Applying AI In Ecommerce

1. Make virtual personal shoppers available.

Virtual assistants were addressed in #8, but AI is allowing marketers to construct purpose-built’shoppers’ to assist their customers online(ecommerce business).

In-store buying has numerous advantages that both brands and customers appreciate. For example, a consumer may have the ability to speak directly with a store worker.

They might inquire about a certain item in a specific colour or size. Customers must go through the time-consuming (and sometimes frustrating) procedure of clicking boxes or entering keywords to get these benefits online.

With this in mind, eCommerce merchants must devise new ways to convey the benefits of the physical experience to the online environment.

AI Example of ecommerce company

Flipkart, an Indian e-commerce company, has already attempted to develop human-like capabilities in order to sell smarter to its 45 million registered online buyers.

In fact, the company launched Ping, a messaging service. Ping worked as a shopping assistant at the store until it closed in 2016. The business used artificial intelligence to help clients find the things they were seeking for quickly(ecommerce business).

After only ten months, Flipkart decided to discontinue the app in order to focus on its new ‘user-to-seller’ conversation.

In 2016, department store Macy’s teamed up with IBM’s Watson to produce ‘Macy’s On Call,’ a personal mobile AI shopping assistant. The unique and intelligent mobile solution, which employs Watson’s Natural Language API, was created to provide shoppers with information as they went around ten Macy’s retail stores across the country.

Alexa, Amazon’s home assistant

Alexa, Amazon’s home assistant, is ideal for giving customers with a modern shopping experience.

The days of rushing to the neighbourhood grocery because you’re out of milk are long gone. Simply ask Alexa to place an order for you in the morning.

Under the hood, Alexa will utilise Amazon to place an order on your behalf, with delivery scheduled for the next morning. The fact that Alexa only has to validate your voice pattern to process the order is an intriguing feature. At the command of your voice, a genuine personal shopper appears.

You might also be familiar with ‘Mona,’ a virtual shopping assistant created by former Amazon employees(ecommerce business).

Mobile Shopping

The outstanding and pleasant assistant simplifies mobile shopping by offering clients the greatest and most relevant offers and products based on their preferences. In fact, the more time and effort you devote to communicating with Mona, the better she will become acquainted with you.

Sentient Technologies, the world’s most well-funded AI firm, is also using AI to enable in-the-moment customization, which boosts merchant engagement and revenue per customer.

AI will play a larger role in making decisions, developing predictive solutions, and giving insights, according to the company, and society will become much more efficient as a result.

Sentient allows people to see and buy goods they were previously unaware of or didn’t even know they desired. Virtual personal shoppers are a perfect example of how AI is utterly changing traditional consumer engagement strategies in the eCommerce industry.

2. Collaborate with artificial intelligence agents.

Following the advancement of artificial intelligence and agent technology, new intelligent agent negotiating systems have become a prominent tool in eCommerce.

The automated agent has three key responsibilities: matching buyers and sellers, facilitating transactions, and providing institutional infrastructure(ecommerce business).

The agents’ behaviours are totally automated, yet they have complete control over them. They have their own communication language and are capable of not only reacting to their surroundings but also taking initiative, such as setting their own goals.

It’s AI at its most brilliant, and they’re finally applicable to eCommerce.

3. Create a tool for ‘assortment intelligence.’

Retailers are being forced to adjust their pricing tactics as a result of customer pressure. As a result, multichannel retailers must be flexible when it comes to price structuring in order to keep customers.

Retailers are turning to assortment intelligence, a tool that provides an unparalleled amount of visibility and useful insights on competitors’ product assortments 24 hours a day, seven days a week.

Businesses can track their competitors’ product mix, which can classify through product, brand, and overlap %. This clever technology then allows firms to fine-tune their own product mix and pricing with pinpoint accuracy.

A significant competitive advantage that provides total visibility into the market’s product offerings. Retailers may use the sophisticated software to make particular selection and planning decisions, as well as track the commercial effect of those decisions.

4. Find a way to reconcile customization and privacy.

When it comes to talking customisation, there is frequently a trade-off with user privacy concerns. In recent years, user privacy has been a hot topic, with its importance being emphasised more than ever.

Brands are actively working to raise the bar on openness, security, and honesty. However, considering its crucial position in any successful e-commerce endeavour, marketers cannot afford to sacrifice consumer customisation in order to achieve this.

So, how can eCommerce merchants address this issue? Artificial intelligence, according to many brands, is the answer.

Users are more willing to share their information if they know they will receive something truly worthwhile in exchange.

Google Now

If you provide Google Now access to your account, for example, it will sync your calendar, emails, and search history.

It will greet you each morning with a brief summary of what you have on your plate and will notify you if you are likely to be late to work due to a train cancellation.

Amazon’s Alexa is using same magical approach in everyday life. The modern shopping assistant prioritises your daily routine and also assists with household duties. Amazon recently added the necessary intelligence for Alexa to make purchases on your behalf.

So, what’s the final outcome?

Source: ecommerce business , ecommerce store