How Artificial Intelligence helps to Revolutionized e-Commerce Worldwide?

Without artificial intelligence in technology, e-Commerce would not have been successful. E-Commerce is the main factors in the worldwide economy. As per reports, the top 3 online retail brands have generated 100 billion US dollar revenue whereas Statista predicts e-Commerce sites to the hit 4.88 billion US dollar mark by 2021 with constant sync of internet, technology and e-Commerce sites.

The online shopping peaks up during the festive season which varies across countries like in India, Diwali and Dussehra sees the highest sales, Europe would face it during Christmas while in US Thanksgiving and Cyber Weeks have been known to generate revenue worth of 110 billion dollars in 2016 which was 15 % more than 2015.

Since the seller and buyer do not interact face to face, it is the online retailer who needs to influence the buyer via different modes like advertising, customer experience of buyers who have already used the same product and success stories to compel the window shopper to finally click the “buy” option. Price drop alerts are continuously checked for and finally when the big sale starts, the window shoppers trigger out!

In between the gap of adding to cart and waiting for price drop, the retailers cannot directly influence the customer but it is the buyer who studies every bit of the product – type, size, customer ratings and reviews, price in other sites, delivery timing, etc. This induces more customer engagement thus making retailers compete tough against each other.

With the help of artificial intelligence solutions the online retailers can improve customer experience in the below ways:

• Customer Personalization – Amazon is known to provide the most accurate recommendations based on past purchases. The “recommended” and “similar” products are suggested automatically based on the customer’s buying pattern as well as other customer’s searches for the same product. This data is then utilized for further predictive actions. The online retailers are utilizing the power of big data to compile all these customer records which provide an insight to not only the buyer’s preferences but also his usage, environmental conditions and brand preferences. Hence with big data as a part of artificial intelligence, e-Commerce sites are driving and predicting customer decisions from wish list to cart and finally doorstep!

• Inventory and Warehouse – It is the IoT devices connected via artificial intelligence that manage product stock from inventory to delivery. The RFID chips and sensors are now cheaper and incorporated by even the newest and smallest of online retailers for promoting their collection. This reduces human intervention to track the stock and streamlines the stock levels maintenance by triggering warehouse workers to locate the products as per orders received. This relieves the retailers from sudden market shocks of low or nil supply. The human hours of inventory management are eliminated by RFID which is another aspect of artificial intelligence. This also helps in tracking order and delivery of the products.

• Maintenance – There are certain high end goods which need a proper maintenance and protection from theft and damages. With latest devices and IOT, customer issues of replacement or lost or damaged products can be resolved easily.

Today, the shopping based online business is flourishing and vendors are soaking Artificial Intelligence all through their business activities. AI is changing the web-based business aggregator stages into their newer, quicker variants, prompting the development of these stages in exceptional manners.

More of artificial intelligence gives way to more customer engagement in the product which ultimately drives better quality and brand value. More and more Magento Development Companies establishing themselves in this e-Commerce field to empowers many online stores globally. It takes manual undertakings off your plate and helps you to change over more adequately. Ensure your online e-Commerce store is using the best programming out there to remain in front of your opponents.