3 WAYS AI IS TAKING E-COMMERCE TO THE NEXT LEVEL

With the current status of the online marketplace, e-commerce has become more saturated and competitive meaning that for a business to succeed, it needs to be faster and smarter. Take building websites, for example. Whereas before, you would have to hire a web designer and pay thousands of dollars to have a professional website, now you only need an AI website builder to produce your website for you within minutes. Customer and visitor data is all around us, constantly collected, and always important for businesses to analyze. But what if we could collect, organize, analyze, and then put that data to work for us in an even more efficient manner? Well that’s exactly where AI comes in, and it’s changing up the online marketing game in a big way.

And How Will This Influence E-Commerce?

1. Chatbots

Have you ever used that handy “chat now” box when shopping online? Chances are, when you were chatting with someone online, you were actually talking to a bot programmed to help with any questions you may have; and honestly, it’s getting difficult to even tell the difference! With new chatbots on the market, the chatting experience is becoming more personalized, branded, and intelligent.

Now e-commerce shops can offer 24/7 customer support to visitors, quickly collect valuable data, track behavior, and reach seamless brand continuity—all through AI’s machine learning and advancement. With an effective, automated chatbot, e-commerce sites and retailers can further conversion rates by tailoring the online experience for the consumer without having to do any extra work.

2. Customer Relationship Management

With the help of AI, the days of aggressive re-marketing and focusing on amount of ad exposure will be long gone. The new marketing era will be able to focus on quality and directing more relevant advertising to the right visitors at the right time. On top of making things easier for you, these advances are also going to improve the overall experience of the customer too.

What’s that I hear? I don’t know about you, but that definitely sounds like higher conversions to me.

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3. Inventory Management

Similarly, AI’s predictive analytics are making big waves in the world of inventory management. If you’re reading this and you’ve ever worked with the constant pain of keeping inventory up to date, shelves stocked, and keeping an accurate track of everything, you’ll know how much an absolute nightmare inventory management can be. Traditionally, inventory management used a hindsight perspective; however, we all know that what was is not the best metric for determining what is in the dynamic e-commerce marketplace.

AI technology allows shop owners to get important information about factors driving demand and predictive analysis for what future demands are likely to come into the market. Based on how machine learning works, the longer you use your AI buddy, the smarter it will become for your business as it learns more about your company, customers, and visitors. Thanks to advances in AI, shop owners will be able to more accurately predict both real-time and future inventory needs for their business.

Reference: Internet.