AI Driven Online Commerce to Gain Momentum in 2018 & Ahead
This year, consumers will have the opportunity to interact with Artificial Intelligence (AI) more than they did in 2016 and 2017, as it will be more interactive and engaging.
This is considering the fact that AI will harness the opportunities from Big Data, which delivers huge amounts of data from prospects’ previous online interactions to carry out predictive analysis of their tastes, preferences, shopping habits, and their next purchases, based on similar profiles from behavior of other consumers.
Part of this exciting change is the interactions of consumers with chatbots, which have already started serving as automated agents for businesses, answering customer queries via chat lines, and picking up what consumers look for so as to deliver the best possible customer experience.
According to business experts, other top predictions for M-commerce that will transform 2018 include the rise in mobile shoppers, and various studies have been conducted to ascertain this.
One of these studies showed that by 2020, there will be 6 billion mobile devices in use across the globe, which means retailers will see a big leap in mobile browsing and larger value purchases made by consumers via mobile.
Additionally, consumer expectation will push and drive speedy delivery which they’ll expect with the conveniences of online shopping and purchasing from wherever they’re based, thus retailers have to implement faster turnarounds, easier return policies, while maintaining their profit margins.
Customers will also expect personalized shopping experiences, such that they don’t see what every other consumer sees online.
All this will be made possible by AI and machine learning, thus retailers can tailor shopping experiences based on their customers, while creating targeted marketing campaigns.
AI is increasingly becoming paramount in 2018, more than ever before, so retailers will begin to take advantage of AI and implementing AI technology to their existing channels, whilst sharing data across the business segments to provide personalized experiences for consumers across all channels.
Currently, the online marketplace has made e-commerce more saturated and competitive, so any business that wants to succeed has to be fast and smart. It can’t afford to spend too much time on discovering marketing ways to generate traffic and leads.
A good example is building websites, which before had to be done by a human web and/or graphic designer, costing thousands of dollars, but today, all you need is an AI website builder to produce a site within minutes.
Here is an infographic that beautifully captures the top 5 AI-drive trends in M-commerce this year and ahead.