Three E-Commerce Hacks To Stay At The Top Of The Game

  • “If you’ve been sitting on the fence, waiting to see how the AI trend played out, now is the time to step off
  • At least 5% of digital commerce orders will be predicted and initiated by AI by 2022
  • Talking about conversational commerce: customers increasingly want to navigate their online shopping experience through dialogue
  • And although AI is maturing quickly, it’s still an area of differentiation for SME e-commerce businesses as long as you move fast.”

https://www.google.com/amp/s/www.entrepreneur.com/amphtml/329184

4 Signs E-commerce Brands Will Leverage AI and Bots in 2019

“Indeed, recent data shows that despite brands receiving up to 393 percent more customer service requests during the holiday season, they were able to decrease time to resolution by 15 percent through using automation technologies such as bots.

1. Chatbots are being integrated into product discovery, purchase and customer service

2. AI can provide offers and pricing in real time

3. AI lets you predict buyer behavior based on the weather

4. AI and automation for customer service helped brands lower resolution time during the holiday season”

https://www.google.com/amp/s/www.martechadvisor.com/articles/ecommerce/4-signs-ecommerce-brands-will-leverage-ai-and-bots-in-2019/

Coca-Cola Is Embracing AI and Chatbots in Preparation for a Digital-First Future – By Marty Swant

Image credit: adweek.com

“I hear you’ve been testing AI-powered vending machines.
  • We’ve also looked at some forms of AI in terms of optimizing how our vending machines are placed and where they’re placed to ensure we’re meeting consumer demand based off of patterns and things of that nature. I would say it’s been a lot of trial. The Coke On app has been incredibly successful; it’s approaching 6 million downloads. People are using it with great frequency.

You’ve also been experimenting with chatbots. How are they doing?

  • It’s very much still in its infancy. What we were trying to explore was [how to] effectively use chatbots in serving scenarios. We know that consumers find there is great convenience in being able to find quick answers or to address thoughts that they have. So we’ve tested a little bit in that space (such as using chatbots in the vending machines), but haven’t gone as far as creating highly brand-centric chatbots. We think there’s a lot still to play out there. Frankly, we’re already focused on the voice element.”

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ai eCommerce News Oct 18

  • “eBay ShopBot, which launched in October 2016, was an attempt to battle the ongoing decline in eBay’s gross merchandise volume and to increase marketplace awareness. RJ Pittman, the Chief Product Officer of eBay, said in an interview with Forbes that Shopbot had created an opportunity for eBay to reach a new group of shoppers through Facebook Messenger, one of the top messaging applications.
  • According to a recent BI Intelligence report, more than 200 million users in China have added payments information into WeChat, a popular messaging application, and WeChat’s parent company now holds 37% market share of the Chinese mobile payment market.”

  • “Mobile marketers face a challenge in converting browsers into paying customers, especially compared with consumers who use desktop computers to make purchases. Conversion rates on desktop are more than double that of mobile, 3.35% on desktop vs. 1.61% on mobile, according to Qubit’s analysis of 35 fashion and cosmetics brands since 2017.
  • Some retailers have looked at integrating visual search as a way to drive mobile conversions. By leveraging AI to make it easy for mobile users to discover new products and make a purchase, Qubit hopes to address the challenge for e-commerce retailers hoping to convert new customers. Early testers are optimistic about the potential, with Wolf & Badger, which has over 30,000 products on its site, reporting it is seeing conversion rate uplifts of 3.6% on mobile after implementing Qubit Aura.”

  • “Ometria, a customer marketing platform which says it’s “AI-powered” has raised $6m in Series A funding. US-based Summit Action led the round, along with an investment syndicate backed by individuals with roles inside some key retailers. Ometria has now raised a total of $11m to accelerate the development of its customer marketing platform, which, it claims, enables retailers to send individually personalised marketing messages across several brand touchpoints.
  • Ometria’s main competitors are spread across companies like email service providers (Emarsys, Sailthru, Selligent, Bronto, Dotmailer), behavioral marketing tools (CloudIQ, SaleCycle, Yieldify) and customer insight companies (More2, AgileOne). Its argument is that none of these companies were developed specifically for retail, or to create and use a unified predictive profile of each customer.”

  • “Despite all the media buzz about artificial intelligence (AI) and connected commerce reshaping the retail world, nearly half of retailers with an online presence are not yet using these tools — and moreover, many of them have no plans to start. That’s according to an eCommerce “Performance Indicators and Confidence Report” by SLI Systems, which, on a quarterly basis, surveys more than 200 mid-size retailers with a range of business models to gauge where eCommerce may be moving in the near future.
  • And, when only approximately 20 percent of the consumer base owns or has used a voice-activated assistant for shopping, perhaps retailers’ reluctance to invest in these technologies is prudent. Why dump tons of money into making things a little easier for one-fifth of the population, when those budget dollars could be serving the 58 percent of consumers who have not tried — and don’t plan to try — voice shopping?
  • The numbers seem to indicate that all the hype about AI in retail may be just that: hype. But, SLI believes there’s another word for these middling adoption rates: opportunity.”


Retailers & AI – CSA

“In a move to step up their customer experiences, more retailers are embracing artificial intelligence (AI). This was according to the third quarterly ‘2017 E-commerce Performance Index,’ a report from SLI Systems.
  • 54% of companies reported they are using or plan to add AI in the future
  • 20% expect to add AI within the next 12 months

The most popular applications for AI — among both existing retail users and those that plan to use AI within the next 12 months – are:
  • 56% – personalized product recommendations
  • 41% – customer service requests
  • 35% – chatbots

Of those planning to implement AI:
  • 13% plan to build their own technology
  • 60% will buy existing technology
  • 27% expect to blend build and buy”