In its Digital Economy Index report released in March 2021, Adobe claimed that 2022 would be the first trillion-dollar year for U.S. ecommerce. The increased adoption of artificial intelligence (AI) fuels this rapid growth, which is reshaping the ecommerce experience of today’s consumers.
From subtle changes like reducing product return rates to more apparent ones like hyper-personalized shopper journeys, retailers across the globe are experimenting with AI for a variety of use cases.
Thanks to the high emphasis on customer centricity, the need for human-centric AI interaction has become a vehicle not just to outdo the competition but deliver in a more open and resilient marketplace. Studies show that 70% of American and European decision-makers in the ecommerce industry believe that AI is a significant change for their business. AI is transforming the ecommerce industry by predicting customer shopping patterns based on purchase history, products searched, and browsing habits, as personalized product recommendations increasingly influence customer choices.
By entering the realm of customer behavior, AI is already assisting ecommerce businesses in online searches, identifying prospective consumers, sensing customer interests, presenting relevant products at the right time, and implementing analytics to broaden reach and customer base. AI is helping global brands like Nike raise the bar when delivering exceptional customer experiences. The iconic brand uses AI algorithms to offer tailored workout regimens and product recommendations as part of its customer loyalty programs.
Continue reading: https://www.digitalcommerce360.com/2022/01/31/how-mid-sized-ecommerce-businesses-use-ai-to-improve-their-retail-strategies/
From subtle changes like reducing product return rates to more apparent ones like hyper-personalized shopper journeys, retailers across the globe are experimenting with AI for a variety of use cases.
Thanks to the high emphasis on customer centricity, the need for human-centric AI interaction has become a vehicle not just to outdo the competition but deliver in a more open and resilient marketplace. Studies show that 70% of American and European decision-makers in the ecommerce industry believe that AI is a significant change for their business. AI is transforming the ecommerce industry by predicting customer shopping patterns based on purchase history, products searched, and browsing habits, as personalized product recommendations increasingly influence customer choices.
By entering the realm of customer behavior, AI is already assisting ecommerce businesses in online searches, identifying prospective consumers, sensing customer interests, presenting relevant products at the right time, and implementing analytics to broaden reach and customer base. AI is helping global brands like Nike raise the bar when delivering exceptional customer experiences. The iconic brand uses AI algorithms to offer tailored workout regimens and product recommendations as part of its customer loyalty programs.
Continue reading: https://www.digitalcommerce360.com/2022/01/31/how-mid-sized-ecommerce-businesses-use-ai-to-improve-their-retail-strategies/
