With the increase in the development of technologies, AI has taken over e-commerce with ease. Research shows that 95 percent of customer’s interaction will be powered by AI by 2025. GroupBy software is a provider of e-commerce search and merchandising solutions. The company offers tools for search, navigation, merchandising, search engine optimization (SEO), and search as you type (SAYT). GroupBy Inc. serves customers in the United States and Canada.
Here are five points to show how AI is revolutionizing e-commerce:
Deepens customer loyalty:
“Online payment will continue to play an ever-growing and significant role in the development of e-commerce as well as the stimulation of consumer demand,” said Lucy Peng, Executive Chairwoman of Lazada Group, an international e-commerce company founded by Maximilian Bittner with the backing of Rocket Internet in 2012, and owned by Alibaba Group.
Taking the help of Artificial Intelligence can be very effective for your online business as it has the ability to process millions of customers’ data quickly. You can use AI to personalize the experience according to your shoppers and when your customers are able to feel a better experience in shopping from your business then they will become loyal to your business, also it will increase the product sale of your business.
A study shows that businesses that take the help of e-commerce to personalize their customer’s experience are able to grow three times faster than other brands.
Helps you make more sales:
Taking the help of Artificial Intelligence will be able to analyze your customer’s previous order history and use that data to personalize and improve your product recommendations. This can offer customers better recommendations for the product they are searching for and will make their shipping experience easy and fast. Well, the product recommendations can help to generate 31 percent of your e-commerce revenue.
Lowers costs:
Well, it is true that the Artificial Intelligence tools that you are going to use for your e-commerce business are not free but they can help in reducing your manual process and also it can lower the cost of your employees, and make your business run more effectively. You can use AI to create a virtual helpdesk that can process millions of customer complaints and also will be able to suggest a suitable response.
Improves your data:
As we already told that AI can process millions of data at a time and it is able to manage multiple tasks at a time. This data processing ability is the most demanding point of AI. Artificial Intelligence uses the help of Machine learning and Natural Language Processing (NLP) to gather data and filter them according to the needs of your e-commerce business, all from product promotions to supply chain management.
AI can help your e-commerce sale to increase about 30 percent higher than other businesses.
Enables smarter marketing:
AI can help you to make faster and intelligent marketing for your e-commerce with the deep search of lots of customer data so that you can attract your potential customers.