Independent e-commerce sellers must be able to offer customers unique online experiences that are different from Amazon. This personalized experience could be created using artificial intelligence (AI). It can help increase sales and traffic for businesses.
In this fast-paced and ever-changing world, it is important to have a simple-to-navigate website, quick shipping, and excellent customer service. With AI-optimization, retailers are now able to take into account a customer’s name and gender as well as their location, age, gender, preferences, and other information. According to Lydia Hanson, they can gather data and respond quickly to customer needs.”
Ecommerce is growing at an amazing rate, with 51 percent of Americans shopping online from their homes. According to a study, retailers that use personalization strategies experience sales growth of 6-10%, which is two- to three times greater than the average retailer.report by Boston Consulting Group(BCG).
According to the report, brand individualization allows customers to build loyalty by customizing their brand experience for each context user journey. To truly create a customized experience for customers, it is important to monitor their purchases and identify the products they are most interested in. This is similar to Lydia’s example.
This can be seen in Netflix (r),. The report shows that the company collected data about customers before they moved from sending DVDs to streaming TV shows and movies online. Although it may seem like a tedious task, it can pay off in long-term, as Netflix (r), showed.
According to aStudy by Google and Ipsos ConnectIn the last year, YouTube has seen 40% growth.(r)The platform allowed users to find out more about the product before purchasing it. Customers still love the real-looking products. It’s almost as if they are actually in the store looking at it.
This is possible with the aid of AI technology. Sephora has a lipstick app that allows customers to find the perfect shade without having to actually try many colors. This allows customers to get that personalization feeling in-store from their own homes. They can also stay on the app and read reviews about the colors.
According to BCG, companies should ask themselves questions like “How can we reinvent our customer journey to reduce friction?” What customer needs are they not aware of? What can we do to have meaningful conversations with customers throughout their journey, rather than pushing static campaigns? As you gather answers to these questions you will be closer to understanding each customer’s core values.
While AI implementation in ecommerce stores is not easy, the stakes are higher. You want your customers to return to you after the success of Amazon Prime Day, which broke all-time sales records last year. Retailers who don’t want to lose out should act quickly before customers start forming relationships with rivals.
Cyber Monday is a big holiday sales day. It’s the Monday after Thanksgiving, Black Friday and Black Friday. In 2005, the National Retail Federation announced that Cyber Monday had become one of the most important online shopping days of the year.
This announcement was made in response to a 2005 Shop.org/Bizrate survey that showed that 77% of online retailers reported significant sales increases on Mondays after Thanksgiving. Threeteen years later, Cyber Monday spending has not slowed down. Cyber Monday sales reached a record $6.59 Billion last year, surpassing Black Friday’s $5 Billion online sales.
These are seven quick tips to increase sales on Cyber Monday.
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1. Digitize impulse buys
Impulse purchases are a common occurrence for retailers. Unplanned purchases account for 40% of consumer spending. Millennials, especially female Millennials, are more likely to buy impulse items. You can make those sales online by appealing to shoppers’ FOMO (fear of missing out) by offering limited quantities and time sales on the most popular items. You can even host these sales on social media to let shoppers see how quickly your items sell.
Gift cards are the most sought-after product category for holiday shoppers, with more than 55 percent planning to purchase gift cards. To ensure you don’t lose sales, offer gift cards on your website. You can also personalize your digital gift cards with more delivery options and tracking than physical cards. Online retailers love gift cards because they are the gift that keeps on giving, as 72 percent of card-buyers spend more than the original card’s value.
3. Modify your product descriptions
Unique photography and product descriptions will help you stand out from other online sellers. Unique product descriptions can also improve your Google search ranking.
4. Get mobile-ready
Nearly 60% of all online shopping is done via mobile devices. Your website must be optimized for smartphones to attract these shoppers. Mobile-first design allows you to make your products and content easily accessible on any digital platform.
The National Retail Federation reports that 68 percent online shoppers expect free shipping Many online shoppers expect free returns. Before the fourth quarter surge in sales, it is important to determine what you can and cannot accommodate.
6. You can change your offers
Keep your offers current to keep customers interested on Cyber Monday and throughout holiday season. Offer a special sale or product that isn’t available elsewhere. Your customers will be interested in the offer and excited to receive it. To keep your shoppers coming back for more, offer multiple deals at different times during Cyber Monday.
7. Strategize your Timing
According to studies, Cyber Monday shoppers spend more money in the morning. To make the best sales, don’t wait to send promotions until after-hours. So that emails are available to shoppers as soon as they wake up, many retailers send them out in the morning. You might also consider sending out additional promotions throughout the day to grab shoppers during lunch breaks or after work.
Online retailers can make Cyber Monday sales more profitable by planning and preparing well. Even a small effort can result in significantly more sales. This positive momentum can help you carry your business through the remainder of 2018 and beyond.