AI in eCommerce: Use Cases & Benefits
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What are the Benefits of AI in eCommerce in 2024?
Artificial Intelligence – AI, has been the talk of the town in recent years, especially towards the end of 2023. As AI applications and tools became more accessible to the general public, sellers worldwide have been using them for various purposes.
One prominent facet of AI is its supportive properties in the eCommerce industry. Whatever your stance on the usage of this tool, the impact it has on online businesses has been efficient. In this article, we will highlight the benefits of AI in eCommerce in this day and age.
How is AI Being Used in eCommerce?
Humans are taught to be versatile, and so is this machine-learning technology. Below are some of the most common tasks that can be done with the help of AI.
Optimizing Designs and Visuals
Offering Personalized Customer Experience
Product recommendation is a simple, but dynamic tactic to drive sales. Showcasing relevant products while a customer is browsing your store is the key to increasing the average order value and complementing the overall customer experience. This process is often done manually but can be automated with the help of AI and machine learning in eCommerce.
Instead of picking each product that potentially fits a customer’s interests, AI will filter data from known customer behavior (searches, clicks, likes, etc.) to recommend the most appealing products for that individual in future purchases.
Artificial intelligence in eCommerce is especially suitable for businesses with an extensive collection of products that are harder to go through manually. AI selects the products based on a calculated pattern with no personal bias, which can alleviate slow-moving inventory.
Building a Professional Logo
Some of the most popular brands are recognized by their logos. This visual will go on the header of your website, the packages, digital business cards, social media, you name it. If your logo does not need any touch-ups, you can whip up a design in minutes. If you want to zhuzh it up with advanced fonts and color options, let a logo-building AI tool do it for you.
With AI, the need for professional design software is eliminated as the logo can be created right from your browser, with instant results.
Providing Self-Service Options
Many people now turn to Siri and Google Assistant for personal needs, such as setting an alarm, noting down a grocery list, texting their Mom, or asking them to ‘sing a song’ when bored.
In the eCommerce setting, service-providing chatbots operate as personal assistants to shoppers. The qualities that set them apart from humans are swift responses, detailed information, keyword-based replies, scheduled messages, and so on. A customer who comes across your advertisement outside your business hours can still receive instant responses from a chatbot without delay.
Creating a Dynamic Pricing Strategy
Pricing is a critical part of every business. For an eCommerce business, the competition is across the street but all over the vast expanse of the internet.
By scouring the web for insights, AI-powered pricing tools help relieve a huge workload off your shoulders when it comes to repricing your merchandise. The AI algorithms will analyze a large sum of data and decide the most optimal price for your products and services. The ultimate goal of this tool is profit maximization, via three main mediums:
Preventing Frauds
Managing Inventory
eCommerce owners are extremely diverse, with a large number of one-person businesses. That said, the need to manage inventory is always at the top of one’s mind.
With AI’s assistance, minimizing costs and increasing profits are made simple with historical trends and demand forecasts. By studying the nature of every item in your store, which concerns pricing, marketability, as well as customer buying trends in different seasons and holidays, this solution will help you avoid overstocking and understocking on inventory.
Creating SEO-friendly Marketing Content
Written content requires a lot of research and creativity. Blogging is a shining contender that powers content to showcase your brand’s personality. However, busy business owners find themselves putting out as much content as they wish.
This is where AI comes into the party. Whether you are only looking for a tool to give you a general idea of what topic and direction to take your writing journey into, or a substitute to generate quick, SEO-friendly content to promote your brand, there is an AI-powered app that suits your needs. From a team of blog writers (yes, there is a real human behind this article!), we think that content generated by AI should not all be shunned away. Though there is a stigma towards the usage of this tool, there is a lot to learn from it. As long as humans possess irreplaceable qualities that AI cannot fully replicate, we can treat this tool as a mere assistant, not a competitor.
AI Tools for eCommerce
1. GemPages - Create an Editable Layout from a Reference Image or Link
The rollout of GemPages 7.0 comes with a brand-new feature guaranteed to aid your online business. The Image-to-Layout feature is developed by GemAI – GemPages’ official AI engine. We built this tool with only one goal in mind: to make your eCommerce experience better.
So, what to look out for? With this nifty tool, you can create a layout from a reference image or URL. The layout is fully editable, with an abundance of creative freedom. Add or pass on elements, customize texts and colors, and explore an excess of other design options to get the result you desire.
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2. Pixelcut - Remove Background & Generate AI Product Photos
3. Zoorix - AI-based Product Recommendations & Bundling
Zoorix specializes in product recommendations and bundle offers. With features designed specifically for upselling and cross-selling, this Shopify native app is a brilliant contender for boosting your store’s rates and Average Order Value.
Utilizing artificial intelligence in eCommerce, Zoorix’s features are built around this technology to ensure optimal efficiency in cross-selling, intuitive volume discount, one-click bundle upselling, and many more. The most relevant products are suggested to customers along their shopping journey without being intrusive.
With a 5-star rating on Shopify, Zoorix is worth a try to take your business to a new level.
(Top tip: it can be integrated with GemPages!)
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4. Brandmark - Customize a Professional Business Logo
5. Manychat - Automated Interactions with Your Customers
For businesses that operate internationally, customer messages can come at unconventional times. Being tardy to their concerns could be the reason for losing a customer.
Manychat gets that regard, so they have developed a product that is designed to automate interactive conversations across several social media platforms to help you keep track of new messages without having to take on the task yourself.
Available for Shopify, Messenger, Instagram, WhatsApp, and SMS, Manychat’s chatbot is built for sales and marketing. Quickly craft engaging conversations with the app’s drag n’ drop interface. No coding skill is required.
Chat marketing plays a great role in generating leads and supporting existing customers, and with the proven benefits of AI in eCommerce, this message automation technology will give you your newfound business success in just a few simple steps.
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6. Sniffie - Helps Improve Your Pricing Strategy
Pricing your goods and services too low or too high can be detrimental to your business. Sniffie is one of the most typical examples of AI in eCommerce that helps you avoid this mistake.
The AI-drive dynamic pricing and price optimization tools analyze competitor pricing, market demands, and your own preference and business statistics to forecast pricing fluctuation. Thus, improve your pricing strategy.
Sniffie is also integrated with Shopify. It’s now more convenient than ever to stay on top of your pricing game without confusion and friction.
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7. Signifyd - Detect and Prevent Fraud
Trusted by giants, namely Samsung, Walmart, and Lacoste, Signifyd is a commerce protection that detects fraud activities behind every transaction.
This tool protects not only your business from fraud but your customers from false declines as well. Thus, it increases order approval rates and sales for eCommerce businesses as accurately as ever.
Among other big corporations in the prestigious list of the World’s Most Innovative Companies for 2023, Signifyd’s efforts in advancing AI are undeniable.
8. Fishbowl - Manage Inventory and Warehouse Operations
Prides itself as the industry’s most flexible enterprise resource planning (ERP) software solution, Fishbowl is an all-in-one platform for inventory management.
There are other big names for inventory tracking companies, so why Fishbowl?
Fishbowl’s real-time inventory control keeps you posted with detailed inventory counts, asset tracking, and multi-location visibility. This company is trusted by the U.S. Army, Lowes, and Mercedes-Benz. It’s a fully integrated management system that tracks your inventory at every stage, based on your criteria of choice (expiration date, serial number, etc). We honestly cannot fault this well-rounded tool.
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9. Moonbeam - AI Assistant for Longform Content
Long-form writing content should stimulate your creativity, not exhaust it. When writing from scratch seems daunting, let Moonbeam give you a helping hand.
It is the only AI writing assistant that gives you the exact support you need regarding essays, stories, blogs, journal articles, etc. This tool does not take away your creative liberty, but simply highlights your own ideas and transforms them into well-written content.
Moonbeam’s features encourage you to write, via Smart Chat and pre-defined prompts.
A sleuth of other tools will take your writing journey on a ride, without spending much time, which is perfect for busy eCommerce sellers.
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10. Phind - AI Search Engine Solution
Phind is a straightforward search engine that gives you exactly what you’re looking for without distracting information from outside sources.
This up-to-date AI assistant is incredibly agile, where information is pulled and filtered from different helpful sources.
The developers describe this tool as ‘seamless and informative as talking to a smart friend’.
The only setback is that Phind has a 6000-character limit, so keeping your questions and prompts short and sweet is recommended.
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The Future of AI in eCommerce
AI and machine learning are changing how businesses operate in many industries. They attract small business owners with their user-friendly setup, cost-effectiveness, and time-saving features. However, AI is not everything. More importantly, eCommerce store owners need to find the business strategy that best suits their needs.
Knowing how to balance AI and human work is a pivotal skill set. After all, your business can be run by AI, but your customers are real humans. Keep in mind, we are here to learn how to use AI in eCommerce, not the other way around. So, you don’t need to go all in with artificial intelligence; there’s nothing wrong with testing the waters first.
FAQs about AI in eCommerce
How is AI changing the eCommerce industry?
AI is transforming the eCommerce industry with technology that makes doing business easier and faster than ever, including fraud detection, inventory management, content creation, automated conversation, and many more.
What are the examples of using AI in eCommerce applications?
eCommerce merchants can now use AI to generate product images, set up pricing strategies, and reply to customers without constant alertness. Most of the applications are free to download or free to use.
What is the future of AI in eCommerce?
The future of AI in eCommerce is predicted to flourish even more, with assistance in every aspect of doing business. However, it cannot completely replace humans in running a successful eCommerce.
What are the benefits of Artificial Intelligence in eCommerce?
AI in eCommerce has many benefits for businesses of all sizes. It saves time and costs, performs many tasks with pristine accuracy, and can forecast to help merchants make plans for their businesses.
About GemPages Academy
GemPages Academy is a knowledge hub for storefront optimization and achieving overall eCommerce success. In collaboration with industry experts and leveraging cutting-edge Shopify applications, GemPages Academy offers a diverse array of content in various formats, including insightful blogs, intuitive tutorials, comprehensive webinars, and educational courses.
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