The e-commerce space gets more competitive as more and more customers take their shopping online. Eventually, even the online retailers themselves feel pressured to provide the best shopping experiences for their clients or risk running out of business. In these times, in order to win and retain clients, companies have to go for Personalized Merchandising, which is simply providing a product for a particular audience, at the right time, and the right price. Most of the online retailers also now depend on Artificial Intelligence or AI, to create the best shopping experiences for their clients.
The use of AI technology in online stores makes it easier for potential shoppers to get what they want without much hassle. Retailers need to learn a lot about their customers before they can suggest the best products. As humans can be rather slow at times, AI technology helps them to deduce all the collected information, before it displays the best products to recommend. It does so by silently monitoring customer behaviors. For example, if a client regularly reads reviews, the AI system can arrange items, beginning with the highest rated one.
Consequently, the AI platform can also keep tabs on past purchases, and suggest additional products to match the initial purchase or show a similar product in case what is desired is not available at the moment. A perfect example of AI at work would be getting a recommendation for a shoe after buying a particular apparel. Essentially, a lot of marketing time is saved, and the possibilities of making a sale are significantly increased.
AI’s integration in personalized merchandising has run deeper in the recent past. Even the retailers themselves can use it to recommend products from manufacturers. In addition to that, artificial intelligence also helps retailers stock their shops according to what most of their clients want. The retailers can also use them to establish customized marketing approaches through the use of things like pop-up messages and application notifications. Learn more about Sentient at Crunchbase.
The e-commerce field now more than ever needs updated and efficient artificial intelligence system. Many companies are therefore rushing to come up with systems that can understand client preferences even more efficiently.
It is already estimated that in the next ten years, 90% of online sales will be handled entirely by AI enabled computers. Algorithms have been the way forward for various retailers to make sales, but advances in AI technology have been positively impacting personalized merchandising.