The outbreak of the COVID-19 pandemic had changed the ways in how people perceive e-commerce. It has become their first choice in acquiring goods and services. While these customers continue to go through online shops, they stick to the platforms which offer them a user-friendly experience. We can see that only such e-commerce portals retain customers and earn a profit in the longer run. When considering the role of artificial intelligence, we can see that it significantly impacts delivering a seamless online shopping experience to users.
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E-Commerce and retail brands are utilizing artificial intelligence to offer better customer engagement. Overall, the AI-driven approach will ensure an intuitive shopping experience for the users at large, and it is not just limited to tech-savvy people. The focus now is more towards intuitive and simpler processes to offer a successful checkout. As a result, global e-commerce sales are projected to touch about 4.8 billion dollars by the end of 2021. Gartner also predicts that artificial intelligence technologies may manage about 80% of these customer interactions without the interference of any human agent.
How intelligent e-commerce works out?
The use of artificial intelligence in the e-commerce industry is now helping to predict the shopping behavior of different people based on when and what they do online. For example, suppose an online shopper tends to purchase a particular brand of rice repeatedly online. In that case, the retailer may send a personalized offer to the shopper for that particular product. Machine learning recommendations will help in cross-selling by suggesting a product that goes well with the rice dishes.
For example, the digital native e-commerce companies like Amazon, Alibaba, Walmart, etc., now leverage the benefits of AI to predict the market trends, optimize their logistics and warehousing set competitive pricing, and personalize their promotions. In addition, some of the artificial intelligence-enabled digital assistants like the Google Duplex tool are now evolving in their capabilities as creating a grocery list for people based on their preferences and even placing online shopping orders by themselves. Other solutions like the Amazon Dash button will further make the everyday purchases of the consumers easier using automated reordering services.
Artificial intelligence to augment e-com customer experience
There is another new wave in e-commerce, which is changing the way how brand-customer engagement is happening as modern brands continue to refine their digital strategies. E-commerce is now the fastest growing and evolving channel, so it does not need some derived insights and the need to provide actionable recommendations in real-time. Let us explore how AI is disrupting different aspects of customer experience by unifying real-time data and incorporating critical business contacts. For incorporating AI benefits to enterprise ecom database management, you may consult expert providers like RemoteDBA.com.
Makeover in customer service
Ai has a big impact on customer service automation by making it hassle-free and swift. The businesses can pre-empt the customer expectations by understanding their history and offering appropriate solutions. This will enhance the overall customer service experience. Conversational AI is used largely in customer engagement now. These are engineered to simulate human-like interactions and give much personalized and immediate responses round-the-clock. This had also reduced the turnover time and errors in handling the customer queries. Conversational AI and virtual assistants can now also answer out-of-the-box questions. Spring is one of the online retailers, which started using the Facebook Messenger bot store to offer a personal shopping assistant. It helps to simplify their shoppers’ journey by assisting them in finding what they are looking for. The ingenuity of the assistant is that it does its work by engaging them in casual conversations. WhatsApp Chatbot integration is also gaining momentum among retailers.
Predictive personalization
It is also helping the businesses emulate user experiences to integrate with the customer’s lives. Smart predictions and customization will make the users feel like each product or be very are custom-tailored for their exact needs. E-commerce companies and retailers can easily understand the shoppers’ inventory and patterns to forecast and deliver goods automatically. This instant shopping experience can convert any page into a quick check-out center and thereby expedite the purchasing process of motivated customers. It is also possible that AI makes shopping a seamless one-click experience with an instant checkout button. It can also adapt this checkout reference and turn new customers into loyal customers irrespective of their preferences and devices.
Use of analytics for discovering high-impact customers
Optimal customer experience can be achieved only if the business remembers their customers and treat them with original consideration through the shopping journey. AI-enabled analytics has the power to sift through larger data sets containing minute and complex details to uncover business opportunities. As a result of this, one can spend time examining these insights instead of doing away with the crucial data available. Analytics led by artificial intelligence looks at each piece of meaningful data and predicts the likelihood of the future behavior of the customers with high accuracy. It can also simultaneously find the drivers and inhibitors in terms of the customer experience. Thus, it will mine a huge amount of data to derive actionable insights with AI. Say, for example, retail banking now uses predictive analytics for visualizing the high impact journey of the customers, which leads to a decrease in savings account deposit reduction, etc.
Forecasting the customer demand
Artificial intelligence will also help to forecast and automate the decision-making of the dealers in real-time. By learning and identifying from the patterns of user data sets across various sources, social media Trends, weather forecasting, customer viewing history, and even facial expression analysis, AI will help the companies to readjust their strategies and gain a better grip on the evolving market environment. In addition, improving forecasting accuracy, machine learning, and computer vision will help in better anticipating consumer expectations and optimizing and automating supplier negotiations.
Artificial Intelligence can also efficiently manage inventory, automate the customer experience, enhance consumer engagement and ensure a smooth sail of the businesses even during adverse times.
Author’s Bio:
Walter Moore is a blogger and digital marketing expert. He is quite experienced in the field of web marketing as well as website designing. He has been working as a database administrator in the IT industry RemoteDBA. His research has helped thousands of users and brands with marketing campaigns too.
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