- “80% of Brazilian consumers buying goods or services online would accept recommendations from an AI-driven system to support their decision making, while 20% are happy to fully delegate the choice to the platform.
- When it comes to Brazilians who frequently shop online, the percentage of those who would delegate the choice to an AI robot rises to 32%
- 19% of the Brazilian e-commerce users polled said that there is more effort involved in interacting with human advisors”
“Can we call AI a game-changer in the world of eCommerce? Well, AI is a trending concept that supports all modern technologies. With the fastest succession of technological breakthroughs, AI is rapidly revolutionizing the eCommerce industry as a whole.
- Creating Customer-Centric Visual Search
- Chat Bots
- Retargeting Potential Customers with AI
- Optimizing eCommerce through automated online merchandising
- Machine Learning delivers relevant shopping experiences
- Optimizing Entire eCommerce Site
- Delivers value in real-time
- Promotions and demotions”
“So much so that it was recently reported that they (Amazon) have more than a 30% share of the UK’s ecommerce market.
Here are just a few of the practices of Amazon which can be emulated by SMEs through investment in an ecommerce personalisation platform.
- Personal references – ‘Hello John’
- Recently viewed – link to their recent browsing history
- Intelligent search – predict what products their customers are searching for as soon as a letter is typed
- Recommenders – recommend other products
- Product Recommendation Types – bundling recommendations into many different types
- Cross selling and upselling – suggests additional purchases”
- “Monetate, a Conshohocken-based company whose software personalizes online shopping for customers, announced Thursday that it is being acquired by Kibo, a Dallas-based rival.
- Kibo, which employs about 265 people, provides cloud-based software for online commerce. In February, it acquired Certona, a recommendation engine that also uses AI to streamline e-commerce sales. Kibo’s client base includes about 600 business-to-business and consumer retailers and brands, according to the company.”
Stephen R. Collins
- “Reportedly, brands who have recently adopted AI for marketing strategy, predict a 37 percent reduction in costs along with a 39 percent increase in revenue figures on an average by the end of 2020 alone.
- According to a 2019 study by Forrester and Albert, only 26% of marketers are making use of autonomous AI, while 74% take a more manual approach with assistance from AI.”