Ecommerce is responsible for 8.3 percent of all sales currently made in the United States. According to the research firm of Forrester, by 2017 online sales will be 12.9 percent of all retail sales. Many businesses are using ecommerce personalization to increase sales and try to effectively compete with Amazon. Amazon is expected to gain almost half of all sales made online this year.
Artificial intelligence, or AI, is improving the consumers shopping experience with enhanced customer service portals, and ecommerce personalization. This is giving some of the power back to the smaller businesses. Consumers receive efficient and expedient support while finding the best prices through ecommerce. Merchants save money by using augmented analytics instead of employees. AI provides a better experience for consumers.
AI has made sales techniques more sophisticated and ecommerce focused. AI platforms are driving sales as they help consumers find more products. Voice input technology asks consumers questions to assist them in locating the right product. This technology can scan entire catalogues to find the ideal match, and takes ecommerce personalization to a new level.
Search boxes have become common for consumers searching for specific items, and quickly provide results. Visual search is a new modality powered by AI, and evaluates the image provided by the consumer to locate comparable products. Voice searches are increasing in popularity, with voice assistants capable of accommodating every type of search. According to ComScore, half of all searches will be activated by voice by 2020.
Ecommerce personalization has become a major factor for consumers. AI analyzes tremendous amounts of data faster, and more efficiently than humans can. This provides new technological insights for businesses, and drives sales. This encompasses customer patterns, likes, dislikes, and purchasing habits. A variety of behavioral metrics are applied specifically to enhance ecommerce personalization for a greater level of customer satisfaction. The advancements in AI technology are giving critical insights to businesses regarding the behavior and preference of consumers. This allows ecommerce pages to offer items that exceed the expectations of the consumer, and increase satisfaction and sales.
AI is currently revolutionizing the entire ecommerce industry. Businesses are being given affordable and unique new ways to reach their potential customers, and successfully woo them. This is giving power back to the small online stores, and they can successfully compete with the Amazon giant. The playing field is being leveled by ecommerce, and this is good news for both the buyers and the businesses.
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