Categories: Digital World

Why Artificial Intelligence is prime factor for the eCommerce industry?

From customer-oriented search engine to voice assistants, from inventory management to predictive pricing.

E-commerce is one of the fastest-growing sectors, globally. Worldwide e-commerce sales are projected to reach $ 4.8 billion in 2021. The advancement of artificial intelligence (AI) is a significant factor behind this unprecedented growth. According to a study, shortly, artificial intelligence technologies will be responsible for managing 80% of customer interactions.

AI tools to drive e-commerce businesses

1. Customer-oriented search engine

We’ve all heard of voice search. However, it’s new to most people. Based on machine language, the e-commerce industry has started using AI to improve the customer experience. With just one click, users can get a huge list of things they want. The visual element is more attractive to humans and enhances customers’ interaction with the brand. It allows them to view the format, colour and size of a product before placing an order.

2. Personalized advice

Artificial intelligence software intelligently uses text and pop-ups while tracking customer searches to predict customer behaviour and provide them with personalized recommendations. A thorough understanding of consumer behaviour allows e-commerce sites to display advertisements and products relevant to the interest of users. Like most eCommerce retailers nowadays, it is possible to deliver exactly what customers want, resulting in better sales and revenues.

3. Effective digital marketing

According to the major digital marketing trends of 2020, hyper-personalization is at the heart of artificial intelligence and eCommerce. With this built-in feature, you can send your customers email messages according to their interests and needs. AI-based marketing gives automatic engagement emails a human-style based on user analytics. With the advanced features of AI technologies, you can automatically manage your digital marketing campaigns. At all stages from planning to analysis, you can manage your marketing campaigns easily. 

4. Retrieve lost customers

With huge customer data, it sometimes becomes unmanageable for companies to follow up with every potential customer. With business and AI, though, you can now follow pre-qualified potential users interested in your brand. For example, facial recognition is a useful feature of AI that captures a user’s time spent on the e-commerce website. It means that if a user spends a considerable time researching Apple Watch features, these details will be stored for use on their future visit. With developments in artificial intelligence, people can be expected to receive personalized on-screen offers based on their past purchases and searches.

5. Voice assistant

The AI-based voice assistant is a feature that every eCommerce platform should adopt to enhance the shopping experience of your shoppers. We’ve all surely heard of some well-known virtual assistants, such as Siri, Alexa, and Google Assistant. It is now possible to serve more customers regardless of the language they speak.

6. Chatbot with a personal touch

Recent studies suggest that one in five shoppers are interested in using chatbot services, which is why many e-commerce platforms are choosing them more and more frequently. Generally speaking, chatbots are artificial intelligence systems that interact via text or voice, to provide round-the-clock automation support to online shoppers. Advanced AI systems have unique learning capabilities, which add a human touch to conversations and ultimately improve the customer experience.

7. Low-cost services

Positive things don’t have to be expensive, and AI technologies are ideal for businesses. Automated computer programs and processes for delivering customer services help e-commerce organizations keep costs down. Social customer service is no longer an option but has established itself as a necessary condition. Whether it is a multinational or a midsize company, when used correctly, artificial intelligence gives every company a competitive advantage over the competition.

8. Inventory management

One of the complicated elements of a thriving eCommerce business is the ability to manage supply chain processes. Efficiently managing store inventory means maintaining the right stock levels without storing idle stock. A good inventory management system based on artificial intelligence is also useful for predicting the needs of specific products in particular seasons such as Christmas, Halloween, etc.

These systems can also identify potential inventory problems, which could disrupt supply levels based on past trends and changes in demand levels.

9. Marketing optimization based on artificial intelligence

When it comes to AI marketing, online business marketers usually leverage machine learning and data analytics to achieve a company’s goals and targets. In this sense, AI is used in market research and fully automated marketing campaigns in real-time. When it comes to marketing and AI campaigns, one of the best practices is to create a strategy to get a clear and sharp picture of the market situation.

If you don’t track the campaign, how do you know if the results are positive? Metrics need to be considered, and KPIs set to track campaigns. It would help if you optimized all marketing trends and share a consistent message across all channels.

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