AI technology allows brands to boost merchandising efficiency, enhance results and move quicker without extra manual work. It achieves this through machine learning and algorithms that improve over time. The product discovery experience of guiding customers to relevant products can be directly enhanced by these AI technologies.
Merchandising teams in particular can benefit greatly from AI as they provide valuable customer insights through real-time analytics. But what are the specific benefits provided by AI, and how are merchandising teams using it to bolster product discovery?
The driving force behind product discovery is understanding your customer. In order to create intuitive and personalised user experiences, merchandising teams would have to manually analyse customer data to produce actionable insights. This usually involves a considerable amount of time and money to employ dedicated analysts.
AI is able to collate customer data and translate it into relevant products and pages in real-time, automating a personalised shopping experience. Merchandising teams that utilise AI are able to take full advantage of automation to not only personalise the shopping experience, but create focused strategies based on reliable data. This provides merchandising teams with the customer data they need to boost conversion rates whilst simultaneously saving time and resources.
On-site search is a vital component of any product discovery platform. Almost every customer will end up using the search bar during their shopping experience, and those that do are 5x more likely to convert and spend 3x as much as those that don’t.
AI-powered search utilises self-learning algorithms based on user data to understand the natural language of customers and connect categories, pages and products together. This can refer to long-tail searches such as, ‘women’s bags that are waterproofed,’ which can be interpreted by AI to present the correct search results even if the language used is not in the product content. Merchandising teams can then take advantage of AI-powered search to provide customers with products relevant to their specific search as well as their shopping history, effectively eliminating the risk of zero search results and significantly boosting sales and conversions.
AI-powered tools allow tailored merchandising where teams can manually control the level of curation that takes place during product discovery. This allows for a brand to work in harmony with the AI systems to rank pages and prioritise brands, colours or styles based on a customer’s specific experience.
A successful combination of AI systems and tailored merchandising can help improve brand awareness alongside maximising revenue and conversions. It also allows businesses to promote time sensitive deals and products to customers that may be interested based on their browsing behaviour, further increasing revenue.
By leveraging AI in product discovery, your ecommerce stores become more relevant, personalised and intuitive. Our clients have seen significant increases in conversion, average order value and revenue, directly attributable to AI site features.
At Attraqt, we offer an arsenal of AI-powered product discovery tools that can optimise your on-site search, personalise your merchandising and automate discovery processes. Our platform self-learns and continuously improves: adapting to varying factors such as stock turnover, customer volume and persona groups to provide significant boosts to sales and conversions.
Do you want to implement AI into your product discovery journey? To find out more about how Attraqt’s product discovery platform and AI-powered tools can help your online store thrive, request a demo or speak with a member of our team.
