AI in E-commerce and the New Era of Personalization
As society chases convenience and turns increasingly to online shopping over the traditional brick and mortar retail model, e-commerce took center stage, evolving how customers shop. The idea of a personalized shopping experience for each customer has been around for a long time, but a new era of personalization is underway. One that includes – and requires – artificial intelligence. E-commerce businesses are already embedding AI into their online presence to understand their customers better and elevate the shopping experience. Shop at any major online retailer, and you’ll likely encounter both the trademarks and benefits of AI in e-commerce. In fact, AI is becoming all but essential to success in online retail. Retailers that embed AI in their online shopping platforms are already seeing the benefits:- Improved customer engagement across all platforms
- Increased conversion rates
- Reduced sales cycles and transaction times
- Discovery of new target customer groups
- An elevated, customized customer experience to drive customer retention
How AI in E-Commerce Personalizes Your Shopping Experience
With a new focus on personalization, companies in the e-commerce industry need to be accessible to customers 24/7, providing custom recommendations, content, and support to achieve sales. AI not only lets companies gather essential customer data in real-time, it also enhances the online shopping experience in a way that is increasingly more in tune with predicting customer needs. There are dozens of major retailers innovating in this space, developing powerful AI-based and deep learning solutions to support their sales strategies. Here are critical areas embracing personalization:-
Search Engine Functionality
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Product Recommendations
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Web Interfaces
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Customer Data
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A Device-wide Experience
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Customer Service