AI-powered Chatbots: Boosting the Retailer Economy

AI-powered Chatbots: Boosting the Retailer Economy

By: Retail CIO Outlook | Friday, November 30, 2018

It is challenging for retailers when they do not understand customer requirements precisely. This also happens to the customers who shop online. Customers search for a product online and if they find difficulty in searching the product, they would either skip the site or end up ordering. AI-powered chatbots have made this easy for the customers by providing answers to the questions and assisting them through agents when necessary. These chatbots prevent customers from walking away without purchasing and improving the shopping experience.

AI offers 24/7 support for better customer experience and makes them convenient with online shopping. Despite waiting for the customer to go through the products, AI enables the customers to easily purchase products by providing information on products. AI can interact with customers and suggest them with the products they probably need. Customers shouldn’t feel difficult to purchase a product online; instead, they should be provided with multiple options and at a lesser time. When the customers are confused to choose the desired product, AI can provide the history of every product earlier viewed by the customers. For example, a consumer might want to buy a pair of shoes online; AI-powered chatbots could start with greeting the person, asking for information regarding the boots and provide the customer with the best offers. Meanwhile, in the interaction, when a human is needed, the chatbot can redirect the customer to agents who will be provided with the chat information.

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According to Gartner Customer Experience in Marketing Survey in 2017, more than two-thirds of marketers responsible said that most of the companies competed based on customer experience (CX). The survey also stated that by 2020, 81 percent of the companies would completely compete on the basis of CX. With effective AI-powered chatbots, retailers can provide meaningful, purposeful, relevant interactions for customers that make them visit again. Retailers have to transform themselves from product-oriented to a customer-friendly environment which leads them to success and provides efficiency and optimization. Retailers who adopt the -powered chatbots can win over the e-commerce market in no time with better customer experience.

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