Business

Thalia Bücher Partners with Coveo to Revolutionize Online Book Shopping Experience

In an era where digital transformation dictates the pace of business growth, Thalia Bücher GmbH, a leader in the German-speaking book retail space, forges a strategic alliance with Coveo, the pioneering enterprise AI platform. This collaboration is poised to significantly enhance product discovery and provide a superior, personalized shopping rendezvous for enthusiastic bibliophiles leveraging AI-driven search and recommendations.

MONTREAL and HAGEN, Germany, June 3, 2024 – It marks a remarkable day for literary aficionados and the book retail industry, as Thalia Bücher GmbH, a titan in German-language bookselling, announces its partnership with Coveo – a front-runner in AI-powered enterprise search and user experience. Coveo's AI prowess will be implemented to captivate bookworms on Thalia's commerce website, setting the scene for a delightful and intuitive customer journey.

Thalia, which proudly boasts over 500 stores across German-speaking nations, employees 6,500 dedicated personnel, and commands a strong digital presence with an online commerce platform and a proprietary app. The retailer is on an impressive upward trajectory, with plans to double their marketplace offerings from 20 million to a staggering 40 million items in the next three years. To accommodate this ambitious burst in scale and to better serve an evolving customer base, Thalia is infusing Coveo's AI magic to fashion a highly tailored 1-1 experience that boosts product findability and relieves manual site management, ultimately fostering a thriving business growth.

Roland Kölbl, CCO of Thalia, expresses full confidence in Coveo, stating, "Coveo is precisely the partner we were seeking. With a legacy steeped in a decade of AI expertise, unmatched AI search and recommendations capabilities, and robust security features, Coveo stands out as the perfect accomplice to propel our assertive growth targets within the digital realm."

Nick Bowles, Managing Director for EMEA at Coveo, articulates the critical role that AI integration plays in crafting memorable customer experiences. He points out, "Thalia’s grasp of AI's integral role in their commerce experience is commendable. Coveo’s unique ability to deliver relevant, customized search experiences and product recommendations, even for unregistered users, is pivotal for brands with extensive catalogues. We are convinced that Thalia's customers will relish the novel experience and become repeat visitors."

As the festive season nears, Thalia's commerce site will undergo a revamp utilizing the Coveo Platform™, ensuring shoppers have the ideal destination to discover and purchase holiday gifts. Thalia joins an elite cadre of global brands, such as SAP America (Concur), Xero Limited, Famous Footwear, Sam Edelman, Fleetpride, and LCBO, which have placed their faith in Coveo’s AI capabilities to elevate their commerce, customer service, website, and workplace experiences. Recently, Coveo was distinguished as a Leader in the 2024 Gartner® Magic Quadrant™ for Search and Product Discovery. Prospective adopters of Coveo's revolutionary solutions can download your complimentary copy of the report to explore further.

About Thalia Bücher GmbH

A century of devotion to the written word – since the foundation of the first Thalia bookstore in Hamburg in 1919 – encapsulates the rich heritage of Thalia. As Germany, Austria, and Switzerland's market leader, Thalia is an independent family-run business headquartered in Hagen. Embracing both physical and digital realms, the company offers various content and narratives across a network of 500+ bookstores and their significant online and app presence.

At Thalia, a cohort of approximately 6,500 passionate and committed staff members ensure that consumers are presented with a distinctive selection, professional advice, and an exquisite shopping experience. Thalia's mission is to inform, entertain, and inspire through a rich tapestry of content tailored for customers' unique lifestyles.

About Coveo

Coveo envisions a commercial landscape where business-to-person experiences reign supreme. The company champions the ideology that extraordinary digital encounters not only boost end-user gratification but lead to tangible gains for businesses. Termed the AI-experience advantage, Coveo empowers enterprises with an AI-experience that aligns content, products, recommendations, and guidance with individual needs, preferences, and past behavior, charting out a path to unparalleled outcomes.

The key to unlocking the full potential of the AI-experience advantage is a robust composable infrastructure that merges content seamlessly and delivers advanced AI search, personalized recommendations, and a generative user experience across all customer touchpoints. Coveo dedicates itself to transforming enterprises through its comprehensive, spinal AI platform, evolving the landscape of commerce, customer service, website, and workplace interactions.

Coveo is not merely another player in the AI industry; it is a beacon of security and reliability with certifications including ISO 27001 and ISO 27018, SOC2 compliance, HIPAA compatibility, and an impressive 99.999% SLA. Boasting affluent partnerships with Salesforce, SAP, Adobe, and alliances with MACH and Genesys AppFoundry, Coveo is a name synonymous with innovation and trust in AI solutions.

Forward-Looking Information

Amidst the press release's promising announcements lies a disclaimer of "forward-looking information" that contains projections and expectations about future events or circumstances. By using terms like "may," "will," "expect," and "plan," this information outlines the company's intentions and estimates which are not historical facts but thoughtful conjectures.

These forward-looking statements inherently rely on various assumptions deemed reasonable by the company's management to date. While based on rational foundations, actual results may diverge from the projected pathways due to unforeseen circumstances. Assumptions integral to these prognostications include the company's ability to exploit growth avenues, allure new customers, expand product offerings and market footprints, maintain strategic partnerships, manage capital requirements, and navigate the complexities introduced by the ongoing COVID-19 pandemic.

The ever-present element of risk, known and unknown, might lead to actual outcomes that starkly contrast with the forward-looking statements. These risks encompass macro-economic fluctuations and are extensively listed under the "Risk Factors" in the company's most recently filed Annual Information Form, which is available on SEDAR.

In such a cutthroat and rapidly evolving environment, it's crucial to recognize that additional, currently unknown risk factors could still materially influence actual results or future events. Therefore, reliance on forward-looking information must be tempered with an understanding of its speculative nature. For the latest information updates, Coveo's public filings and profiles on SEDAR will be available sources.

The dynamic nature of forward-looking statements only holds until new events emerge or unanticipated developments occur. As a result, except for legal obligations, there is no compulsion for Coveo to revise any forward-looking information post the date of these statements or subsequent to the occurrences of unforeseen events.

In carrying the weight of potential — and the uncertainty of the future — Coveo confidently steps ahead, transforming with each stride, the domain of personalized digital experiences it promises to deliver.

Conclusion

The partnership announced today between Thalia Bücher GmbH and Coveo signifies more than just a business alliance. It marks an avenue for the evolution of the customer experience in the expansive online book retail market. Through the implementation of Coveo’s forward-thinking AI technology, Thalia is set to offer an engaging and seamless digital experience. This is expected to resonate with the company’s core audience and drive business success in a competitive digital age.

Coveo Solutions Inc's strategic foresight might be the catalyst that defines the next era of e-commerce transactions for the book industry, and Thalia Bücher GmbH's decision to integrate this technology solidifies their market leadership. As the partnership unfolds, the reading community and the commerce world alike will keenly watch the trajectory of this combination of traditional literature and cutting-edge AI solutions.

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