appropriate and reasonable as of the date such statements are made. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, actual results may vary from the forward-looking information contained herein. Moreover, forward-looking information is subject to known and unknown risks, uncertainties, and other factors, many of which are beyond our control, that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to macro-economic uncertainties and the risk factors described under "Risk Factors" in the Company's most recently filed Annual Information Form available under our profile on SEDAR+ at www.sedarplus.ca. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, prospective investors should not place undue reliance on forward-looking information, which speaks only as of the date made.Moreover, we operate in a very competitive and rapidly changing environment. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.Except as required by law, we do not assume any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. _________________________ 1 Gartner, Magic Quadrant™ for Search and Product Discovery, Mike Lowndes, Aditya Vasudevan, Sandy Shen, Noam Dorros, 13 May 2024. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. SOURCE Coveo Solutions Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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