Online marketplaces are reportedly deploying artificial intelligence (AI) to provide visitors with a personal shopper-like experience.
E-bay, Etsy and thread up According to the Wall Street Journal (WSJ), these are among the online marketplaces currently leveraging AI technology to improve the shopping experience for both buyers and sellers. report Friday (May 3).
According to the report, they are leveraging AI to improve the shopper experience by finding the right products among millions of unique listings.
For example, Etsy recently launched features such as: gift modewhich uses AI to help shoppers make choices. perfect gift. The AI-powered feature suggests relevant products from the vast inventory on the market by providing several details about the person shopping, the report said. This not only saves shoppers time, but also allows them to discover products they didn't know existed.
Similarly, eBay introduced an AI-powered generation feature called “.buy the lookWe curate coordination based on user input.” shopping history. According to the report, eBay has over 2 billion live listings and aims to leverage AI technology to simplify the browsing experience for users.
ThredUp, a second-hand clothing retailer, is also implementing AI to improve its search capabilities. According to reports, 100,000 items are added every day, so finding a specific item can be difficult. ThredUp currently uses AI to tag hundreds of attributes and cluster them in a way that gives users an intuitive understanding of what they're looking for. This search enhancement has increased the number of searches on the platform.
While AI holds great promise for improving the online shopping experience, there are also challenges to overcome, the report said. Large-scale language models (LLMs) used in AI algorithms can take a relatively long time to generate a response, potentially testing the patience of online shoppers who expect quick results. . Additionally, the cost of implementing AI technology can be higher compared to traditional models.
In the short term, AI technology could be more beneficial to sellers, reducing friction and driving more listings and sales, according to the report.
For example, eBay'smagic list” feature uses generative AI (GenAI) to populate detailed product information, making it easier for sellers to list products quickly and accurately.
PYMNTS Intelligence finds that the rise of LLM has pushed GenAI technology into society's driver's seat. retail technology.
“77% of business leaders rank GenAI as the most impactful emerging technology.”What generative AI brings to retail”, PYMNTS Intelligence and AI-ID collaboration.
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