Artificial intelligence (AI) continues revving up, penetrating a broad spectrum of areas, uncovering new value for banking, healthcare, and sports.
eCommerce doesn’t stay on the sidelines, providing shoppers with a seamless user experience and granting retailers lucrative opportunities. That’s why it stands to reason that 42% of retail and eCommerce players pilot, apply, or expand their AI programs.
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AI is eCommerce’s next best bet
According to Forrester Research, online sales will reach a whopping $523 billion by 2020 in the U.S. alone. With this kind of statistics to play around, coupled with the stark reality of physical stores shutting down by the dozens, eCommerce businesses are now turning to AI powered solutions to stay a step ahead of their competitors.
AI for Product Recommendations
Businesses and marketers today are immensely focused on offering their customers something which they are able to relate to. And with the increase in the number and quantum of online shopping, it is becoming increasingly difficult for businesses to keep a track of all that data they are gathering. with AI-powered solutions, brands can predict what customers need, from their real-time on-site behavior and provide them a selection of relevant products.
AI for Conversion Optimization
With the help of AI-backed conversion rate optimization tools, online businesses can now optimize their web page for the highest conversion – by tailoring their layout, optimizing landing pages and brand images, and even apply it to different segments of their web traffic.
AI to retain Customers
With the help of AI, online retailers can personalize their marketing messages based on customer demographic. In other words, they now know exactly what message to convey to each customer and when. Demographics could be anything from age, gender, location to which device they are browsing the sites from. This kind of message personalization increase conversion rates and increase the likelihood of repeat customers and customer loyalty.
Disclaimer: I work with eCommerce businesses and my area of expertise is AI powered personalization.
Dear Members, thanks for inputs on this thread so far. I got down to writing specific use cases for AI in ecommerce in this article. Hope this helps many community members who have questions like, what is the meaning of AI and how to use AI so on.
AI is making eCommerce smarter in terms order fulfilment, shipping management, ecommerce tracking etc.
As AI can reduce shopping cart abandonment and helps in growth in revenue.
There's an unique product in market which has created an amazing shopping experience i.e. the suite by FenixCommerce.
Please do visit this page and check out there unique customized software.
Artificial Intelligence is rapidly walking across the corridors of eCommerce development.
Hit the like button if it helps you.