3 More creative ways e-commerce businesses can use AI in 2024

3 More creative ways e-commerce businesses can use AI in 2024 | 4-minute read

Back in April, we brought you three creative ways that e-commerce businesses can use AI in 2024.

Since then, artificial intelligence has rapidly evolved. With new technology and updated machine learning algorithms, there are so many new ways to leverage AI in e-commerce.

Last time we mentioned, AI-driven personalised subscription boxes, virtual shopping parties, and interactive product demonstrations. Today, we bring you three more creative ways e-commerce business can AI in 2024.

To find out the latest updates in AI and how it can help you take your e-commerce business to the next level, keep reading!

AI-powered mood-based shopping

Using advanced AI tools, e-commerce stores can introduce mood detection algorithms to their website or app.

With this AI interface, customers can select their mood and use AI to curate product recommendations based on their input.

This adds an extra element of interest to the standard online shopping experience and creates a personal, and emotional, connection to the customer.

Additionally, emotion AI can also read and interpret emotional cues. For example, if AI detects a customer feels frustrated, it may recommend product categories, provide a discount, or trigger a live chat with customer support.

Examples of retailers already benefiting from mood match AI technology include H&M, The North Face, and Sephora.

Predictive trends

AI and machine learning can predict future trends by analysing influencer activity and historical data.

Provide customers with early access to trending products or even allows them to pre-order items based on these forecasts.

Use the data artificial intelligence gathers from social media, influencer activity, and sales trends to adjust your inventory and marketing strategy.

Examples of brands using fashion trend forecasting in the real world right now, include Instagram Shopping who curate personalised experiences based on influencer content leading to a 25 per cent increase in click-through rates.

Similarly, Facebook also leverages user data to provide a personalised shopping experience through Facebook Shops.

AI-powered visual search

AI visual search is revolutionising the way consumers search for products. Essentially, it lets you find products using images from your camera roll. A good example of this is the Samsung ‘Circle to Search’ feature.

No matter the product, visual search allows consumers to find the perfect item with ease.

When a customer uploads an image, artificial intelligence analyses its key features and searches the store’s inventory for similar items.

ASOS is an example of a fashion brand and retailer that has implemented a visual search tool into their website and app.

By implementing a visual search tool, you are likely to experience a lower bounce rate and increase in customer engagement and satisfaction.

Remember to take care of your accounts

While new AI developments and technology are exciting, don’t push the things that really matter to the side.

As you explore new opportunities for your e-commerce brand powered by AI, remember to take care of your accounting and financial obligations.

It’s easy to get swept up in the next big thing, we get it. So if you do want to free up some extra time to explore AI and the ways it can streamline your business, get in touch with the team at Unicorn Accounting today.

We can offer you an extra set of hands, so you know your accounts are always being taken care of.

Why choose Unicorn Accounting?

Ensure you keep on top of your finances and tax obligations by outsourcing to an accountant. This means that you don’t need to worry about your end of year accounts, payroll, or bookkeeping requirements.

At Unicorn Accounting, we are e-commerce accountants who help make your online business a growing success. We offer e-commerce accounting advice, financial management bookkeeping, cash flow statement, and tax filing services to support and scale your business.

Our team of accountants and Xero certified advisors have experience working with both small start-ups and family run online stores to large scale, international retail and e-commerce brands.

If you’ve got an online store, we have the best solution for you. Providing you with a financial arm to your business through our sector experience and skills with innovative technologies. To see how we can help you maximise the scalability of your e-commerce brand all year round, get in touch with Unicorn Accounting today or click here to get a free quote.

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https://unicornaccounting.co.uk/blog/top-e-commerce-trends-for-2024/

https://unicornaccounting.co.uk/blog/the-power-of-ai-demand-forecasting-in-e-commerce/