E-commerce has always been a game changer in the global business environment. It has disrupted the traditional brick & mortar industry and forced physical retailers and companies to re-think the way they have been doing business. The E-commerce companies continued to reinvent the game and with new technological developments they have been constantly evolving, with additions like – mobile apps, e-wallets etc. However, the pace is not slowing, instead more and more new technologies are emerging every day. Overall – we can classify these new advancements into two major categories – AI/ML driven changes and other Technology trends in E-commerce.
WHAT IS AI/ML?
It goes without saying that AI and ML are not same. AI refers to a computer’s ability to imitate human logic, and make decisions like a person would. Machine learning is a subset of artificial intelligence. Machine learning technology uses data to make predictions or perform actions. The more data the tech gets exposed to, the more accurate its outputs. In essence, AI uses ML to take a set of data and figure out how to work with it. There are huge data sources in E-commerce business which can be used for AI/ML like – Purchase / search history, Reviews, Customer support & service data, Operations & Logistics, social media, Site Usage analytics, Natural language etc.
HOW AI/ML IS IMPACTING E-COMMERCE?
1. RECOMMENDATION ENGINE
Smarter recommendations lead to more sales, especially for larger retailers with millions, perhaps hundreds of millions of items. In fact, AI-enabled personalized product recommendations for online shoppers are increasing conversion rates by 91.5%. Customers these days want intelligent product recommendations and AI/ML are enabling the same.
2. SEARCH EXPERIENCE
Search is probably one of the most important areas where advanced technologies are having maximum impact in the E-commerce world. AI is enabling different search options like – Visual Search, Image & Video Search, Voice Search for users. These options are revolutionizing the way B2C and B2B companies are doing E-commerce business.
3. AI ASSISTANT FOR CUSTOMER SERVICE
Customer Service and support are an integral part of any business & always a challenge to excel. Artificial intelligence developers have a brilliant solution for this: automated sales reps. They come in the form of chatbots, virtual assistants, and even voice-command assistants.
4. DYNAMIC PRICING
Using AI/ML, businesses now can change the price of the product based on supply and demand in real time using dynamic pricing strategy. It leverages customer data, competitive pricing data, and sales transaction data to predict when to discount, what to discount, and dynamically calculate the minimum amount of discount needed to ensure a transaction.
5. PREDICTIVE BEHAVIOR MODELING
Predictive behavior modeling can be used to make predictions on a plethora of sales related things:
6. AI FOR OPTIMIZING INVENTORY & LOGISTICS
Efficient Inventory Management, Warehouse Management and Optimizing logistics also are deeply impacted by AI/ML. Supply Chain Management, reducing delivery time, on-time delivery, location identification- are some of the key pieces where companies are actively using advanced tech.
7. REVIEW MANAGEMENT
Filtering fake reviews or boosting sales through positive reviews – in both cases AI/ML can play critical role.
8. FRAUD DETECTION
Fraud detection and fraud protection, then, are essential processes for all online stores. Machine learning technology can beef up these processes and make them more efficient.
9. HYPERLOCAL E-COMMERCE
Ecommerce businesses are increasingly leveraging hyperlocal ecommerce as it allows them to create multiple sub-stores based on customer geo-location, catering to the unique needs of targeted customers.
10. HEADLESS COMMERCE
Headless commerce provisions the decoupling of the presentation layer or front end of a website from its functionality or back end. This facilitates developers to utilize front end technology of their choice to deliver a good content experience and plug in an ecommerce solution on the back end to manage the functionality.
11. CONTENT PERSONALIZATION
Properly personalized content on the website or mobile application increases conversion and customer engagement. The selection of the best content is possible thanks to machine learning algorithms for e-commerce.
12. AR & VR
By integrating immersive technologies like AR and VR into existing ecommerce stores, brands are making shopping experiences more friendly, intuitive and satisfying. These technologies are changing the way business’ function and revolutionizing the ecommerce industry.
Copyright © 2023 AlCircleBiz All Rights Reserved.
'Most searched' on AlCircleBiz
Raw Materials and Consumables:
Magnesite | Fluorspar | Propeller Scrap | Tin Brass Scrap | Gun Metal Scrap | Honey Brass Scrap | Silicon Metal 2202 | Silicon Metal 3303 | Silicon Metal 421 | Silicon metal 441 | Silicon metal 553 | Silicon Metal | Silicon metal 553 | Silicon metal 441 | Silicon metal 3303
Machinery and Equipment:
Aluminium Scrap 6063 | 3004 Aluminium Foil | Aluminium powder | House on Wheels Interior | Radiator Door | Aluminium Caul Board | Aluminium Coil | Aluminium Corrugated Sheet | Aluminium Chequered Sheets | Aluminium Sheets | Aluminium Scrap 97 Purity
Screw Module Series | Aluminium Die- Casting | Aluminium Medical Equipment Profile | Led Aluminium Profile | Mobile frame series | Electronic Series | Chamber series | Bike Accessories | Aluminium Tope | Aluminium Circle | Aluminium Extrusion | Standard Geometric Profiles
Utility and Services:
Logistics Services | Equipment Assessment Service | Material Audits & Valuation Service | Remelting of Aluminium Scrap Service | Cable Recycling Service | Warehousing and Distribution Service | Sea Freight Service
Aluminium Buying Leads:
Aluminium Selling Leads:
AlCircleBiz: CONNECTING BUSINESS - IN THE GLOBAL ALUMINIUM INDUSTRY
Founded in 2019 and based out of Singapore, AlCircleBiz is the world's 1st online B2B marketplace for the global aluminium industry, connecting businesses. One of the biggest USPs of AlCircleBiz is – it covers the entire aluminium value chain i.e., from - raw materials and consumables, primary aluminium, equipment, aluminium products, scrap, technology, service providers – bringing everything under one roof.
When you register on AlCircleBiz, you can post business leads, get to explore all listed products and services and can send enquiries directly to the sellers. When you onboard as a registered seller, you can list unlimited products/services to get new customers & grow your business in the domestic as well as international aluminium industry.
BUY/SEND ENQUIRY FROM AlCircleBiz
Raw Materials and Consumables
Find quality & verified aluminium raw materials and consumables suppliers, manufacturers, exporters, importers and buyers around the world. Get contact details and address of companies & reach out to them through online enquiries. From Propeller Scrap, Tin Brass Scrap, Gun Metal Scrap, Honey Brass Scrap, Silicon Metal 3303 and more. Discover sellers like Xiamen JCX Import And Export Co.Ltd, Al-Azeem Enterprises, Madina Metal and more.
Find Primary aluminium manufacturers and suppliers. Choose reliable and genuine primary aluminium manufacturers, suppliers, exporters at AlCircleBiz. Aluminium Ingot, Billet, Alloy Bar latest price from sellers like RADIANTA ALLOYS PVT. LTD., Shayona Impex, Silver Rush Exim and more.
Machinery and Equipment
Find quality aluminium machinery and equipment, suppliers, manufacturers, exporters, importers and buyers around the world. Send enquiries on aluminium machinery and equipment products to get price quotes and other information.
Find quality & verified aluminium products suppliers, manufacturers, exporters, importers and buyers around the world. Latest price on aluminium products. Get contact details and address of companies manufacturing and supplying aluminium products.
Find quality aluminium end user product suppliers, manufacturers, exporters, importers and buyers around the world. Get contact details and address of companies manufacturing and supplying aluminium end user products.
Utility and Services
Find all different kinds of aluminium utility and services providers around the world at AlCircleBiz. Get contact details and address of companies providing utility and services for the aluminium industry.
SURPLUS, a unique feature of AlCircleBiz, to help you sell any unused assets, with customized and dedicated marketing to attract immediate customer needs. If you have any unused product, raw materials, scrap or used equipment or machinery and you want to sell it off, then you can get verified enquiries from potential customers by availing this SURPLUS feature.
Aluminium Business Leads
Both sellers and buyers can post business leads for any specific requirements & can choose to respond to other active business leads.
Post Buying and Selling leads at AlCircleBiz is easy, fast & super affordable! We follow an authentic online method of reaching a niche audience and once you have posted a lead, you can get an unlimited number of responses against your lead. These business leads cover the entire aluminium value chain that includes Raw Materials and Consumables, Primary Aluminium, Machinery and Equipment, Aluminium Products, End User, Utility and Services and Surplus Products.
The in-house team of experts at AlCircleBiz is trained to check and verify the authenticity of online presence of all their registered sellers and business leads, hence you get a list of reliable product suppliers and only verified leads.
SERVICES AND PRICING
Registration on AlCircleBiz is FREE. With Registration, you get the following benefits -
- Explore AlCircleBiz platform to get connected with global sellers and buyers
- Check out all products/services & send unlimited enquiries directly to the sellers
- Post unlimited buying and selling requirements as Business Leads
- Get responses from potential customers against your posted Lead (First 10 responses in one year are free)
- Check out other active Business Leads and respond directly to the clients at No Cost - Unlimited Responses
If you onboard yourself as a registered seller for FREE, you get the following additional benefits
- Get free company profile page on AlCircleBiz website
- List unlimited number of products/services
- Get enquiries directly in your Inbox from potential clients (First 10 enquiries in one year are free)
We also have many paid offerings - like MyBiz, Surplus, Advertisement Solutions etc.
Visit us at: www.alcirclebiz.com
Global marketplace for the
entire aluminium value chain.