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Generative AI in Retail: Reshaping the Shopping to Boost Sales and ROI
Did you know that according to the recent research on AI in retail… 6 out of 10 clients firmly believe ...
Elevated Search Functionality
91% of consumers favor brands that offer personalized experiences and relevant recommendations.
By utilizing AI algorithms that learn from customer behaviors, preferences, and past purchases, you can offer highly personalized search results. This not only improves the user experience but also leads to higher conversion rates.
– Reduced search time for customers
– Increased user satisfaction
– Sales growth
Fraud Detection and Prevention
80% of retail businesses have a spike in fraud attempts.
Machine learning models analyze patterns in purchase history and customer behavior to identify anomalies and fraudulent activities, thereby protecting both the business and its customers from potential financial losses.
– Fewer instances of fraudulent transactions
– Strong brand reputation
– Less number of chargebacks
– Saved budgets
Optimized Advertising Spend
252% increase in return on ad spend may be reached with AI-powered optimization.
By analyzing customer data and online behaviors, AI can effectively exclude less likely buyers or retarget them through more cost-effective channels, optimizing the marketing budget for maximum ROI.
– Higher ROI on advertising spend
– Reduced unnecessary ad expenditure
– Enhanced overall marketing efficiency
Virtual Assistants and Chatbots
85% average open rate is achieved by eCommerce companies using chatbots for business communication.
These AI tools provide instant, personalized guidance for customers through their shopping journey, answering queries, and even helping in decision-making. As a result, overall customer experience and loyalty rise significantly.
– Round-the-clock customer service
– Reduced workload on customer service teams
– Increased conversion rates
Streamlined Supply Chain & Inventory Management
79% of companies with efficient supply chains report achieving higher revenue growth.
From predicting needs to managing warehouse logistics, AI-driven systems can boost operational efficiency. This includes real-time monitoring of stock levels, automated reordering processes, and predictive analytics for demand forecasting.
– Reduced operational costs through automation
– Better inventory accuracy
– Prevented overstocking or stockouts
– Faster order fulfillment
Get a Consultation
Discover how custom AI solutions can elevate your eCommerce business and tackle real-world retail challenges!
BloomsyBox was looking to provide a gift-giving experience like never before. The brand wanted to launch an effective Mother’s Day campaign that focussed on building even stronger relationships with their customers. Our team developed a personalized eCommerce chatbot using Generative AI to drive user engagement through a quiz. As a result, 60% of users who engaged with the bot completed the quiz, while 38% chose Gen AI to generate a greeting card for them.
At Master of Code Global, we developed a routing chatbot for the global luxury retail jewelry brand. They struggled to manage the workload of support teams located in diverse time zones and responsible for different markets — UK, USA and Canada. 4,600+ conversations with USA buyers took place during the first month after implementation.
MOCG developers created iOS and Android apps for the world’s largest online retailer of bags and accessories. The app features cool visual product search algorithms to match products by pictures of similar items taken by customers elsewhere (on the street, online etc.) The app also serves as a mobile interface to eBags inventory shopping.
Our client aimed to drive engagement on their Facebook page and increase response rates to consumers. Our team created and iterated on a chatbot for their social media. Starting with a fairly simple chatbot, our client then requested an expansion for additional functionalities. As a result, the company drove consumer engagement with this solution and achieved a 100% response rate with their customers.
“Their experience really helped with our engagement. We now know how to support a channel like this. Master of Code Global has a lot of experience and skill in chatbot design. They provided their partners with the necessary tools to create a high-quality chatbot. They were transparent and communicative as the project needed to be extended.”
“Master of Code not only provides extremely helpful chatbot features but also goes above and beyond to improve the user experience. Their services have had a significantly positive impact on the business, and their team continues to be great to work with overall. The chatbot increased our online bookings by 50%.”
“Our experience with Master of Code has been fantastic so far. Feedback from customers has been great, and our functionality is good. Regarding their quality of work and code, it’s better than anything we’ve seen before. They even gave us UI/UX best practices.”
“Master Of Code worked on a tight turn-around, was extremely helpful and professional in developing all components of the project up to the brand's high standards.”
”In terms of tracking success, Master of Code has been with us from the start, so I can attribute everything to them or nothing to them. They implemented my vision. They helped us figure out the best technical solution and proposed ideas on best practices.”
“They managed the vast majority of the project while being clear, straightforward, and transparent with our team. The final product succeeded in encouraging consumer engagement, achieving a 100% customer response rate after its launch. The team was proactive in communicating with the partner about concerns and problems as they arose. They were clear and straightforward with their updates.”
of ecommerce buyers chat to buy primarily via social and messaging platforms
of customers require some sort of assistance to complete an online purchase
conversational commerce shoppers message with brands for personalized advice
Our team brings a high level of expertise in conversational solutions, product software development, and custom development to ensure your project’s success. We offer expertise in crafting tailored solutions to meet your specific needs, backed by a product mindset that goes beyond mere outstaffing to manage your project actively.
Partner with us for a proven track record, strong references, and expertise in different channels and verticals, we provide tailored solutions that meet your specific requirements effectively. With references and reputations that speak for themselves, we leverage our extensive experience effectively to validate and resolve challenges that address your unique needs.
Experience seamless project execution with our excellent project management skills and comprehensive technical documentation support, ensuring transparency and efficiency throughout. Our team adheres to ISO 27001 compliance standards, providing a secure environment for your project.
Minimize disruptions to your business operations with our swift bug fixes and fast project onboarding process, ensuring a smooth and efficient project journey. Experience fast penetration into your project with minimal turnover, thanks to our agile approach and commitment to quick bug resolution.
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Run the numbers with our Chatbot ROI Calculator and get estimated results of the return you could get from implementing conversational Al across your business