Artificial Intelligence: The Game Changer in Retail Industry

Artificial Intelligence

See how Artificial Intelligence is going to be a game changer for the business realm. The author contemplates on its growing influence in terms of brand awareness, customer acquisition, and customer service.

In Q2 2016, mobile devices alone were accountable for 50% of the traffic that online retail stores received, claims IBM in one of its reports. Emphasizing the importance of mobile, Gartner adds that 50% of all the revenue generated via eCommerce in the US are on account of mobile devices alone. As mobile usage continues rising new height in eCommerce, more and more businesses are resorting to mobile app development.

However, only 2% of the total mobile app visitors conclude a purchase. So 98% of the opportunity remains untapped in the digital space as users quit the conversion funnel in the midway. Here is how artificial intelligence can make you win the battle and serve customers with a difference.

Artificial Intelligence

Human-Centric Engagement
Customers love talking and so should you. They could have queries regarding product/service and apprehensions. Responding them spontaneously, you can with their trust and make them take the right decision. Wondering how to cope with the growing number of shoppers? It’s simple. Bringing chatbots into the picture, make your app responsive. A chatbot can handle hundreds and thousands of queries at the same time and, most importantly cognitively by reading the mind of the customers leveraging the machine-learning capability. This can be implemented across all endeavors brand awareness, customer acquisition, and customer service. Augment the user experience by incorporating voice assistants like Amazon, Alexa, Google Home or something similar.

Sensible Insights
eCommerce or mobile commerce is doing business with real people but in the virtual world. So you need hindsight and foresight both to make sure that you have a sound understanding of the opportunities and challenges that come across different business processes. Keep a track of all the user activities at different stages of the conversion funnel with the help of a mobile analytics tool like Google Mobile Analytics, Mixpanel, to name a few. The artificial intelligence helps with improving the customer acquisition and customer satisfaction aspects. In fact, staying true to your commitments, you make customers do advocacy for your product or service. So it also helps with cutting your marketing budget in terms of acquiring new customers.

Maintaining an Omni-Channel Experience
AI-enabled chatbots or mobile analytics tools work with all digital platforms from eCommerce to mobile commerce. However, to maintain omni-channel consistency, the technology development, integration and deployment should be done intelligently. Tracking the customer journey across all digital platforms, you can elevate the customer experience, identify the bottlenecks and stay prepared with respect to the future demands and expectations. This will provide you an edge in the competitive market and let you curb the customer churning as well.

Saroj is a Techical blogger and content marketer. He is working with Root Info Solutions, a Mobile app development company.

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