2017 was a year when Amazon CEO Jeff Bezos became world’s only $100 billionaire! Is it AI that helps to sell more, during Black Friday, made him the richest man in the world?
Since AI is rapidly growing up, big companies such as Amazon & eBay are integrating AI technology into their business in order to beat competitors and, in fact, make more money!
Almost 10% of all purchases are made online which is why today we’ll talk about e-commerce and how AI may boost your sales in 2018.
To begin with, when we try to order an item online, we have tons of questions because we want to make sure that it’s worthy to buy.
Firstly, we try to find out whether it’s available. After that, we want to make sure how much does it cost, proper size, color etc. Usually, we do it by ourselves investigating online store (sometimes it may take even hours which is pretty annoying). However, companies such as Amazon & eBay implemented a few tricks that help you to order faster.
Chatbot
Just ask any question in chat and AI chatbot will answer it! Is the item available? What colors are there to choose? How much? I want to buy a similar item but for less money. May I book those items now and buy later?
Those are questions that AI chatbot will easily answer and do for you in real time saving your time instead of receiving annoying emails, endless clicking on the online store. We all know how it makes us angry.
Besides, it’s not just English we’re talking about. You can ask questions in any language you like (Spanish, Russian, English, German etc).
A great example is eBay’s New AI Shopping Assistant ShopBot and Amazon Lex. By the way, you can also integrate second into your store.
Сlient search results and recommendations
People don’t buy something they don’t know or never saw which is why it’s a key to success when your online store can make recommendations.
Once you’ve purchased an item or tell chatbot your preferences, an online store will give you recommendations.
Meaning once you mentioned that your size is M, you don’t wear white color and like silk material, AI will remember your wishes and show you Items with size M, no white color + silk based clothes.
It is interesting to note that Amazon’s recommendation engine drives 35 percent of total sales.
Photo recognition
What if you’ve noticed a lovely sofa, jeans or toys for your kids and now want to buy it. The thing is almost impossible to find an item when you don’t know the name or brand. Turns out now a lot of e-commerce solutions have photo recognition feature that instantly finds any item online for you to buy it right away.
eBay added such a feature this summer. With over 1.1 billion items catalog eBay now let you find your favorite stuff in a sec having only a picture!
To sum up
AI may not only increase your profit but make you a leader in the market just as Amazon and eBay.
It’s all not about implementing as much cutting-edge tech as possible. It’s all about connecting customer and product, saving client’s time, offer him recommendations and make his purchase process look like a pleasant time spending, not hours when he/she struggle and get nervous.