The E-commerce revolution: What Einstein AI brings to the online sales world?

At the helm of the information revolution, came the dawn of a new age where an increasing number of users were hooked online, resulting in a drastic shift in shopping patterns. Today, eCommerce has firmly occupied a position as a facet of our lives and is no longer considered a luxury. 

Technology has truly redefined the industry and is being viewed as a viable resource to improving the sales prospects of retailers. A fine example is Amazon, retail giant that has ruled the space for over 20 years, and continues to reinvent its offerings.

Retailers are keen on making it big, but how can it be achieved? That’s where web services like Salesforce, Oracle, etc. come in.

The dawn of AI:
 
Before AI and machine learning swept the online community, customer experiences were awful. But since customers were accustomed to it, it was survivable. However, with time, the industry positioned itself in a positive light undergoing a tremendous transformation. 

The newest addition came with Salesforce unveiling the latest edition of its eCommerce solution, Salesforce Commerce Cloud. Furthermore, Salesforce is also inserting its ingenious Einstein AI into its products to provide shoppers with AI-powered personalized shopping experiences.

E-commerce Website development

What is the Einstein AI?
 
Einstein is a highly intuitive AI that promises to be a game-changer in the way we perceive the eCommerce realm. Simple, smart and highly successful, it learns from crucial data and delivers predictions based on its observations. The AI also automates a few tasks, freeing up a lot of time for retailers to engage in other crucial tasks.

It’s role in eCommerce: 
 
•    Personalizing interactions can nudge customers into making purchases. Artificial Intelligence can be used to capture customer data, study it, and deliver relevant information for maximum effect.
•    Using web behavior, order history, and other details, the Commerce Cloud can generate a model for each shopper.
•    There’s a new Order Management capability that makes use of intelligent algorithms to connect customer demand with supply in the best possible manner.
•    Salesforce also brings in mobile site reference architecture, Google Android Pay integration and a data model for an eCommerce site
•    A Predictive Sort feature is also being made available, which will use machine learning to sort how products are displayed in pages using user behavior.

 The combination of AI/ML with eCommerce is a power-packed one. Explore its fullest potential by getting a store infused with extensive features. Get in touch with Openwave in Malaysia!

5 Ways Retailers are embracing the Internet to Do Business

Global internet penetration is at an all-time high. Half of the world’s population (over 3.8 billion people) uses the net in some way or the other during their daily lives – especially when it comes to shopping. Shopping online, after all, saves them from having to stand in line at the local store. Also, people get big discounts on the net.

Stiff competition from e-retailers  
 
Real-world retailers – those that own brick-and-mortar stores – are losing a significant amount of business to exclusively online retailers like Lazada.com. They can only retain customers by embracing technology to provide useful services to clients.
Here are 5 top online payment trends that retailers need to adopt to do business:

Accepting mobile payments
 
The more payment methods you can offer to customers, the better. Mobile payments are steadily gaining in popularity worldwide and are a very convenient method. EMV terminals at the checkout allow a client's phone that has NFC technology to receive payments quickly through mobile wallets like Apple Pay and Samsung Pay.

Online store

Creating shopping apps
 
Customers want to be able to shop fast and easily. Merchants – especially big brands – are now releasing mobile apps that assist them while they visit a store. The app lets them create wish lists, check the price of products, availability, get targeted discounts as well as keep track of purchase history. Shopping apps also allow customers to buy a product quick without standing in line. 

Online purchase and real-world pickups
 
The ‘BOPUS’ phenomenon – or buy online and pick up in the store – is gaining traction too. Customers are making quick purchases online and – instead of waiting for days or weeks for delivery – are heading down to a local store belonging to the brand to pick up their purchased item that very day. 

Customised loyalty programs
 
Traditional loyalty programs are no longer as effective as they used to be. Only a small percentage of shoppers actively use them. Instead, retailers are now coming up with customized loyalty programs that offer personalized rewards, depending on a buyer's taste and purchasing history.  

Selling directly on social media
 
Social media users have long been able to share their favorite products and services on social media. Facebook – backed by Shopify – is now allowing users to not just view, but also directly buy their favorite products from their news feeds. Retailers are taking advantage of this trend to sell more products than before.
 
Openwave is an IT services provider that specializes in eCommerce Website development. We can help retailers bring their business online – by creating websites, e-stores, and apps – at very affordable prices.