How artificial intelligence is shaping today's Ecommerce.
A new business landscape
Artificial intelligence is changing the Ecommerce game and online merchandising. This book, written in plain English, reviews the main challenges that people who manage Ecommerce websites will need to face in the coming years.
How artificial intelligence is shaping
The impressive growth we’ve seen with Ecommerce over the past decade will inevitably continue. In North America alone in 2016, it’s estimated to reach $660,4 Billion (Statista, 2017). The impact of Ecommerce will keep reshaping the economic landscape as retail sales move from brick & mortar to online stores. This shift in consumer habits is not only impacting our economy, but our society as well.
As the predominance of Ecommerce increases, so does the competition between all online players. Thanks to the internet, international merchants are now competing with local ones, radically influencing how consumers are targeted and how their money is spent.
When it comes to sales, conversion remains king and critical for merchants. Ecommerce sites continue to use innovative and more effective marketing efforts to better connect with consumers, and ultimately establish a long term and trusted relationship with them. This dynamic is shaping consumption as we know it today.
There are two resulting consequences: first, there is now more money spent on marketing than ever before. Second, consumers are increasingly weary of marketing tactics, and tend to filter out the noise and hype associated to campaigns. This in turn leaves marketers with a stronger than ever need to better know and understand their customers, and to have a direct line of communication with them through social media or email. However, there is now a new dynamic to this equation.
Marketers are now armed with a new tool: Artificial Intelligence (AI). AI is shaping the customer journey in ways never seen before: content has become hyper-relevant and the desire to purchase is stronger than ever. One by one, webpages are learning from what shoppers are doing, and are now able to accurately predict what a customer wants and when, even before they do. This paradigm shift in online merchandising is simply making Ecommerce more appealing.
AI is effectively revolutionizing Ecommerce. When done well, it learns from every click of the customers’ journey. It presents information to the user that’s both personalized and optimized for sales conversion using the collective insight from all users. Suddenly, the online shopping experience has become a familiar and enticing one.
Artificial Intelligence has the power to significantly boost sales and customer loyalty. And that’s what Robought is all about.
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