AI smart technology can help retailers improve customer experience and attract new customers. There are three main ways:
1. Chatbots and assisted self-service
Retailers can use AI technology to reduce the volume of calls and directly contact customers, which is especially suitable for situations where the seller’s brand is not dominant.
AI-the non-manual service method-is the future of the customer service industry. Gartner Consulting of the United States predicts that in 2020, 85% of customer touch points will achieve non-manual services. Even cross-channel chatbots will be able to recognize customers’ voices and facial images by 2018.
WeChat has adopted this tool to reach customers and the market. The WeChat intelligent voice robot is connected to many other tools, such as chat windows and mobile wallets.
2. Improve customer experience
E-commerce website pages-such as category and product display pages, which concentrate on data, technology, user experience and high-quality content, are critical to increasing conversion rates-are a broad area that uses AI intelligence.
For example, outdoor clothing brands will soon release a mobile app that allows users to talk to Watson (artificial intelligence program) of International Business Machines Corporation in the United States to find the products they need as soon as possible. Customers can directly enter information in the App, such as how changes in chat mood will affect their favorite sports, Watson will give many appropriate suggestions.
It is expected that the AI assistant will be able to recognize the face and voice of customers in the next two years. Retailers can make the voice of AI assistants more human-like. In order to provide a better customer experience, AI assistants need to use a lot of human service experience to avoid frequent asking questions.
3. Forecast price
For consumers, the interactive process of online shopping is a beautiful dream. They only need to tell the perfect item in their mind, and then AI will provide matching products to choose from. In this way, designers, buyers and merchants can work together to predict the needs of consumers, even if they do not know whether such a product exists.
Travel websites can also use AI technology. Google has recently added a new feature that tells consumers when it’s worth buying a ticket. This AI function is based on the data of previous flights to a certain destination, and it can also predict prices.
In order to use AI technology to predict prices, retailers need to base on past product pricing and competitors' pricing; inventory and profit targets; and customer satisfaction levels. Platform sellers are priced according to the AI algorithm and will enjoy higher exposure, greater sales, and customer feedback.