2017 will mark as the year of over 7,000 retail units (in U.S.) closing down (350% more than 2016!) according to latest internet trends report from Mary Meeker. This seems to hardly bother Amazon’s strategy of opening greater number of physical stores. How come? The answer lies in user experience.
Humans are spending both, more bucks and more seconds on our mobiles. As researchers debate over the effect of the excessive cell phone usage, one thing is certain – thanks to our little smart phones, the mobile ads market continues to rake in big dollars. In latter half of 2017, global internet ad spend is estimated to reach $ 200 Billion! Crossing even that of TV advertisements spend for the first time in history! Moreover, platforms such as Netflix and Amazon Prime are slowly but surely converting the smart phone into a one-stop entertainment solution.
What does this mean to e-commerce retailers? One, increased user interest and individual data surely make way for targeted advertisements. Two, retaining user interest and converting into sales will become all the more difficult due to added clutter. To increase conversions and make most of users’ interest, retailers are already putting latest tech to use.
At Infinite Analytics (IA) we have increased revenue (by over 25%) and AOVs for our clients through our AI platform ian. ian’s deep learning algorithms help make “conversational commerce” a reality. Intelligent systems continuously learn from social, transactional and historical user data to create accurate “user persona”.
Our proprietary Search enables users to easily access desired product catalogs through text, voice as well as visual search. ian’s one-to-one marketing will help you catalog the right product as per user preference hence ensuring maximum conversions. However, we at IA go a step further.
As Akash Bhatia (Co-founder and CEO) explains in this webinar, the best outcomes are often achieved by a confluence of machine intelligence and human insight. According to Mary Meeker’s report, curated catalogs increase revenues by 4x for both new and existing customers!* That’s the power we witness when “Machine meets human”.
As machines continue their march towards “human like” intelligence, it is time we embrace the future. Reach out to us for a product demo at ian@InfiniteAnalytics.com and upgrade to superlative user experience!
*Pg 63 of KP Internet Trends Report, 2017 by Mary Meeker
– Contributed by Aditya Kulkarni