By 2023 Chatbots could drive sales of…

Sales From Chatbots Could Reach $112B By 2023

  • “Juniper Research estimates that retail sales stemming from interactions with chatbots are set to reach $112 billion by 2023.
  • The firm also noted that chatbot interactions are set to skyrocket from a forecasted 2.6 billion in 2019 to 22 billion in the same time frame, Retail Dive reported.
  • The report indicated that retailers can foresee cutting costs of $439 billion per year in 2023, up from just $7 million in 2019.
  • In a press release highlighting the research in July of last year, Juniper said the cost savings from chatbots would hit $6 billion in 2018″

https://www.google.com/amp/s/www.pymnts.com/news/retail/2019/chatbots-sales-artificial-intelligence-juniper-research/amp/


https://www.forbes.com/sites/blakemorgan/2017/03/21/how-chatbots-will-transform-customer-experience-an-infographic/#6029dc667fb4

6 Lucrative ways to leverage big data – Linnworks

I’d like to share this infographic produced by Linnworks titled “6 Lucrative Ways to Use Big Data in eCommerce.” They’ve done a really nice job and the content is well written. The only potential gap is the fact that they don’t mention the importance of AI (artificial intelligence) and the role that it plays in leveraging big data to accomplish the 6 goals. You’ll notice that both retailers (Amazon and Walmart) and every company generating the data (Google, Facebook, YouTube, SnapChat) are all of the forefront of developing and implementing AI technology. The power and the lift is generated by combining AI + Big Data.
Used_6-lucrative-ways-to-use-big-data-in-ecommerce-infographic

2.3 trillion dollars which is likely to grow by over 246% by 2021

“The ecommerce industry has seen tremendous growth in the last decade and it doesn’t look to slow down anytime soon.

2017 alone favored global retail e-commerce sales to the tune of 2.3 trillion dollars which is a trillion dollars extra to what it was in 2014. This figure is likely to grow by over 246% by 2021.

Blockchain, which is one of the most reformative technological inventions of the fourth industrial revolution has already disrupted several major sectors including the finance, health and gaming industries. It is further looking to have a major impact in ecommerce industry.”

https://www.google.com/amp/s/decentralpost.com/why-businesses-must-now-leverage-blockchain-for-ecommerce-infographic/amp/

New Report on ai eCommerce from BI Intelligence


There’s a new report out from Business Intelligence titled – AI in E-Commerce. Here are a couple of the attention grabbing notes:
  • Using AI to personalize the customer journey could be a huge value-add to retailers.
  • Retailers that have implemented personalization strategies see sales gains of 6-10%, a rate two to three times faster than other retailers, according to a report by Boston Consulting Group (BCG). 
  • It could also boost profitability rates 59% in the wholesale and retail industries by 2035, according to Accenture.