In recent years artificial intelligence has become one of the most commonly discussed topic in terms of technology. With the help of AI businesses now have new innovative solutions for their problems. You can stay on top of market trends simply by implementing some basics into your ecommerce business. The integration of AI has increased majorly, and they are expected to reach new heights globally in terms of revenue by 2025.
With these statistics it’s quite obvious why AI is getting integrated into the ecommerce industry. Now that businesses have developed and there is a possibility of sale 24/7, businesses need to be able to provide their customers with service every hour of the day. A lot of businesses have already adopted AI in order to ensure that their online business succeeds, and there are many more that are already aware of its benefits and are planning on using it for their stores.
How can you implement AI in your Ecommerce Business?
Artificial intelligence can be integrated into your online business in a number of ways, including the following:
Search Engines (Visual)
In the Ecommerce Sector, most visual search engines are now using artificial Intelligence. Because of this integration, the users can now search for whatever they want easily, simply with a click. AI provides the customers with a visual representation of the products that they are looking to buy, and the imagery is favorable to them over the text forms. With visual imagery, available buyers have a better idea about the size, weight, and quality of the product that they are going to be paying for. This way online marketing consulting is improved as AI helps the business in boosting their consumer experience.
The main focus of Artificial intelligence remains in providing the consumers with assistance and solutions that are both helpful and interactive. There are certain AI’s offering real-time assistance on some e-commerce stores to the customers, these voice assistants help the online business a lot because they improve the overall experience of the customers.
Everyone is familiar with popular virtual assistants like Alexa, Siri, and Google assistant nowadays. With the help of virtual assistants, the interaction between the users has become much easier.
More and more businesses are now looking to add virtual assistants to their e-commerce business platforms. Once integrated these VA’s can pick up what the user’s language is and what they are saying. Due to these virtual assistants, the way that users navigate online stores has changed completely.
Pricing According to the Market
There are a lot of retailers that are now practicing dynamic pricing on their products. They change the price of their products according to the market demands. Prices fluctuate depending on how well the market is receiving the products, if you have the data required to unfold any hidden potentials you would be able to use it to predict what the perfect time is to offer a discount or to calculate when it is better to offer the least amount of discount. Through artificial intelligence, all of this is made possible because it allows you to study customer and sales data of your competition.
In artificial intelligence, dynamic pricing is a new trend and there is some hesitation from the people in the e-commerce sector about trusting and integrating it.
With artificial intelligence you can understand your consumers by their texts, mails and pop ups. AI will track the behavior of the users to gain a better understanding of the consumers. Besides the contents of the store other products in which the users are expected to be interested are also put on display in the form of advertisements and images on different search engines and social media platforms. This kind of tracking is also performed by the AI that is included in ecommerce sites, it helps in boosting the rating and reviews of the website.
Artificial Intelligence provides a number of services and that too at very affordable rates. AI benefits both the users and the business, for the user it works on enhancing the user experience where as for the business it automates the procedure of sale. One of the most cost effective AI solutions include chat bots.
Chat bots work amazingly in ecommerce, they are great for interaction with customers. They are used to answer any questions the customers might have.
With chat bots businesses have benefitted greatly since they are able to save the money they would otherwise have had to have spent on hiring customer service providers. The best thing about chat bots is that not only are they customer centric but they are also able to answer questions and queries in real time, their response time is better than what could be possible with a person on the other end.