AI has been a game changer for every industry, and eCommerce is thus no exception. You must be wondering about the wonders AI can do in the eCommerce landscape, right? Customer satisfaction is essential to an eCommerce company’s ability to grow at a 2X rate. Nevertheless, artificial intelligence (AI) is one development that the eCommerce sector may use to provide A1 client experiences through creative solutions.
AI has several advantages for the eCommerce industry. It provides much more, including voice searches, chatbots, virtual assistants, tailored shopping experiences, and product recommendations. This write-up will describe how mobile apps with AI capabilities can enhance your e-commerce business. Let’s go right ahead and get started.
What are AI-Powered Mobile Apps?
Mobile apps that use artificial intelligence (AI) technology to improve their performance and offer cutting-edge features are known as AI-powered apps. These applications utilize machine learning and AI algorithms to evaluate data, forecast outcomes, automate processes, and enhance user experience.
Mobile apps with AI capabilities can do various functions, including virtual assistants, speech recognition, natural language processing (NLP), image and video analysis, and much more. Users can engage in human-like interactions and receive a customized user experience with mobile apps driven with the help of AI. A few famous AI-powered eCommerce apps are:
- Amazon
- Ikea
- Sephora
- Alibaba
- Rewind
Having gained an understanding of AI-powered mobile applications, you might find incorporating AI into your eCommerce mobile apps a little intimidating. If that’s the case, you can seek guidance from a leading provider of artificial intelligence development services with a track record of creating mobile apps with AI for eCommerce companies. That said, let us now understand how AI-driven mobile apps may improve your e-commerce business.
How AI-Powered Mobile Apps Are Revolutionizing Ecommerce Business?
According to stats by Grand View Research, the global AI in retail market size, valued at USD 5.79 billion in 2021, is expected to grow at a compound annual rate (CAGR) exceeding 23.9% from 2022 to 2030. The digits are exciting, aren’t they?
According to the statistics, artificial intelligence (AI) in eCommerce will give companies tailored service, real-time customer support, and insight into demand trends. Now, let’s examine the fundamentals of artificial intelligence in eCommerce and how this innovation helps grow the industry.
Benefit 1 – It Enhances Credibility
Customer service is one aspect of eCommerce business that is very important in this field. AI has an advantage since it delivers pertinent information and analyzes individual customer preferences in the best ways to improve the customer experience. It also guarantees transparency and equity by minimizing the possibility of deception and strategically implementing dynamic pricing.
Mobile apps with AI capabilities analyze data, forecast the future, and automate processes to increase productivity and accuracy. Put simply, companies may boost their reputation by utilizing AI technology.
Benefit 2 – Tailored Approach
AI-powered mobile apps use machine learning and AI algorithms to give eCommerce enterprises a tailored approach. To create individualized recommendations and experiences, these apps evaluate user data, including browsing history, purchasing behavior, and preferences, in the most effective methods possible.
Artificial intelligence-powered apps can provide relevant product recommendations, customized discounts, and focused promotions by comprehending each user’s individual needs and interests. This strategy improves customer happiness, engagement, and user experience.
The customized strategy raises customer satisfaction, boosts engagement, and improves the user experience. Additionally, it increases conversion rates and helps eCommerce companies cultivate better ties with their clients.
Benefit 3 – Chatbot Assistant
The demand for instant response with online users is actual. Users expect swift responses to their inquiries. According to a study by Grand View Research, the market worth of chatbots is expected to reach $27,297.2 Million by 2030, increasing at a CAGR of 23.3% from 2023 – 2030.
Chatbots use artificial intelligence to communicate with consumers, respond to their questions, suggest products, and even handle orders. These chatbot assistants can manage multiple conversions simultaneously, offering clients prompt, tailored support. This feature contributes to improving the users’ overall experience.
Additionally, it benefits eCommerce companies by lowering the cost of customer service, raising customer happiness, and increasing sales.
Benefit 4 – Forecasting and Sales Analysis
eCommerce companies can make precise business plans with exact sales estimates. Simply put, sales forecasting is essential to a company’s ability to satisfy client needs. Furthermore, the strategy is the most effective at understanding how the market responds to a particular product.
The customer journey typically consists of four steps retailers must know: awareness, consideration, decision, and loyalty. AI does the best data analyses across all spectrums, i.e., strategically and holistically, among all these stages. Additionally, it assists in assessing the clients’ demographic information and purchasing habits, empowering businesses to make well-informed choices.
Benefit 5 – Savvy Usage of Augmented Reality
According to research conducted by TechJury, it is estimated that there will be 1.73 billion augmented reality users on mobile by 2024. AR is gaining popularity and is expected to grow from $62.7 billion in 2023 to $ 1109.71 billion by 2030. The digits must leave you intrigued, don’t they?
With that in mind, one thing is sure: AR will revolutionize the game! Additionally, AI enables eCommerce companies to maximize augmented reality functionalities. After incorporating augmented reality (AR) capabilities into their eCommerce applications, several well-known firms, including Alibaba, Sephora, IKEA, and several eCommerce brands, experienced a radical change and significant increases in sales.
Most of you must be wondering how on earth that is occurring. In short, it’s the special ability of augmented reality (AR) to let users see the products in a live setting. Customers can purchase goods more effectively because of this. Additionally, it helps retail businesses achieve higher sales conversion rates. So, integrating AR and AI in eCommerce applications can provide A1 features such as virtual try-ons, user manuals, and product placement previews, thus enhancing customer engagement.
Bottom Line
The use of artificial intelligence by retail business owners is revolutionary. It functions as effectively as possible to enable cutting-edge technologies in mobile applications. By working with a seasoned mobile app development company, you may use your expertise, knowledge, and skills to create mobile apps that use AI technology.
AI allows eCommerce mobile applications to optimize the current ecosystem and deliver a better online shopping experience in the growth-oriented 21st century, where competition is soaring, and customer behavior is more dynamic. All that results is an improvement in the growth of the firm.
