There’s a lot to talk about when it comes to current trends and events in the e-commerce industry. Technology moves at a rapid pace, and these quick innovations provide us with opportunities that we need to take advantage of.
One of these innovations is the rise of AI (Artificial Intelligence) in just about every area of life — and the e-commerce industry is no exception. Here are some of the AI trends that we expect will impact the e-commerce industry soon:
Advanced Search Options
One of the most frustrating things for any customers is a poorly designed search feature. If you want consumers to navigate your site efficiently, instead of going to a competitor, then your search tools must become a top priority.
AI has taken over the search engine game, providing more flexibility with semantic recognition tools. This allows customers to find what they were looking for — even if their actual search query was full of typos and other misinformation. This semantic recognition can help figure out what a customer is searching for, even when they don’t make it clear.
Another advanced search feature coming to the forefront has to do with voice-based searches. Voice recognition technology has come a long way, and more people are turning towards using their voices due to the convenience it offers. Making sure you have an AI-driven voice recognition tool will be key to handling this feature in the future.
Upselling and Cross-Selling Features
Many in the industry know that upselling and cross-selling are huge money-makers. When a customer is ready to spend even more, why not take advantage of this? The problem is, it typically involves a lot more work on your part. While there are many tools and platforms available that allow you to offer upsells and cross-sales to your customers, most of them currently available require you to do the heavy-lifting beforehand. You know: decide what products to offer as an upsell, set an offer, etc.
What if an AI could do that work for you? Once you establish parameters that your AI can follow, you can let it take over this feature, providing existing customers with the chance to add to their order based on your pre-established guidelines. The AI will look at the customers’ current purchase and make suggestions for add-ons based on what seems to make the most sense. The AI can even decide how much of a promotional discount to add for the upsell if you choose to let it.
Logistics is a huge part of the e-commerce industry. Once your business moves beyond selling just a handful of items, you then have to start worrying about the “other” side of things — storing, shipping, etc. etc. This is where logistics come into play.
It should be no surprise that AI is innovating the logistics realm as well. Companies that are using AI to help are noticing increased efficiency and turn-around when it comes to orders being placed and heading out the door. This boost in efficiency means quicker, cheaper shipping, a reduction in your costs and increased customer satisfaction. Some companies are moving even further in this direction, using AI-powered robots in their warehouses to more quickly aid in getting various products on their way to their final destination. All in all, a pretty smart way to invest your AI!
More Accurate Predictions
The final trend we’re discussing here is one that can have serious potential for the future: the ability to boldly and accurately predict future sales. Think about it: if you could have a magic ball, of sorts, that let you know the future of your industry — what customers want to order, how many of them, what’s next, etc. — wouldn’t you take it? Well, AI promises to be able to do exactly that.
By looking at the current state of affairs and noticing micro-trends in current customer behavior, AI is more able to accurately predict what comes next. From the small things like projecting how many units of a certain item you might sell in the next month, to the big things like what’s going to be the Next Big Thing, AI can give you insight into the future, allowing you to plan more accurately and stay on top of your game.
There are always new ways to boost sales and crush your conversions. Here are six ways to skyrocket the sales of your e-commerce store.
Author Name: Mike Patel
Mike Patel is a digital marketing enthusiast, innovator and President of a leading Digital and E-commerce Development Agency in Dallas, Texas. Mike holds a BS, Computer Science degree from Wayne State University and is a key player in the E-commerce development and digital marketing industry since 2004. The scope of technology in his extensive experience of more than 15 years ranges from Magento, Shopify, BigCommerce SEO (Search Engine Optimization), PPC (Pay Per Click) management, E-commerce SEO, Google Shopping Ads and more.