Artificial intelligence is slowly transforming the Ecommerce experience of merchants. AI predicts the shopping pattern of a customer based on the products that the shoppers buy or wishlist. In the present scenario, Ecommerce has become more competitive, hence for a successful business, it needs to be faster and smarter. This is where Artificial Intelligence comes into use. An Ecommerce collects customer data for constant analysis. This data can be collected, organized, and analyzed to create a change in the marketing strategy using artificial intelligence.
1. Intelligent product recommendations
Personalized product recommendation is a most popular AI technology used among different Ecommerce stores. AI in Ecommerce is impacting customer choices through the previous purchases, searched products, and online browsing habits with the use of big data.
The product recommendation option returns an enormously large amount of returning customers and provides a personalized shopping experience to online shoppers. Product recommendation can also improve the customer retention and sales.
2. Enhanced customer service – Chatbots and Virtual Assistants
Ecommerce merchants are including chatbots or virtual assistants to their store to provide 24×7 support to their online shoppers. With the help of virtual assistants and chatbot technology, a merchant can deliver a top quality customer support experience.
A virtual assistant learns from each interaction. It can process anything and everything that is typed or even said and it processes to a correct answer. The main aim of interaction with the virtual assistant is to have a personalized experience that meets an individual’s needs. Ecommerce can also offer 24/7 customer support to visitors, quickly collect the required data, track a customer’s behavior, and reach seamless brand continuity. With an automated chatbot, Ecommerce sites can tailor the online experience for the customer seamlessly.
3. Sales Forecasting and Inventory Management
With the emergence of COVID-19, sales forecasting and inventory management has become necessary for every business. To avoid shortages or stock run-outs, Ecommerce businesses can now use artificial intelligence for sales forecasting. Merchants make use of AI to predict future sales based on consumer patterns and help decision-makers predict the results of their marketing efforts. AI-enabled inventory management enables a merchant to maintain stocks based on data related to sales trends over the previous years in product demands and potential supply-related issues that could impact inventory levels.
4. Cybersecurity Enhancement
Ecommerce websites have data that can be vulnerable if there aren’t any cybersecurity measures. AI softwares can be used for detection of new threats and quickly detect malware or ransomware attacks on your website before it affects the website. Another threat is the bots, which can steal credentials, create fake accounts or cause data frauds. With the application of artificial intelligence in Ecommerce, we can easily distinguish between good bots like search engine crawlers and bad bots that will cause problems for your Ecommerce store.
Artificial intelligence in Ecommerce is playing a crucial role in providing innovative solutions and greater customer experiences. Some of the
leading use cases of artificial intelligence in Ecommerce are in the area of personalized shopping, product recommendations, and inventory management. AI will help us to improve our Ecommerce platforms to cater to the needs and interest of visitors.