Chatbots are being a great tool when talking about e-commerce, and to follow up on this good practice and complement it, AI is working on shopping applications, natural language processing, image recognition, predictive inventory and much more. These are some examples of large sectors in which these companies are developing.
- Orientation by products in real time: use machine learning to present online shoppers with personalized product recommendations. These companies often update e-commerce websites in real time to present product selections that are best suited to the individual shopper.
- Prices and incentives in real time– Machine learning used to adjust prices, sales options, offers, and coupons in real time to try to steer hesitant shoppers toward conversion.
- Search through natural language: algorithms that use natural language processing to improve search on e-commerce websites.
- visual search: These image recognition platforms that help e-commerce websites allow visitors to search by image instead of text, and match relevant products to specific images.
- Visual supervision in store: are AI-powered software that analyze visual content and store stocks to help brands track how their products are stocked and promoted in real time.
- Predictive Marketing: They do “Big Data” analysis to optimize shopping, specific place and product assortment in stores and e-commerce. The goal is to better predict demand in different geographies to avoid waste and inventory going out of stock.
- Sizing and design: AI-powered software to help retailers integrate product sizing enhancements and apparel selection tools into their websites.
- Multi-channel marketing: Startups using AI to create marketing campaigns targeting desktop, mobile, email, and other digital channels.
- Integrated online and in-store analysis: These startups combine physical and digital store analytics to help retailers better understand their customers.
- Location-based marketing and analytics– These Startups that combine physical and digital store analytics, while integrating beacon technology to track shopper locations.
As we move toward the store of tomorrow it's easy to see how the entire shopping process, both online and offline, will change dramatically thanks to the power of AI algorithms.
Examples of companies by specialization:
- Orientation by products in real time: reflection
- Prices and incentives in real time: granify
- Search through natural language: twiggle
- visual search: stack
- Visual supervision in store: eversight
- Predictive Marketing: blue yonder
- Sizing and design: FindMine
- Multi-channel marketing: One TA
- Integrated online and in-store analysis: plexus
- Location-based marketing and analytics: DataBerries
Source: CBInsights
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