Of course, the battle of AI isn't over yet – new advances and breakthroughs are being made every week. This week, companies like Meta and eBay are continuing to make strides in the field of machine learning. Here are the top stories of the week:
Amazon launched an AI tool to help sellers write product listings
eBay has now made its generative AI listing tool available to all marketplace sellers through its app.
E-commerce challenges deter customers and pose a threat to Black Friday sales.
Heatmaps For E-commerce Sellers: 5 Steps To Improve User Experience
The Amazon Corner
Rolling out the AI Parade: Amazon Rolls Out Generative AI Tool For Product Listings
Photo Credit: Johnny Milano | Bloomberg | Getty Images
Amazon and AI team up... Amazon unveiled an AI tool enabling sellers to generate copy for product pages which was announced this week at Amazon Accelerate, a conference designed for third-party sellers. Many sellers have been relying on OpenAI's ChatGPT to compose titles and descriptions to help them stand out from their competitors. This new feature will help generate copy for both new and existing listings using keywords and a brief description of the product(s).
Amazon is using AI tools to help merchants stand out and increase sales in its third-party marketplace, which has become a major source of profit. CEO Andy Jassy has previously stated that the company plans to incorporate more AI applications in other areas of the business, such as an AI chatbot and generative AI.
Selling Smarter with AI: eBay Empowers Marketplace Sellers with Cutting-Edge AI Listing Tool!
AI is not science fiction anymore... According to Xiaodi Zhang, the Vice President of Seller Experience at eBay, eBay Inc. recognized the potential of generative AI to address two key challenges in its marketplace of over one billion SKUs. These challenges include helping shoppers find items more quickly and easily, as well as assisting sellers in listing items faster and with fewer obstacles.
eBay is currently testing advanced AI tools for marketplace sellers, including the ability to remove background images and create product descriptions based on images. eBay refers to this tool as its "magical listing tool," and it was made available to all sellers on its marketplaces for listing items in their app in August.
E-commerce Troubles: Driving Customers Away and Posing a Black Friday Threat
Bounce, bounce, bounce... Numerous online shoppers are abandoning their purchases due to basic search problems. According to a survey by customer experience platform Nosto, a staggering 77% of respondents immediately turn to the search bar when they visit an e-commerce site.
However, a striking 84% confess to leaving a website because of search-related issues, such as irrelevant search results, an overwhelming or insufficient number of products displayed, or being directed to out-of-stock items. These findings highlight the crucial importance of addressing and resolving search issues to enhance the overall online shopping experience.
According to these findings and projected e-commerce sales revenue and average order values, Nosto predicts that U.S. online retailers could miss out on a staggering $13.8 billion in online sales during Black Friday and Cyber Monday due to their failure to address fundamental search errors.
Heatmaps for E-Commerce Sellers: 5 Steps to Improve User Experience
All hail customer experience! In the fast-paced realm of e-commerce, comprehending your customer's online behavior is vital for achieving success. Heatmap tracking tools provide invaluable insights that illuminate the user journey and pinpoint areas where improvements can be made.
Learn how you can effectively utilize UX heatmaps to create a seamless and user-friendly shopping experience from the intricacies of heatmap tracking, establishing clear connections between customer behavior patterns and the performance of your online store.
Try this.Offer upsells and cross-sells to customers when making a purchase. You can do this by recommending similar or complementary products that are related to the item that they have already purchased. This will help increase sales and improve customer satisfaction.
FUN FACT
Cyber Monday in 2022 saw online shoppers contribute a staggering $11.3 billion to the retail economy.
LISTEN UP
Whether you’re just starting to think about selling your business or actively searching for a buyer, understanding the exit process is an essential part of maximizing your value. On this 101st episode of The E-Comm Show, Andrew interviews Yoni Kozminski of South Col to learn more about the exit process, how to get the most out of your sale, and what buyers are looking for.
Yoni will also discuss what you need to do before embarking on your exit journey and how to make sure you’re ready to sell. Tune in for the insider's guide to selling your business. Don't miss this episode if you're looking to sell your e-commerce business!
Did someone really cool forward this email to you? Sign up here.
WAIT! If you didn't love this week's Click and Conversion, we're sorry! :( We hope that you'll give us another chance and see what next week brings. But, if you feel you must unsubscribe, you can manage your preferences below to make sure you still get all our other great content!
BlueTuskr, 844 East Street Road, #330, Westtown, Pennsylvania 19395, United States, (610) 753-5722
-3.gif?upscale=true&width=300&upscale=true&name=giphy%20(1)-3.gif)
