Statistics say that the eCommerce industry has generated an astonishing 2 Trillion US dollars in the past 20 years as a whole. Which technology is behind this?
Undoubtedly, AI-Powered eCommerce is at the back of this!
As industries across the globe are pushing the boundaries of AI, the retail sector is ready to fully embrace the technology too. AI-Powered eCommerce assists to make online shopping easier for you by offering customization, improved integration, enhanced return policies, and other relevant changes.
AI in eCommerce is offering real value to you! It is giving you the ability to capture customer data, an opportunity to enhance the shopping experience and refine operations that ultimately contribute to customer experience.
AI in eCommerce is spreading everywhere; from non-manual cash registers to high tech security verification at subways, airports, railway stations… AI is rising and building a strong niche. It’s becoming irresistible in retail.
Fact Check: AI in eCommerce is constantly booming with a liable revenue to reach $36.8 billion worldwide by 2025
The above graph efficiently elaborates the rise in business with the assistance of AI in eCommerce.
AI-Powered eCommerce has efficiently supported everyone in achieving this goal in real-time. It’s backing the retail industry but in a whole new perspective. Entrepreneurs are generating greater sales regardless of time and hour factors.
Google’s DeepMind is unlocking solutions to thousands and more using artificial intelligence. The recent £400m buying of this start-up shows how much AI-Powered eCommerce is happening.
Facebook, IBM, and Yahoo are not lagging but embracing AI in eCommerce as a new source of business.
You must have gone through loads of articles on the web that anticipates the dominance of AI in marketplaces. Already, many retail jobs are being managed by robots, not humans. Chatbots are one example!
So, how are they going to implement AI in eCommerce? Continue reading our comprehensive guide.
Are you interested in generating more leads? Want to provide remarkable user engagement? Now is the appropriate time to join hands with Commersys.
In this article, you will learn different ways on how AI is playing its role in uplifting the eCommerce business.
Shall we tell some?
7 Modern Ways of AI-Powered eCommerce
Let’s explore the impact of Artificial intelligence on eCommerce:
- Virtual Assistant
- Target potential buyers to enhance your sale game
- AI Chatbots
- Automated warehouse processes
- Augmented Reality
- Visual and Smart searches
- Valuable Insights to learn customer behavior
Are you still relying on Google searches to compare your desired products and prices?
The AI industry has introduced different virtual assistants like Amazon Virtual Assistant that helps you shop your craved products efficiently.
The above mentioned image elaborates the working of Amazon Virtual Assistant to deal with your shopping. Their messenger bots allow you to utilize all your web searches through verbal communication.
Target potential buyers to enhance your sale game
Different surveys have shown that 37% of the market sales are affected due to faulty leads. It relatively means that your potential buyer is still unknown to you. This is because your data gathering method is poor.
For example, modern businesses utilize facial recognition to learn the different behaviors of customers, and it helps in acquiring data that is helpful for their businesses. You can make use of AI to do the same as well as learn custom sentiments after your product is launched.
AI-Powered eCommerce Chatbots
How AI in eCommerce industry is providing 24/7 customer assistance? AI Chatbots are the only reason behind offering you different solutions to your buying problems and on time.
AI chatbots efficiently communicate with you and assist you with text or through a phone call. These are the best human replacements for this job.
Automated warehouse processes
AI-Powered eCommerce involves robotization and optimization. It is being incorporated in warehouses to reduce the costs of different manual operations.
For example, computer vision-powered robots proficiently host Amazon’s or Ocado’s warehouses that can wrap, pick, and distribute items quickly as compared to humans.
This AI technology streamlines the storehouse operations towards increased productivity and efficacy.
The use case of AR in eCommerce website development gives you a captivating experience, permitting you to have a real-like interaction with products while remaining in your environment.
Augmented reality closing the gap felt by you between stores and online shopping experiences.
AI in eCommerce involves giving different experiences to you like Virtual Dressing Room where you don’t have to take the product home but visualize it on a system.
An AR mirror that permits you to see how a piece of cloth would look on you if you bought it.
The most famous use cases of AI-Powered eCommerce platforms are Amazon and IKEA.
Visual and Smart searches
According to the recent stats, AI in the computer vision market is projected to hit an estimated $2584 billion by 2023-2024.
AI has enabled visual search on platforms like Google and Kindle; ASOS to transform the future of eCommerce today.
Smart Search involves turning your search engine into an AI smart engine that tracks your browsing pattern and proceeds with searching the exact item you are looking for.
Valuable Insights to learn customer behavior
AI in eCommerce helps in predicting customer buying behavior. You can devise remarkable marketing strategies using ML and deep learning.
A remarkable customer experience is one of the major cornerstones to run a successful company, and it involves achieving different milestones. Diverse retailers and eCommerce providers now rely on AI to efficiently analyze, assess, customer data, and forecast customer behavior.
AI assists business owners and marketers to examine whether your website is user-friendly or your Chabot’s or automated email answers are engaging enough. It also monitors different money transfer activities and ensures errorless operations, and provides 24/7 user services.
Wrapping it up
The remarkable benefits of AI in eCommerce and online retail that you can enjoy are unlimited. It depends on the particular niche of your business that occupies the market and sets goals to achieve.
This article has covered the modern and specific range of ways to implement AI in eCommerce to gain rapid and tangible results. Commersys efficiently offers expert and reliable consulting and development of custom AI-Powered eCommerce solutions.
Our professionals are available to manage productive solutions that can augment your business strategy and provide teams across departments for assistance.
Contact us now to gain a strong position in the market using the latest technologies.