E-commerce has become an impetus for the economic growth of any developing or developed nation. In the coronavirus outbreak, it gained even more attention. Whether it is a startup or an esteemed company, everyone is going online for offering continued services and exceptional commerce experiences to the customers. Because of the pandemic, consumer behavior has also been changed after the work-from-home orders across the globe. In fact, e-commerce has become a compulsory option for companies to shift to the “new normal”. For developing an e-commerce store Magento Commerce is among the best platforms to set up an instant online store and an increase in traffic for those who already exist on this platform.
In an e-commerce store, there are many scenarios when the products are looking for similar products that they are checking at that time. For e.g., if someone is buying a smartphone, then a few suggestions of a similar type of smartphones will help him to make an easier purchase. One such functionality in Magento Commerce is Product Recommendations, powered through Artificial intelligence and Machine learning technology. It is now available for Magento Commerce globally. The merchants can now deploy intelligent product recommendations on their stores so the customers can discover relevant products on their shopping journey. It will increase customer engagement, conversion rates, and overall revenue.
In the past, using AI as a resource was quite cost restricting for many businesses. The companies at that time required data scientists and some extra set of technologies which increase the cost. But with Magento Commerce, the merchants are now capable of delivering astonishing user experience to the customers and seamless automation for product recommendations. It will save their time and allow businesses to focus on their core instead of the technicalities.
Benefits of AI-Powered Product Recommendations in Magento Commerce:
The main benefits of using AI-powered product recommendations in your e-commerce store are:
1. Catalog synchronization and Auto-distributed page tagging:
While you may not be aware of these terms, using AI-powered product recommendations, the storefronts are just right away with no development or coding requirements. The merchants have to put minimal effort into deploying anything. For unloading processing from the hosting (Magento cloud), the catalog of products will always be in sync automatically with a dedicated cloud service.
2. AI-Driven Retail Experience:
Using multiple machine learning algorithms, the AI will automatically determine the behaviour of the buyers. Thus, the merchants don’t need to put any manual effort into showing similar products on the product detail page for every buyer.
3. 9 Recommendation Types:
The merchants will get a choice of 9 different types of product recommendations on Magento Commerce. These recommendations type include:
- Most Purchased
- Recommended for you
4. Embedded Merchant Experience:
It is possible for the Magento Commerce merchants to create, manage, and deploy product recommendations directly from the Magento admin. It will improve the revenue and overall sales while staying ahead in views, clicks, impressions, revenue, etc.
5. Seamless User Flow:
As a merchant, you can easily do the formation of product recommendations using your Magento Admin Panel. After activating this feature, within a few minutes, you can recommend the products to the customers.
How does Product Recommendation Work?
When Adobe Sensei got advantaged, AI & ML power was synthesized for analyzing user behaviour. It can also predict the most significant products for the customer. They can create and place several widgets across their online store to show:
- Most viewed products in the last week
- Most bought products
- Most added to cart
- Browsing history recommendations
- Customers who viewed this also viewed that
- Related products