AI is beginning to touch every aspect of our life, even eCommerce. It’s already there and you might not have noticed it. Those self-checkout cash registers we see at retail outlets are built on AI! There is a bit of AI everywhere in eCommerce.
It’s plain to see that Artificial Intelligence will accelerate in the next years, with organizations such as Google and Microsoft are already heavily investing in AI technologies. And so, eCommerce companies have started tapping into the power of AI to better understand their customers, create new leads, and improve customer service. Even a simple search query like Cox cable packages in your zip code has a bit of Artificial Intelligence involved.
But the question is, how do they accomplish this? How is AI impacting eCommerce and app development? Continue reading to find that out.
1: Effective Retargeting
According to Conversica, the sales staff does not follow up on at least 33% of marketing leads. This means that pre-qualified buyers who are interested in your product or service will inevitably fall through the cracks.
Furthermore, many firms are overburdened with unmanageable client data that they use sparingly. This is a treasure of information that can be used to improve the sales cycle. How can artificial intelligence (AI) be utilized to improve a customer’s purchasing experience?
Face recognition is increasingly being used by certain firms to track client dwell durations in physical stores. This means that if a consumer spends a significant amount of time near a certain product, such as an iPod, the information will be saved for future visits.
As AI advances, we expect customized offers to appear on the customers’ displays depending on their time spent in the store. In other words, omnichannel businesses are beginning to improve their remarketing capabilities. With firms reacting directly to customers, the face of sales is changing. It’s as if corporations can read their consumers’ minds. This is happening because of AI and data.
2: Improved Checkout Process
18 percent of online shoppers abandon an order because they don’t want to go through a difficult checkout process.
Imagine if you improve the checkout process and allow these customers to complete their purchases! This is possible with the help of AI. Not only do you get to increase sales but also offer a pleasant shopping experience. AI can actually help retailers to collect customer insight into the check-out process for predicting patterns, identifying any frictions in the checkout, and making the necessary improvements.
3: Personalized Product Recommendations
Personalized product recommendations are becoming increasingly popular in the retail and eCommerce industry. They are a significant part of upselling. An eCommerce app powered by Al allows customers to show product recommendations based only on the customers’ previous orders as well as web browsing behavior. An AI-powered recommendation engine in your eCommerce app can help you accomplish. Your customers will be able to make quick purchasing decisions and this will increase your ROI.
4: Prompt Support Via Chatbots
Chatbots are refining traditional customer service to a great extent. They can rapidly connect with customers and provide a solution to the problem right away. Whether it’s some information about a product or supporting them in completing the purchase, a chatbot can handle it all.
These AI-based customer service representatives have proven to be extremely advantageous to eCommerce businesses because they no longer require a large staff of people to provide 24/7 customer care. AI-based chatbots can answer customers’ questions around the clock and deliver an exceptional shopping experience.
5: Tackling the Counterfeit Product Problem
Large retailers, such as Amazon, frequently come across counterfeit product issues. Customers end up buying their first copy or cheap quality products from shady vendors as a result of this. Artificial Intelligence-enabled eCommerce apps can help solve this problem by detecting low-quality products using picture recognition as well as deep learning. How? AI looks through certain metrics such as merchant reputation, reviews, and behavior data to make a decision and churn out the shady providers.
It’s nearly impossible to do that manually, especially when you have thousands of products in your catalog. AI-enabled eCommerce solutions can successfully handle this issue.
6: Better Security
An eCommerce app needs to be just as secure as an eCommerce store. You are responsible for securing your customer’s data, and their payment credentials, and building trust with customers by handling their data with care.
AI’s high privacy and security standards can make online shopping via eCommerce apps secure by making customers feel secure.
Summing Up
Creating an AI-powered app eCommerce app will require an eCommerce strategy that allows you to follow a systematic approach, provide a seamless shopping experience and increase your business’s ROI.
This is just the beginning. AI is likely to have a significant impact on the eCommerce industry in the following years. Not only will it change but improve the way consumers search for a product and shop online.
