“Omri Katz says a common problem when it comes to ecommerce is converting a user into a customer. When someone visits an online store, ‘98% of online users will leave the online store without completing a purchase,’ Katz says.” https://www.google.com/amp/s/www.entrepreneur.com/amphtml/356766
Tag: AI eCommerce
The value of AI to all retailers great and small
“Online, in store, in the warehouse, the opportunities to leverage AI and machine learning (ML) to improve retail operations are compelling – no wonder research predicts that retailers will spend $15.3 billion on AI by 2025, $8 billion more than initially forecasted by the end of 2022. However, before AI can be truly effective in…
Huntington Bank’s new AI-driven tool plugs a savings gap
“Huntington Bank launched an automated savings feature, per American Banker, augmenting its digital banking rethink from several years ago centered around budgeting, cash flow analysis, and goal setting. Huntington’s sweep feature maxes out at $150/week, which adds up to nearly $8,000/year.” https://www.businessinsider.com/huntington-bank-ai-savings-tool-could-have-real-impact-2020-9
The Wild Ride Of Mobile Order-Ahead Apps
“[The] number of food delivery app users could climb 25.2 percent to 45.6 million in 2020 as consumers continue to heavily rely on these services. Eateries that onboarded to MOA aggregator platforms like Uber Eats and Grubhub are now focusing on integrating artificial intelligence (AI) into digital menu boards, while some have turned to cloud-based…
Email Automation Is a Major Ecommerce Revenue Booster
– “Open rates for automated messages saw a 76.25% increase year-over-year.– Automated messages drew a 21.24% click rate, a 15.37% year-over-year lift.– Promotional campaign (traditional scheduled messages) conversion rates increased 5.37%, an 88% year-over-year increase.– The conversion rate of automated lifecycle messages increased to 22.39%, a 63% year-over-year lift and a 335% increase over promotional…