IA e-commerce: TO-DO-LIST

Adjusting to current consumer needs: AI Action Fields

Every day, the number of online shoppers looking for a new product more personalized e-commerce service increases, with members of the younger generations – Gen Z (18 to 26 years old) and Millennials (27 to 42 years old) – being the most demanding, with 47% and 46% respectively demanding product recommendations tailored to their tastes and needs. Forty-one percent of Gen Xers (43 to 58 years old) also agree with these expectations, while Baby Boomers (59 to 77 years old) show considerable interest, with 36% of affirmative responses.

In response to this growing demand, various artificial intelligence tools are being integrated into marketplaces to deliver highly personalized experiences. Below, we briefly discuss how AI is revolutionizing e-commerce across three critical consumer needs :

a) Rapid response to shipments

-> Consumer need: a classic in all marketplaces: Short shipping times, ideally no more than 48 hours:

AI Fields of Action:

-Optimization and delivery management

-Demand forecasting

-Inventory Optimization Software

– Practical Applications

b) Updated delivery information

-> Consumer need: real-time updates during the last three hours of the order journey, known as“last mile“.

AI Fields of Action:

-PredictiveAnalytics

-Optimizing Routes Navigating through Traffic and Weather hurdles.

c) Hyper-customization of products

-> Consumer need: Current main demand -> exhaustive customization of products offered on e-commerce platforms.

AI Fields of Action:

-Customer segmentation: Identification of customer segments based on buying patterns and preferences, enabling tailored marketing campaigns.

-Chatbotsand virtual assistants: Using natural language processing (NLP) to interact with customers in real time, providing instant answers to questions, assistance with site navigation and personalized recommendations.

-Personalization of the user experience on the website: AI algorithms can adjust the content users see on an e-commerce website, including product layouts, promotions and marketing messages, based on their interests and past behaviors.

Artificial intelligence in e-commerce (AI e-commerce) is adapting to the changing needs of consumers. To achieve this, various AI tools are being implemented in marketplaces, and these range from inventory management to real-time alerts of expected delivery times; in short, AI is also transforming the way we buy and sell online. 🌐🛒🤖

Raul Domingo Research Consultant MIO One

Date

May 14, 2024