E-commerce is adapting and exploiting AI to its advantage. As shoppers go on with their business online, the servers are installed with ML and AI to record and learn a customer’s preferences. They use this information when they shape ads you will be receiving, and when shopping, you would be receiving suggestions that could be helpful.
Artificial intelligence is slowly becoming part and parcel of the community, with its usage being spread to almost every sector of the economic and social society aspects. These are, for instance: social media, mobile services and shopping sites.
AI for customer support:
AI has been used to mechanize customer support. When a client encounters a difficulty, the reasonable thing would be to contact the company to air their grievances. The customer would first have to speak to a robot that would solve some easy and common problems. If the problem is advanced, you would be connected to a human customer assistant. This reduces the jams at the help desk as the robots solve a majority of the problems.
AI in the shopping sites:
AI now operates shopping sites. It aims to provide the highest possible satisfaction to a customer. With the stiff spiking competition between retailers, the is an increased need for giving a client the best experience possible shopping with your shop to keep and attract more.
To remain on top of the competition, a seller must prioritize this, knowing every customer’s wants and budget even before they search. AI makes this an easy task as it learns from the client’s regular patterns, reducing the tedious task of looking for an item from a million other goods.
In 2019, research on Australian markets showed that 9.2% of Australia’s retail trade was done online. This translates grossly $30.14 billion. This is a significant figure, and it adds that from 2018, e-commerce experienced a 9.4% growth. An estimate done by Statista shows that 20.9 million Australians would be doing their shopping online by the year 2024.
Population rise would mean an increasing potential market, and retailers are exhausting all possibilities to control the market and AI and ML are super ammo. They are doing all possible to ensure the perfect customer service for the positive feedback and keep a blissful reputation.
Customer engagement at a personal level:
By creating a suggestions page tailored for the customer and the customer alone, the customer would feel special and notice that they are important and impact the firm. As their data’s security is assured, the customer feels comfortable even buying sensitive goods as no one would ridicule their choices.
Whenever a shopping site randomly posts their goods without personalizing, 71% of consumers are disappointed and would point it out. 80% of buyers would return to buy from a seller who personalizes their goods according to customer history.
Personalizing suggestions is all thanks to machine learning and AI.
AI also aid sellers in predicting future market curves on demand and supply. AI-powered analytics with average order value (AOV) trends help sellers tell the impact of sales events and advertisements target market, location and season.
With this tech, sellers would never be caught offsite by a surging demand that they can not keep up with or a surplus production.
Retrieving clients through AI
AI and ML are also useful in retrieving the lost sheep. It also fetches a new market. How you contact or recontact a client can be a two-sided sword. Either it will gain a new customer or get a negative review which is bad for business.
With the right AI, this would be a piece of cake as it understands the customer and would, by all means, use enticing language, which would surely capture a customer’s attention. It uses RFM (radio frequency monetary value) to divide into retrievable basing on customer’s habits.
AI and ML are slowly but surely taking centre stage in e-commerce.
Conclusion
Data science techniques, such as machine learning, artificial intelligence, and deep learning, have practical applications across industries and business functions. Many successful companies, such as Amazon, Google, and Facebook, utilize data analytics to unlock and scale business data.
If you’d like to learn more, why not speak to us directly? Call us on +442034416513 or visit our website on www.cxportal.com, and we’ll help you in any way we can.
Jones Anderson
CXPORTAL is your award-winning AI, ML, SAP Commerce Cloud and eCommerce digital transformation solutions provider, CXPORTAL is specialised in Innovating business strategy, design and development of digital products, digital platforms engineering and data science solutions. CXPORTAL Leverage Artificial Intelligence, Machine Learning Algorithms, Deep Learning Models, and big data Analytics to unlock and scale your business data, and optimising the operating model for exponential business impact.
