Four E-commerce Challenges That Can Be Addressed With Data + AI

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The global health crisis accelerated the adoption of omnichannel shopping and fulfillment. Consumers spent $861.12 billion online with US merchants in 2020, up an incredible 44% compared to the previous year, which marks the highest annual growth in U.S. e-commerce in at least two decades. To keep up pace with this shift and more effectively sell, businesses have substantially moved investments to online infrastructures, such as e-commerce platforms, inventory management, product recommendations and chatbots and delivery. On one hand, setting up e-commerce sites and/or optimizing online stores means increased sales and market penetration; on the other, these benefits are potentially outweighed by the increased costs as retailers essentially shift a part of their business to logistics and fulfillment. As businesses make the transition to online retailers, they will have to focus on these four key customer areas to ensure profitability: fraud, delivery theft, returns and customer service.

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