New AI Instruments Assist Degree the Taking part in Discipline for Retailers | E-Commerce


By Jack M. Germain

June 10, 2021 5:00 AM PT

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Artificial intelligence can definitely be the holy grail solution for more effective shopping optimization for retailers. AI comes in many forms and different options. It is clear that one size fits all not for all marketing needs.

One emerging solution is taking a more reluctant approach to adopting AI for retailers. Last month, Fast Simon introduced a new JavaScript (JS) software development kit or SDK for its AI solution for shopping optimization.

Another AI-powered platform for online retailers focuses on using visual data to increase conversions. Vizit’s AI platform helps ecommerce marketers see things through their consumers’ eyes. This enables marketers to optimize their visual brands and know which product images are successful in motivating their target audience to buy online.

Fast Simon’s SDK takes less than 10 lines of code. With it, merchants can use the SDK to integrate the company’s platform with any custom ecommerce front end to increase Average Order Value (AOV) and conversion.

The new Vue.JS and the React-ready JS SDK enable a smooth integration of Fast Simon in headless commerce. Combined with the company’s self-managed dashboard, merchants have complete control over critical retail functions such as merchandising, search, A / B testing, collection filters, personalization and visual discovery through e-commerce-enhanced machine learning, as well as upselling and cross-selling product recommendations.

“Merchants compete with creative and engaging front-end shopping experiences that can quickly adapt to new retail and consumer behavior. There is no time for tedious programming that slows delivery,” said Zohar Gilad, CEO, Fast Simon.

The new SDK offers the best of both worlds. Retailers and their creative agencies have full control over the customer experience. They also get a simplified back-end integration of the Fast Simon AI Shopping optimization platform, he explained.

Almost limitless application possibilities

The list is almost endless when you count the potential uses of AI in retail and e-commerce, noted Gilad. It can be anywhere from classification issues like recommendations to finding and personalizing merchandising. It also helps retailers with things like optimization, modeling, and visual modeling.

“This is how the virtual fitting works. People can try things on virtually at home, experience augmented reality, insights and forecasting, ”he told the E-Commerce Times. “A key feature that AI brings to retail is visual discovery that is able to interact with retail through images.”

What really matters about AI is its ability to enable retailers, small businesses, and even businesses to compete with the Amazons of the world, Gilad noted. E-tail giants like Amazon and Walmart have near-endless technology resources to help them become even more competitive.

AI democratizes this by providing the other traders with the latest technology to help them compete. Most retailers, even the very big brands, don’t have the engineering armies like Amazon.

“If you look at the competition, you have the very big brands that have technology and access to technology and everyone else who doesn’t,” Gilad said, noting that his company’s AI solution was about that technology Retailing to the masses brings Software as a Service (SaaS) at an affordable price.

New application possibilities for AI in e-commerce

AI enables image optimization and visual branding that drive e-commerce in retail, said Jehan Hamedi, CEO and founder of Vizit. His company uses a proprietary AI platform to turn retail image-based content and designs into a tool that attracts and converts customers.

Perhaps the most important new application for artificial intelligence in e-commerce is AI-driven analysis and understanding of more complex data and consumer behavior. These tools are popping up in retail e-commerce, he said.

“First generation AI technology applications for the digital shelf synthesized vast amounts of information on product prices, availability, and findability. The latest technology is being used to solve more complicated problems and develop more sophisticated solutions for brands that are responding to the steep rise of the online world -Market adjust shopping, “Hamedi told the E-Commerce Times.

Vizit is the first retail e-commerce visual AI system that can unleash the power of visual data to motivate transactions, he explained. It generates predictive consumer visual insights of what consumers want and need to see in order to convert. It also examines the massive streams of content shoppers on the internet.

Personalized sales coaching

According to Hamedi, AI can be a powerful weapon when fighting for profits in stores or on the digital shelf. The insights provided by AI will tell you exactly what to do to sell more products.

“AI takes the traditional research processes lasting weeks or months and condenses them into algorithms that deliver valuable consumer insights in just a few minutes. This is the efficiency and scale that both brands and online retailers need to convert consumers to trade at the speed of digitization, ”he said.

With so many products and digital imagery available to shoppers today, collecting meaningful data would take too much money and more time than anyone doing traditional surveys and focus groups to get sufficient insight, Hamedi noted. Without the help of technologies like AI, this is an impossible task.

“AI delivers the insights you need at one-hundredth the cost and 1,000 times faster and with the same accuracy,” he said.

Better than AI-supported speech devices

Hamedi sees the biggest hurdle with AI in the company in a lack of awareness and understanding of how the data can be used for decision-making. It’s just new and different.

For example, Amazon’s Alexa is a household name in voice AI. Many retailers have adopted their technology and APIs to create better, more personalized shopping experiences that are very effective. Hamedi believes that visual AI platforms like Vizit’s have the potential to have an enormously greater impact on e-commerce compared to voice AI.

“Humans are visual creatures. People buy based on what we see and they eat with their eyes, ”he said.

The performance of your company’s visual brand is more important than anything else to ecommerce marketers in 2021 and beyond. Optimizing visual content is also the fastest route to conversion and revenue growth based on Vizit’s research, noted Hamedi.

Content is king

The greatest opportunity for AI in retail is in content. Currently, the content selection and visual assets you see on the product detail pages of the largest and most sophisticated companies in the world are still largely based on gut instinct and subjective decisions, Hamedi observed.

“AI brings new science-based data and insights to creatives and brand leaders who want to present their products in the most compelling and convertible light possible. When your product content is competing for a fraction of a second of a consumer’s time, you need the smartest, fastest technology to ensure that Content work as hard as possible for your brand, “he said.

AI is the next big thing in delivering a better customer experience (CX) to shoppers over mobile connections. Creating the most effective mobile shopping experience begins and ultimately ends with the quality of the product images presented to consumers, noted Hamedi.

In this environment, a picture is the first moment of truth and the gateway to a purchase decision. To improve the mobile shopping experience, both brands and retailers need to invest in their CX in e-commerce and think differently.

Retailers shouldn’t just display a product page with basic product information and a picture. It has to be an immersive experience with a visual brand that needs to be tweaked for the highest possible performance, recommended Hamedi.

“Brands also need to invest in new and more data-centric technologies. The most powerful of these technologies are artificial intelligence software systems as they are the only systems that can keep up with the speed and visually centered appetite of digital centered technology, ”he said.

Jack M. Germain has been a reporter for the ECT News Network since 2003. His focus is on corporate IT, Linux and open source technologies. He is an esteemed reviewer of Linux distributions and other open source software. Jack also deals extensively with business technology and data protection issues, as well as developments in e-commerce and consumer electronics. Email to Jack.

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