Advanced technologies reshaping online shopping experience – Times of India
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Founder and CEO, Choicemonk Techsolutions Pvt. Ltd
Technological advancements have made a significant impact on business operations across industries in the digital era, with the retail industry being no exception. From robotics automation to instant data transferring, technology has been transforming in reshaping the way consumers do online shopping these days. Major players in the retail industry have been leveraging modern-age, cutting-edge technologies like Artificial Intelligence (AI), Machine Learning (ML), chatbots and smart search software to revamp the buying experience of the shoppers.
Today’s Digital India is the world’s third-largest online marketplace which accommodates more than 150 million online buyers and this figure is expected to go beyond the 350 million mark by FY26.
While integrating advanced e-commerce software in regular business operations has become the new trend among most online stores, here is a peek into some of the latest technologies which are reshaping the online shopping experience:
AI – Artificial Intelligence
In their endeavor to understand customer behavior online retailers have been making the best use of artificial intelligence. With most businesses embracing the concept that user experience is most important for online sales and conversions, market surveys have brought forward that around 59 per cent of consumers believe AI-driven product data actually influences their shopping decisions. Further, by analyzing the customer behavior pattern, with the application of AI, online retailers can make recommendations of relevant and useful information to customers on products and services and more.
Chatbots
Enhancing customer satisfaction with instant information and with its wide-scale availability, chatbots have significantly automated the process of interaction between a customer and the online retailer. It can provide round-the-clock assistance and provide answers exactly when a potential customer is searching for them. One of the common algorithms used in chatbots is a decision tree, through which machine and deep learning is applied to automate complex business processes, essentially developing, and maintaining. Beyond the decision tree, the chatbots can also gain information on whether they have helped a customer or not.
Smart search
One of the key features in advanced online shopping is smart to search, which optimizes searches within the virtual store. An expanded application of artificial intelligence, smart search features have advanced characteristics like high speed, phonetic similarity, colour search 100 per cent automated, behavioral search customized for each customer, voice search, etc. The application of the technology enhances a consumer’s shopping experience and increases conversions and influences customer loyalty.
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Views expressed above are the author’s own.
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