The e-commerce industry will be purely driven by unparalleled customer experiences. It will also see a considerable rise in personalization options and shopping recommendations. Hence, to ensure smooth sailing in the new normal, it is crucial that businesses deliver unmatched customer service backed with technological advances.
The pandemic has changed the way people view e-commerce – it has become their first choice for buying goods or services. With customers continuing to patronize more online transactions, the platforms that offer the best customer experience will be the ones to retain them and earn profit in the long haul. And, artificial intelligence will play a crucial role if businesses want to provide a seamless shopping experience on online as well.
Today, retail and e-commerce brands utilize AI to bring in improved and superior customer engagement. This AI-driven approach lends an intuitive shopping experience to consumers.
Sendur Sellakumar, Chief Product Officer and SVP – Cloud, Splunk, says, “The companies that are most attentive to customer experience are already cloud-native, and they’re already applying machine learning to their customer interactions. But with the acceleration of digital transformation, and cloud adoption, in particular, even more companies will modernize their customer experience.
AI can improve customer experience by presenting more personalized offerings and providing operational analytics.”
The use of AI in the e-commerce industry is helping predict the shopping behavior of customers. Also, machine learning recommendations can help in cross-selling by even suggesting a product to the customer.
Digital native e-commerce businesses are taking the lead, leveraging AI to predict trends, set prices, optimize warehousing and logistics, and personalize promotions. A few AI-enabled digital assistants are even developing capabilities like creating shopping lists and online orders for the customers.
Automated Customer Service and Predictive Personalization
The biggest impact of AI is making customer service swift, automated, and hassle-free. Today, it is possible for companies to pre-empt customer expectations by understanding past behaviors and offer quick resolutions to improve the overall service experience.
AI is also helping businesses emulate experiences that naturally blend with the everyday lives of the customers. Brands can quickly analyze consumer patterns and the shopper inventories to forecast and automatically deliver goods.
For instance, instant shopping can convert any page into a checkout zone and expedite the purchase process for an inspired customer. This is made possible with AI enabling brands to make shopping a hassle-free one-click experience with an instant checkout button. Furthermore, AI can also adapt this checkout preference and turn new customers into loyal ones.
Leveraging Analytics for High-Impact Customer Insights
To deliver a top-notch customer experience, businesses need to treat their customers with consideration through their shopping journey. This can be made possible through AI-enabled analytics. It has the power to sift through large datasets comprising of minute and intricate details to discover hidden business opportunities.
AI-led analytics analyze data and predict future behaviors with high-accuracy and find the inhibitors and drivers of the customer experience. It also helps forecast and automate retailers’ decision making in real-time. By learning and identifying the patterns from large datasets across different sources, AI can help businesses adjust in an ever-evolving market environment. By improving forecasting accuracy, machine learning can help anticipate customer expectations while automating and optimizing supplier negotiations.