In the world of eCommerce platforms, efficiency and optimization drive business operations. In these unprecedented times of COVID, the need for a seamless and well-organized eCommerce platform is felt more than ever. With Magento, users are able to experience the best when it comes to providing their customers with a convenient shopping experience that addresses all their needs.
With the rising popularity of online shopping platforms and eCommerce, several brands have invested their time and effort in making these platforms more robust and technologically advanced. One of the biggest innovations in this regard is the incorporation of AI in eCommerce platforms. This combination paves the way for a much more enhanced customer experience and improved sales.
Perhaps the best eCommerce platform for AI incorporation is Magento. With its open-source nature, the platform can be easily customized according to the user’s requirements and incorporate the exact AI features that would help improve performance, without having to adjust to any pre-made plugins or third-party applications.
So what benefits does AI yield to eCommerce platforms such as Magento? Let’s find out!
Better Shopping Experience
With the help of AI tools, it is possible to make online shopping more convenient and easier than ever before. AI helps determine the preferences and purchase patterns of each customer and treats them as a unique entity. By keeping track of the types of products certain customers choose to look at or buy, the AI tool creates a collection of data specific to each customer. In this way, it provides a personalized shopping experience and ensures customer retention.
Improve Customer Support
One of the best ways to assist customers in their shopping experience and answer queries is the use of a chatbot or a virtual assistant. With the assistance of these AI tools, customers can be reached directly and their queries are addressed immediately. Chatbots are effective in resolving basic issues that customers often face, which can be easily automated as they do not require human input for their resolution. A virtual assistant also helps users narrow their search and help compare products, thereby assisting customers in a personalized manner, without the need to involve any employee. All of these factors contribute to improved customer service and better customer retention.
Deploy Convenient Search Tools
AI can be used to facilitate the product search process and make it easier for users to find the exact item they are looking for. With the help of artificially intelligent image recognition software, customers can simply upload images of their desired items to find them in the inventory. This not only saves them from the time-consuming task of going through the entire catalog of products but also helps boost customer satisfaction and suggests items similar to the one searched so that users can make informed purchasing decisions.
Apart from image search, AI enables the platform to conduct a context-based search instead of a simple keyword search. This greatly increases the chances of users finding the right item at the right time. The context of searches can be understood from the customer data that the platform obtains from each visit of the customer.
Increased Security Measures
Much of the eCommerce business relies heavily on the ability of the platforms to ensure quick and safe transactions. It is imperative, for both the users and the customers, to have a secure means of handling payments without running the risk of accidental loss or fraud. It is also important to ensure that clients pay for the products they purchase and no two clients get their billing details exchanged or mixed.
AI-based eCommerce helps in this regard by analyzing the transaction history for each customer and highlighting the risk level associated with each client. In this manner, it is possible to pinpoint sensitive transactions, which businesses can keep in eye on. The risk of losing payments due to sub-par payment gateways can also be reduced, as the AI can determine which platforms are safer to use than the others.
Automate Recurring Activities
Arguably, the biggest advantage of incorporating AI with Magento and other eCommerce platforms is the automation of mundane, everyday tasks that employees waste time and labor on. Certain tasks, such as product classifications, can be carried out much easily and much faster with the help of AI than having to do them manually. This not only improves efficiency but also frees up employees to engage in tasks that require a more complex decision-making process.
Leverage Predictive Insights
As far as the predictive analysis of AI tools is concerned, it does not only help predict the purchase patterns of a customer, rather, it also helps the employees of the business manage and keep track of their inventory. With platforms that incorporate AI with eCommerce, it is possible for the AI tool to keep an eye on the latest market trends so that the business could stock their inventory in line with the required trend. The tool can also help businesses keep their inventory updated by letting the employees know which products are likely to run out early, based on their demand, and when to restock them.
Manage Financial Reports
With the incorporation of AI in Magento and similar platforms, financial decisions can be made much easier. AI can be leveraged to analyze a business’s invoices and sales data to help the business make important financial decisions. With the ability to analyze financial indicators, the AI platforms can help businesses grow without the need for them to hire financial analysts. Moreover, any room for human error is also made negligible.
Our Two Bits!
Incorporating AI in Magento yields its users’ benefits that put their eCommerce platform well above the others. With a future deeply entrenched in the ability to navigate AI efficiently, businesses can benefit a lot by keeping up with these technological advancements and making the most of them. Rolustech can help its clients incorporate AI tools into their Magento platform using its Magento Customization services, in order to streamline their sales process boost their efficiency.
Interested? Rolustech is a full-service Magento e-commerce platform development firm and our experts can make sure your e-commerce platform serves your business in every way possible. Get in touch today for a FREE Business Analysis session!