(Pixabay / mohamed_hassan Image) “Subscription commerce is particularly ripe, especially that focused on product curation and sampling. The frequent repeat nature of a subscription service lends itself particularly well to AI. Your steady stream of preference data is all the fuel it needs to generate smart recommendations. In this regard, Stich Fix is ahead of…
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ML reduced its out-of-stock rates by 80 per cent
“Cross pointed to the fact that Walmart already uses AI to solve ‘last mile’ delivery issues, while German ecommerce brand Otto Group uses a cloud-based machine-learning system that has reduced its out-of-stock rates by 80 per cent. Anyone asking if robots will really take your job is in fact, woefully behind the times – change…
Increase conversion rate by almost 40 percent for products in categories which have 3D
“According to the Cappasity 3D imaging market research, 82 percent of visitors to the product page activate the 3D view, and 95 percent of respondents prefer an interactive 3D representation to video playback. So, it does not come as a surprise that 3D product imaging allows for significant increase in key metrics like conversion rate. “We managed…
Bad UX is costing e-commerce businesses nearly $1.5 trillion globally
“This is a key focus that is being recognized by the industry and brands as a whole, with customer experience consultancy, Walker, revealing that, by the year 2020, customer experience will overtake price and product as the key brand differentiator. Permanent uplift in conversion is a by-product of improving the user experience, which leads very…
51% of Americans prefer to shop online, leading to an average e-commerce growth rate of 23% per annum.
“A notable social media presence also influences up to 56% of in-store purchases. 80% of the businesses to implement chatbot automation to some extent by 2020. Out of 5,000 respondents, 38% rated their perception of bots as positive, 51% were neutral, while only 11% had a negative opinion. According to Forbes, 40% of millennials already…