E-commerce is also undergoing a rapid transformation –
There’s no hotter topic within the business world than Artificial Intelligence. AI is transforming the e-commerce customer experience by allowing businesses to create a more personalised and emotional experience for browsers.
Here we explore some of the ways AI in E-commerce is changing the online shopping experience for your customer.
Ai and machine learning have played a significant role when it comes to providing personalised experiences to consumers. The availability of tools for predicting what products and services customers want by examining past purchases and browsed products and categories online.
Product recommendations provide multiple benefits for eCommerce retailers, including:
- A higher number of returning customers
- Improved customer retention and sales
- A personalised buying experience for online shoppers
- It supports personalised marketing strategies and email campaigns.
With the need to get the right price, in the right location, and at the right time, retailers are begging to use AI-dynamic pricing models.
By integrating Ai and machine learning into the process, business owners can accurately predict customer behaviour and build a whole system around the user’s needs. The best prices can now be determined by the algorithms, taking into account the various market forces.
Inventory management and shipping prediction
AI Inventory forecasting uses data from sales history, promotions, and external factors to calculate the needed inventory needed to meet customer demand based on how much product is predicted to be sold within a certain period—leading to a more efficient production cycle with fewer issues with under-stocking and over-stocking.
Voice assistants like Amazon’s Alexa and mobile assistants like Siri and Google Assistant are now more widespread – they have gone from doing simple tasks on a phone or tablet to managing home appliances like fridges, air conditioners, and lighting. Voice search can help with your eCommerce strategy by reaching people who start their shopping or product browsing with a voice assistant.
Chatbots and other virtual assistants
E-commerce retailers are increasingly turning towards chatbots or digital assistants to provide 24×7 support to their online shoppers. Thanks to updated and detailed algorithms, AI systems are becoming more efficient at a much faster rate than ever before. Chatbots help businesses respond to a quick, direct and visual experience; It’s a “one-to-many” assistance tool readily available for all customers simultaneously regardless of different time zones. They are incredibly efficient and provide support outside of office hours, improving your customers’ experience.