“Bulgaria is quite an interesting country for creating innovations. We are using Bulgaria as the first step to introduce our product, understand people’s needs, and then implement it further. This is very important because it means that Bulgaria is very close to all countries in Europe, including the USA. Bulgaria is a very mature country in this regard and is even developing faster than others at the moment.”
– Georgi Georgiev, Co-founder, and CEO of Releva.ai.
During a recent interview with Roselina Petkova for “Business Start” on Bloomberg TV Bulgaria, Georgiev highlights Bulgaria’s strong potential as an innovation center in the industry.
Georgiev shares his thoughts on Shein’s innovative approach to supply chain management, emphasizing its potential for global brand partners. Leveraging extensive data resources, Shein excels at forecasting future product demands, establishing partnerships with various clothing manufacturers for swift, small-batch production.
The interview also touched upon the topic of increasing regulations and data protection measures, such as Google’s decision to disable third-party cookies. Georgiev emphasized that eCommerce businesses will be significantly impacted by these changes, and in his opinion, the focus in adapting to the situation needs to be on shifting towards personalized shopping experiences and omnichannel communication.
Releva is a simple, powerful, and swift way to grow eCommerce shops with deep-tech personalization. Our platform provides the tools to forecast and predictably grow any eCommerce business by using personalized experiences on the website and across multiple channels. Through the use of our platform, eCommerce shops can double the generated revenue and save more than 50% of our clients’ advertising budget by using personalized offers on Facebook and Google. Releva also successfully helps clients achieve a return on investment of over 50 times, a 12% increase in conversion rates, and a 40% increase in sales.
It was an insightful discussion, shedding light on Bulgaria’s prominent role on the global eCommerce stage and delving into the business model and best practices of current major eCommerce players such as Shein and Temu.
👉🏻 Watch the full interview in Bulgarian on Bloomberg TV Bulgaria here.
