eCommerce is constantly evolving, thanks to the rapid advances in AI.
AI is helping online retailers optimize their operations and creating new ways for customers to shop online. Here, we’ll explore how AI is revolutionizing eCommerce in 2023, with a focus on three key trends: voice, social, and live-stream shopping.
Voice Commerce: The Ease of Hands-free Shopping
Voice shopping is the process of using voice commands to search for, browse, and buy products online. Voice shopping is enabled by voice assistants, such as Amazon Alexa, Google Assistant, and Apple Siri, which can understand natural language and respond to user queries.
Voice shopping is becoming more popular among consumers, especially younger generations who are used to interacting with voice-enabled devices. It’s expected to grow exponentially in the next few years as more consumers adopt smart speakers and voice-enabled devices.
A report by Juniper Research suggests voice commerce will reach $19.4 billion by 2023, up from $4.6 billion in 2020. Domino’s Pizza, for example, saw a 6% increase in sales after launching its voice assistant for ordering pizza.
Use cases of voice commerce:
– Ordering groceries or food delivery
– Booking travel or hotel reservations
– Reordering household items or subscriptions
– Comparing prices or deals
To take advantage of voice shopping, eCommerce businesses need to optimize their websites and products for voice search. This means using natural language, long-tail keywords, conversational tone, and structured data to make their content more relevant and accessible for voice assistants.
eCommerce businesses also need to integrate their platforms with voice assistant services, such as Amazon Alexa Skills or Google Actions, to enable voice shopping functionality.
Discover how you can optimize your eStore for voice commerce. Read Now
Social Commerce: The Power of Community and Influence
Social commerce integrates social media and eCommerce, where consumers can discover, interact with, and buy products directly from social platforms, such as Instagram, Facebook, TikTok, or Pinterest.
It’s one of the fastest-growing segments of eCommerce, as more consumers rely on social media for inspiration, information, and entertainment.
A report by eMarketer shows that, social commerce sales in the US will reach $36.6 billion by 2023, up from $26.8 billion in 2020.
Use cases of social commerce:
– Shopping from shoppable posts or stories
– Joining social shopping groups or clubs
– Creating or browsing wish lists or collections
– Sharing or reviewing products with others
Live-Streaming Commerce: The Rise of Online Entertainment Shopping
Live-streaming commerce combines live video streaming with eCommerce. It allows sellers to showcase their products in real-time to a large audience of viewers who can interact with them via chat or reaction buttons.
Live-streaming commerce also allows viewers to buy the featured products instantly with a few clicks.
Live-streaming commerce sales in China reached $171 billion in 2020 and are expected to reach $423 billion by 2022 (McKinsey).
Use cases of live-streaming commerce:
– Launching new products or collections
– Promoting seasonal sales or events
– Demonstrating product features or benefits
– Offering product tutorials or tips
So, what does this mean for your business?
By embracing AI and its many possibilities, you can stay ahead of the competition and create a seamless shopping experience for your customers.
What are your thoughts on the future of eCommerce? Let us know in the comments below! 😊
