ai eCommerce News Aug 6, 2017

“Marketer interest in voice search is downright palpable in some circles. Fresh off a tour of client visits in Miami, Dallas, Chicago, Washington, D.C., and St. Louis, 360i’s Belsky reports that ‘every CMO, every vp of marketing and, especially, every ecommerce client is asking about this subject first and foremost. And they have three questions. ‘What should I do to prepare for when voice is the driver of ecommerce?’ The second one is, ‘What content do I have to think about to increase my chances to be the preferred answer with these devices?’ And, ‘Will all my search budget one day migrate onto these devices?’ There’s not obvious answers to any of these questions. Being early to all of this means you get the spoils.’”
“It’s time to talk cash. The research shows consumers are ready to spend real money while interacting with a chatbot. On average, millennials (26 to 36 years old) would be willing to spend $618 via a chatbot… According to the study, One in five (21%) UK consumers would consider purchasing goods and services from a chatbot.’ This is a goldmine for ecommerce businesses looking for new ways to attract, entertain, and monetize an audience. It’s no wonder giants like Walmart are using AI to enhance a shopping experience, and it’s just the beginning.”
“The answer lies in the reliability of retailer data. McClure explains that this was one of the first problems the company encountered. “One retailer might give us amazing data and another could give us the same set of products but with awful data,” he said, continuing, “We use a text based classification tool, training various models with both positive and negative examples…However, he does note, when discussing the calculation of customer lifetime value, that “having your data in the right format” is key. As retailers seek to improve their data infrastructure and use reliable data, the machine learning part is much more achievable.”

Payment processor PayPal (PYPL) has participated in a $5.27 million financing round for e-commerce technology firm Cloud IQ. Cloud IQ has developed an online platform to help websites more efficiently convert visitors to paying customers. PayPal is beginning to increase its investment pace in new technologies and startup companies, something with which I strongly agree, as the financial services industry continues to evolve at an increasing pace.

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