How Leveraging AI can Elevate Sales?
When it comes to technologies like automation and Artificial Intelligence (AI), 67 per cent people say the prospect of AI being used to increase sales and profits by online retailers, if that use resulted in a better customer experience, said a new survey on Wednesday.
Software giant Adobe, along with YouGov surveyed over 7,000 respondents from various markets in JAPAC region including India, Australia, China, Malaysia, Thailand and Singapore to provide online retailers with key insights around the purchasing preferences of modern-day customers.
"As personalisation becomes vital towards unlocking the customer experiences of the future, there is a growing need for brands to augment and deepen customers' end to end engagement journey across the spectrum, and make it more meaningful and appealing for long term engagement," Nicholas Kontopoulos, Head of APAC Digital Experience Commercial Marketing, Adobe, said in a statement.
According to the software major, 56 per cent people are more likely to buy from retailers using AI capabilities as long as they offer low prices, excellent customer service and online experience.
Titled "Listen: A Magento Meaningful CX Series", the survey underpins the ever-increasing importance of customer experiences for brands looking to stay ahead in the hyper competitive online retail space.
Further, almost one-third the consumers or 31 per cent respondents said they were happy to get product suggestions
basis their search history -- underlining the growing need for personalisation.
Meanwhile, for online retailers, it's no longer a simple case of bricks vs clicks anymore. While price remains a
key determinant, the study suggests that online retailers need to focus on developing seamless, enriching customer experience strategies to engage modern customers.
Fifty one per cent of the surveyed customers said it's important for websites to work well on smartphones.
Underscoring the importance of accessibility, half the consumers (50 per cent) said they would choose to buy from a retailer if their website is easy to use and navigate while 47 per cent would do so if it loads quickly.
Almost half (46 per cent) of Indian customers prefer engaging with a retailer online for the second time if loyalty schemes are extended -- this is only behind Singapore (53 per cent) in the entire APAC region.
