- SmartHint has a tech tool that helps customers easily find what they need, which can increase e-commerce sales;
- Magalu has 26 million items available on its platform, making the need for an efficient search vital.
Brazilian retailer Magalu (Magazine Luiza) said on Tuesday it has made its fifth acquisition in 2021: the technology company SmartHint, one of the largest intelligent search and purchase recommendation systems for e-commerce in Brazil. The idea is to use the SmartHint tool like a search engine for Magalu’s super app and website.
Founded in 2017, SmartHint has a tech tool that helps customers easily find what they need, which can increase e-commerce sales. With SmartHint technology, the customer can find products even if he typed wrong (if the phonetics is the same), search by voice, and even find items by reading images.
The algorithm also provides the user with a showcase with products that make more sense and generate greater interest for each customer.
Magalu has 26 million items available on its platform, making the need for an efficient search vital. Also, the shopping experience within sectors specialized in categories such as fashion, sports, groceries, books, and food delivery will be enhanced with even more personalized and intelligent algorithms and recommendations.
This is the fifth acquisition of Magalu in 2021. The company brought to its portfolio this year VipCommerce, a grocery delivery platform, ToNoLucro and GrandChef, ready-made food delivery apps, and the fashion website Steal The Look.
In 2020, Magalu made 11 strategic acquisitions. Amongst others, Estante Virtual was acquired, selling new and used books, the food delivery startup AiQFome, Hubsales, which connects manufacturers to the final consumer, Stoq, for POS technology, media platform Inloco, the technology content website Canaltech, the digital marketing school ComSchool and the fintech Hub.