FITA INSIGHTS
How Machine Learning Can Improve Your E-Commerce Business
By
Biki John
Jun 23, 2020
4 min read
Machine learning is a key way for e-commerce businesses to drive sales, meet their customer’s needs, and differentiate themselves from the competition. In this article, we explain the benefits of adopting machine learning technology.
Machine learning technology is much sought-after by apparel retailers but what is it?What is Machine Learning?In the competitive field of apparel and footwear e-tail, more brands are learning how to use machine learning and Artificial Intelligence (AI) to their advantage.While AI focuses on a computer’s ability to make speedier and better decisions that reflect human logic, machine learning is about the ability of a computer machine to predict user behavior by analyzing their interactions and behavior.Artificial intelligence has been able to revolutionize the e-commerce industry because it’s a technology that uses experience to improve performance over a period of time.
In other words, the more data that passes through its sophisticated machine learning algorithms, the better it becomes at predicting behavior. This is what makes it an attractive tool for retailers who want to offer a customer-centric shopping experience.
Key Reasons to Adopt AI in Your E-Tail Business
Offer Personalization
Mass offers are a surefire way to encourage your customer to look elsewhere.
In a blog article about user experience, we covered how “machine learning can enhance user experience in apparel e-tail”.
Machine intelligence is integral to retail businesses because it’s able to accumulate, study, and predict user behavior. Behavior like what items a shopper buys, what products they click on and the like are all invaluable information.
The e-tail apparel industry is a saturated sector. Shoppers are spoilt for choice and they know it. AI technology is able to help modern buyers sift through the seemingly neverending apparel choices online by offering products that align with their preferences.
Increase Sales
Machine learning enables businesses to give their customers what they need at the right time. This increases customer loyalty which can lead to a boost in sales.
If a user has a positive shopping experience with a brand, it increases the possibility of engaging for a longer time on the site. It also decreases the chance of the user being tempted to shop in other stores.
Tech experts, Outreach, believe that “the jury is no longer out on whether Artificial intelligence will boost the efficiency and effectiveness of sales teams—it does.”
It’s their belief that machine learning impacts positively on sales by allowing e-tailers to leverage data and make better data-driven decisions.
Reduce Returns
Fit Analytics’ size solution platform is powered by advanced machine intelligence technology and AI. Our vast dataset is comprised of the largest apparel and footwear statistics in the industry. We’ve been able to help retailers better serve their customers by offering fit and size recommendations and reducing their return rate.
Iconic footwear retailer, Footlocker(EU), was able to attain a 13.55% decrease in returns after using Fit Finder.
If you want to know more about how Fit Analytics’ machine learning solution can help your business meet its end goal, contact us.
To learn more about how we can help you and support your specific needs Contact us.
