How small and mid-size ecommerce retailers can take advantage of AI — without tech giant-level data
Brandon McGee
“Stuck indoors, shoppers across the world went online in 2020 — and stayed, with sales growing by 28% worldwide.
‘While 9 out of 10 consumers say they expect online shopping to be equal to or better than in-store, half are experiencing crushing disappointment, and almost three quarters of customers say they will abandon a brand after three negative experiences.’
consumers are frustrated by confusing website navigation and by inadequate search functions, sabotaging their efforts to find the information or the products
Hearts on Fire, a leading global diamond jewelry brand…saw its B2C ecommerce purchase conversion rate increase by 587%, average order value increase by 49%, and bounce rate decrease by 31%
Caleres owns and operates such popular shoe brands as Famous Footwear, Dr. Scholl’s Shoes, and Naturalize…saw a 20 – 25% lift in conversion rates for customers using search
‘Personalization is no longer a nice-to-have, but a must-have for ecommerce brands and retailers,’ Greco says. ‘Bottom line: all serious players spare no expenses for AI research. It’s important, it makes the difference, it is worth investing in it.’”
