Why AI is the intelligent option for ecommerce

Mylo Portas, head of retail, Peak
  • “Our own retail industry report found that, on average,  e-commerce  companies using AI enjoyed 18  per cent  year-on-year  sales growth in 2017, 30  per cent  more than those that were not using AI.
  • The median gross profit margin for companies that use AI, meanwhile, was 50  per cent  higher than those who weren’t (48  per cent  vs 32  per cent.)
  • Becoming an AI-driven retailer has also led to a 75 per cent reduction in cost per social click during a recent trial.
  • The result has been a 27 per cent increase in sales, while also reducing operational costs by 35 per cent.
  • Our report found that, when companies use AI, the median number of stock days was 43—a 9  per cent  reduction on the 47 median stock days of companies not using AI.”

https://www.google.com/amp/s/www.digitalcommerce360.com/2019/02/22/why-ai-is-the-intelligent-option-for-ecommerce/amp/

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