There have been a huge development within the eCommerce space since the start of 2021 and to recap the first quarter within this industry, we have rounded up a few articles that highlight the exponential growth that the eCommerce industry has experienced and the insights that experts have that you can find below. What are your thoughts and insights to how AI has been developing since the start of the year?
The fashion industry runs on changing trends within each season and one of the big things that fashion brands and retailer look after is inventory management. When inventory goes unpurchased, it leads to overstock and waste. With the building attention on sustainability, data is extremely important as it provides the quantitative insight given the rapid pace of trends. This article gives some insights as to how data will be a key factor in helping reduce waste and provide a more personalized experience for customers.
Find out in the full article here: https://e3zine.com/how-data-driven-trend-forecasting-is-revolutionizing-the-fashion-industry/
It has been found that 53% of businesses in retail have increased their pace of AI adoption during COVID-19. However, there are 49% that state that the pace of AI adoption has been too fast. This article encapsulates a lengthy discussion from professionals across the industry to weigh in on whether or not the progress of the eCommerce industry is able to adapt to the progression of AI. There are a mix of perspectives from a number of experts in the discussion, what are your thoughts to this?
Find the link to the discussion here: https://www.retailwire.com/discussion/is-ai-adoption-moving-too-fast/
With more and more brands going online, it comes with a risk of users returning products because of how the product doesn’t suit them entirely and thus, causing inventory problems. Through focusing on the implementation of personalization tools and using Amazon as a prime example, this article outlines how recommendations are critical in creating a personalized customer experience and brands will be able to reduce returns.
Find the link to the full article here: https://www.rollingstone.com/culture-council/articles/ai-fashion-e-tailers-returns-1137813/
This is for readers that are looking into something more technical. This article dives deep into how organizing data is imperative to how the end-user’s experience will be. Both product and customer data are able to provide designers information in order to make taxonomy and CX decisions as well. It is the data that will prove to be a key player that helps businesses have a customer experience journey that is of high caliber. The main takeaway from this is to ‘think IA (information architecture) before AI’.
Read it in detail in the article here: https://www.rtinsights.com/the-architectural-imperative-for-ai-powered-ecommerce/#
Get in touch with our team today if you would like to find out more about how to implement AI solutions for your brand!