Artificial intelligence (AI) is the protagonist of our century; its beneficial nature brings comfort and enhanced functioning into every sphere of our lives. While its true potential is still to be explored, it is already used by businesses, especially E-commerce, to deliver exceptional shopping experiences to customers and dominate in the chosen niche.
Magento is one of the leading E-commerce solutions, which offers the capacity and tools to develop any type of E-commerce unit, which is characterized by unparalleled level of customization, scalability, and flexibility.
AI and Magento are already leading solutions to use, yet when they are combined, the E-commerce efficiency surpasses even the most daring expectations.
Let’s learn what novelties the duo can bring into the E-commerce functioning, and how to reap all the benefits of AI while performing the Custom Magento Development.
What Are the Key Artificial Intelligence (AI) Novelties?
The ever-evolving landscape of E-commerce has created fierce competition and the need for constant improvements of services. Personalization is one of the key principles to consider when elaborating on engagement strategies.
AI-propelled tools let businesses tailor the shopping journey according to the customer’s needs, giving insights into behavioral patterns, purchase history, product preferences, etc. Thus, the target audience-oriented marketing turns into a customer-oriented one, leveraging the level of satisfaction, and thus, overall shopping engagement.
2. Customer service
AI tools have revolutionized customer services, introducing chatbots and virtual assistance. The two can handle simple and routine requests, and provide basic assistance regarding product information, delivery details, etc. While chatbots assist with simple queries, customer service with human-based assistance can handle more complex issues, thus, every customer and their problem is covered.
E-commerce development will stagnate without the usage of analytics. The AI-propelled algorithms analyze all the incoming data regarding the customer’s typical behavior, current market trends, pricing policies, etc. The frequency of the reports depends on the size of the store, and the business needs, and helps to make timely decisions regarding store functioning.
AI simplifies the workflow of the E-commerce store by handling tedious and repetitive tasks like order processing, inventory management, customer segmentation, etc. What’s even more important is such automation eliminates the risk of human mistakes, elevating the efficiency of the store’s functioning.
5. Dynamic pricing
Pricing policies are rather tricky, as it is difficult to set the right and balanced price. While profitability is always in focus, it is important to retain customers, who can easily shy away because of the overpriced goods.
Artificial intelligence helps to analyze the competitor’s pricing dynamics, current market conditions, and customer behaviors and find the right pricing positioning.
6. Supply chain optimization
The supply chain is the heartbeat of E-commerce, as it is uninterrupted and seamless functioning and is responsible for the timely production and delivery of the goods. With the implementation of AI, the whole logistics is taken to a new level, including inventory management, demand anticipation, enhanced warehouse functioning, etc. AI lets implement the principles of lean manufacturing and just-in-time delivery, which significantly save the business budget from wasteful spending.
7. Augmented and Virtual realities
AR and VR technologies started a new era of shopping experience. Nowadays, customers can do online shopping, while experiencing physical store-like involvement.
AR technology lets the shoppers decide on the right product simply by overlaying its image over its future placement – furniture, clothes, accessories, kitchenware, household tools – everything can be checked for suitability just by implementing a specific extension to a Magento platform.
VR ‘organizes’ virtual tours, letting the users observe and feel the surroundings and the atmosphere, which is particularly beneficial for real estate industries.
8. Voice commerce
Voice commerce allows a shopping journey for those who are busy or incapable of performing the website interaction. The customers are guided by voice assistance without distracting from their main occupation.
Magento AI-propelled Tools
Magento offers a list of AI-propelled extensions, each one being responsible for a vital part of an E-commerce store functioning.
- Adobe Sensei – responsible for product recommendations, search, and content optimization.
- Klevu – enhances product discovery, and search accuracy, provides autocomplete suggestions,
- HiConversion – presents insights into customer behavioral patterns and provides personalized content recommendations.
- Yusp – a recommendation engine that is responsible for product recommendations, cross-selling suggestions, and personalized content,
- Tagalys – a merchandising solution that optimizes product sorting, and boosts relevant goods in search results and category pages.
- Sentient Ascend – conversion rate optimizer, which helps to test various designs and choose the ones that are most suitable for improving conversions.
These are just a few extensions that can be integrated into a Magento-based E-commerce platform. The whole list of suitable functionalities can be discussed with Dedicated Magento Developers, like Emerline, whose level of expertise and knowledge will deliver the perfect version of your E-store.
The Final Thought
The Magento platform and artificial intelligence are a winning combination for every E-commerce store. Magento is a solid E-commerce platform with cover-it-all functionalities to create, maintain, and expand the impact in the market niche. AI takes the store’s performance to a new level, introducing automation, timely reporting and insights, customer assistance, etc. The integration will benefit the business, as well as the customers, whose shopping journey will seem to be better than ever.
If you are looking for E-commerce improvements, contact the Emerlline company, whose team of professionals will share their knowledge and offer top-notch guidance regarding the matter.