The Importance Of Ecommerce Personalization In Regards To Product Efficiency And Profitability

Two new Artificial Intelligence, or AI features for visual searches have been launched by eBay. This ecommerce personalization allows users to use social media images for their searches. The platform images are shared with the eBay app, and product listings are generated for similar images. eBay’s work to improve their visual search capabilities and search functionality has been extensive. With more than one billion listings for products, ecommerce personalization was necessary for consumers to find their desired products.

The AI technology has improved categorization, product display and product search features. The visual search effectively eliminates language barriers when consumers search for products. Ecommerce personalization has created a superior search experience online since customer searches are now personalized. As an early user of this feature, consumers may leave retailers who do not have the visual search available to shop at eBay. Retail has not yet widely adopted the visual search despite the benefits. The technology has only been implemented by eight percent of retailers, and according to reports, 68 percent do not plan to implement the technology. This may provide eBay with a competitive edge against their competition while increasing their revenue.

Most retailers are currently using technology to combine the convenience of an online portal with the benefits of a personalized feeling similar to in-store shopping. This is powered by AI, and provides consumers with recommended products using language or images. Ecommerce personalization can add value to retailers who have implemented this strategy. Retailers have experienced sales increases from six to ten percent faster than retailers not employing the new AI technology. According to Accenture, this may boost the retail and wholesale industries profits by 59 percent by 2035.

According to a detailed AI ecommerce report written by one of the research analysts at BI Intelligence, offering a personalized shopping experience is of great value to retail. Case studies have been used to document the advantages gained by retailers employing ecommerce personalization. This application includes personalizing tailored product recommendations, online interfaces, provides useful and immediate customer service, and increases the relevance of search results for consumers. There may be challenges for retailers once they have implemented the AI technology, but they can be overcome without much difficulty. This includes inflexible and outdated storage systems and organizational barriers. This can prevent the efficient execution of personalization strategies. Overall, the benefits received by a retail business implementing AI and ecommerce personalization outweigh any negatives.

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