The e-commerce industry has always been one of the main frontiers for new technological advances. Machine learning is among the biggest disruptive technologies to ever impact the field of online commerce.
What changes can many brands in the e-commerce sector expect to witness from new developments in big data and machine learning? How can new companies in this sector use AI to maintain a reasonable competitive edge, as they struggle to compete against giants like Amazon?
The biggest benefit is that machine learning can help make it easier to design new online stores. This is the biggest advantage for new e-commerce companies. Many companies will use an online store builder to reach customers a lot easier.
Machine learning design is invaluable for e-commerce countless startups in the 21st-century
The e-commerce sector has undergone explosive growth since the beginning of the century. In 2019, over 1.9 billion people around the world purchased products and services over the Internet. E-commerce sales amounted to $3.5 trillion that year.
E-commerce is growing even faster this year due to the COVID-19 pandemic. Many people are discovering the countless benefits of online commerce. As more companies improve their business models to attract these prospective customers, interest in e-commerce should continue to gain momentum for the foreseeable future, long after the pandemic has come to an end.
Machine learning technology could prove to be incredibly valuable for new e-commerce startups. These companies have a limited budget, which means that they need to invest in products and platforms that offer the highest possible return on their investment. Artificial intelligence has proven to be incredibly useful for companies in this industry.
One of the biggest benefits of machine learning is that it can help automate the process for developing new online stores. This is a major selling point that new e-commerce entrepreneurs cannot overlook.
What are the benefits of using machine learning to help set up an online store?
There are a variety of ways that machine learning can help automate the process of setting up a new e-commerce store. Some of these benefits are listed below.
Simplify the design through content personalization
Content personalization is a very important trend for e-commerce companies. Many people claim that they don’t enjoy feeling like they are being tracked by online brands that they partner with. However, they are willing to sacrifice some of their privacy in exchange for a better user experience.
Content personalization is something that consumers actually want when they are buying products online. In fact, one poll found that 66% of customers wouldn’t follow through with the purchase if the sales funnel had not been personalized for them.
Machine learning algorithms make content personalization possible. They use a variety of signals to track and identify customers, such as the email address that the customer is logged in with, their IP address and prior purchases that they have made on the site. Content personalization allows you to create a user experience that is most conducive to the needs of your specific visitors. You can also recommend the most appropriate products and services for them.
Use much higher quality templates for your website
The first step of the web design process is understanding customer expectations when visiting your site. You need to find a website template that is going to reflect their needs.
Unfortunately, this can be a very tiresome process. You need to understand all of the different types of templates that are available and know which ones are most appropriate for your specific e-commerce model.
Machine learning has made the process far easier. Wix is a company that has been at the forefront of artificial intelligence technology in website design for years. E-commerce companies can benefit a lot from the machine learning solutions that this company has developed.
A post from Wix back in 2016 talks about some of the benefits of their machine learning solutions:
“So many people are talking about ‘Artificial Intelligence’ – but what does it mean for website design? Wix ADI’s algorithm is the stuff computer science dreams are made of, with results that are anything but robotic. Anyone will be able to use Wix ADI to create stunning, unique websites instantly that will set a new standard in web design.”
The benefits of using a machine learning driven solution from Wix are unbelievable. You can get started by simply answering a few easy questions about your business needs. The platform will quickly come up with some appropriate templates that you can use to begin constructing your website. If you specify that you are developing an e-commerce site, then it will provide a ton of options to help you get started.
Machine learning is changing e-commerce design forever
There are a lot of great benefits of using machine learning in the e-commerce sector. A growing number of online stores are using it to streamline the design process, which will make it far easier to reach new customers in the years to come.