The e-retail market is booming worldwide, and online retailers must remain aware of and focused on the latest stats and trends in the eCommerce industry. Staying up-to-date will enable them to make more informed strategic decisions that drive business growth. The Global Consumer Survey Report recommends that e-commerce companies should not only measure the Return on Investment (ROI), but they should also assess the Return on Experience (ROX) to determine how user experience impacts their business.
If an online retail business is to survive in the fiercely competitive e-commerce market, it must make customer experience a top priority, all the more so when studies show that the percentage of shopping carts abandoned is shockingly high at 68.8 percent. Abandonment of shopping carts is a critical problem in the eCommerce industry, which stems from a variety of issues related to the website’s design, slow-loading pages, a complicated shopping process, payment gateway errors, long response time, and unsatisfactory customer interactions. The Baymard Institute, an independent web usability research organization, pinpointed 39 areas where a majority of eCommerce companies need improvement to enhance user experiences, in terms of speed, convenience, accuracy, knowledge of customer preferences, and 24/7 availability.
To address the difficulties end-users face, many online retail brands are adopting AI in eCommerce customer journey stages. AI in e-commerce enables retailers to collect and analyze data in near real-time, facilitating competence and efficiency in driving revenues and enhancing personalized experiences. In this eBook on AI in ecommerce, you will learn the use of AI in the ecommerce industry, its applications, and the job opportunities opening up due to AI’s growing prevalence in ecommerce and more. You can also enroll in our globally-renowned programs to bolster your AI expertise, including:
1. Caltech Post Graduate Program In AI And Machine Learning
2. AI Engineer's Masters Program
Don't miss out on this valuable resource that can propel your e-commerce business to new heights. Download the AI in ecommerce guide now and unlock the transformative power of AI in the e-commerce industry.