Buyers Demand AI-Supported Tools While Exploring N
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Posted On: 04/30/2024 3:05:42 AM
Buyers Demand AI-Supported Tools While Exploring Novel eCommerce Categories
As online marketplaces such as Amazon, eBay and myriad other alternatives have become one of the most common ways for consumers to buy goods, these companies have become increasingly demanding on AI-supported tools designed to help them explore novel shopping categories.
Consumers now want the same kind of personalized, expert guidance they would get in a brick-and-mortar store when they try out unfamiliar products on online marketplaces, one industry executive says. Artificial intelligence (AI) could fill this role quite effectively by helping online shoppers overcome the initial hesitance involved with trying out new products.
Emily Heintz, founder and chief curator of nonalcoholic beverage retailer Sèchey, said the company has to be able to teach customers about products digitally if it wants the clientele to engage with its online store as they would with a physical store. Consequently, Heintz says the company leveraged AI to offer product recommendations and create a glossary of terms that can simulate the experience of walking into a store and asking the staff about functional ingredients in a product.
A PYMNTS Intelligence report titled “AI-Enabled Payments Enhance Customer Options” notes that although the majority of consumers are skeptical about AI-guided shopping experiences, many are still interested. Based on a study that drew data from a poll of more than 2,300 American shoppers, the report found that 44% are “somewhat interested” in incorporating AI-supported technologies into their shopping experiences.
Unsurprisingly, more than 50% of the younger generations. including 54% of millennials and 69% of Gen Z consumers, were part of the cohort interested in AI-assisted shopping.
Another PYMNTS Intelligence study, titled “Consumer Inflation Sentiment Report: Consumer Interest in Artificial Intelligence,” found that more than three-quarters of customers had seen at least one online AI-powered product recommendation while a different study, titled “2024 Global Digital Shopping Index: U.S. Edition,” revealed that 44% of customers would rather shop in physical stores with no digital assistance compared to 26% of customers, who do the majority of their shopping online.
Although the technology is only a few years old at this point, advanced AI has the potential to help online retailers create engaging customer experiences and increase customer satisfaction by creating personalized shopping experiences. Many online retailers have already begun deploying AI-powered tools across their platforms to carry out various duties, often with encouraging results.
But for companies such as Sèchey that operate in the nonalcoholic beverage segment, AI technology may not be enough to save them from the volatility caused by a patchwork of state legislation. Even so, Heintz says the online retailer has partnered with trade organizations, national retailers and other brands to amend state laws in favor of the burgeoning sector.
As e-commerce entities such as NextPlat Corp. (NASDAQ: NXPL) (NASDAQ: NXPLW) ramp up deployment of AI in their systems, customers are bound to experience what they want as they are helped by these technologies to access the products that they need.
NOTE TO INVESTORS: The latest news and updates relating to NextPlat Corp. (NASDAQ: NXPL, NXPLW) are available in the company’s newsroom at https://ibn.fm/NXPL
Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: http://BMW.fm/Disclaimer
As online marketplaces such as Amazon, eBay and myriad other alternatives have become one of the most common ways for consumers to buy goods, these companies have become increasingly demanding on AI-supported tools designed to help them explore novel shopping categories.
Consumers now want the same kind of personalized, expert guidance they would get in a brick-and-mortar store when they try out unfamiliar products on online marketplaces, one industry executive says. Artificial intelligence (AI) could fill this role quite effectively by helping online shoppers overcome the initial hesitance involved with trying out new products.
Emily Heintz, founder and chief curator of nonalcoholic beverage retailer Sèchey, said the company has to be able to teach customers about products digitally if it wants the clientele to engage with its online store as they would with a physical store. Consequently, Heintz says the company leveraged AI to offer product recommendations and create a glossary of terms that can simulate the experience of walking into a store and asking the staff about functional ingredients in a product.
A PYMNTS Intelligence report titled “AI-Enabled Payments Enhance Customer Options” notes that although the majority of consumers are skeptical about AI-guided shopping experiences, many are still interested. Based on a study that drew data from a poll of more than 2,300 American shoppers, the report found that 44% are “somewhat interested” in incorporating AI-supported technologies into their shopping experiences.
Unsurprisingly, more than 50% of the younger generations. including 54% of millennials and 69% of Gen Z consumers, were part of the cohort interested in AI-assisted shopping.
Another PYMNTS Intelligence study, titled “Consumer Inflation Sentiment Report: Consumer Interest in Artificial Intelligence,” found that more than three-quarters of customers had seen at least one online AI-powered product recommendation while a different study, titled “2024 Global Digital Shopping Index: U.S. Edition,” revealed that 44% of customers would rather shop in physical stores with no digital assistance compared to 26% of customers, who do the majority of their shopping online.
Although the technology is only a few years old at this point, advanced AI has the potential to help online retailers create engaging customer experiences and increase customer satisfaction by creating personalized shopping experiences. Many online retailers have already begun deploying AI-powered tools across their platforms to carry out various duties, often with encouraging results.
But for companies such as Sèchey that operate in the nonalcoholic beverage segment, AI technology may not be enough to save them from the volatility caused by a patchwork of state legislation. Even so, Heintz says the online retailer has partnered with trade organizations, national retailers and other brands to amend state laws in favor of the burgeoning sector.
As e-commerce entities such as NextPlat Corp. (NASDAQ: NXPL) (NASDAQ: NXPLW) ramp up deployment of AI in their systems, customers are bound to experience what they want as they are helped by these technologies to access the products that they need.
NOTE TO INVESTORS: The latest news and updates relating to NextPlat Corp. (NASDAQ: NXPL, NXPLW) are available in the company’s newsroom at https://ibn.fm/NXPL
Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: http://BMW.fm/Disclaimer
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