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The Key To Successful Selling On Sites Like Amazon? It Might Just Be AI

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It's no longer a big deal for people to see some form of artificial intelligence in the products they buy. But AI doesn't just have to be within products. It can play a critical role in connecting you to products and saving you money, too. The company's products allow third-party sellers to automatically adjust prices, predict product trends, recommend sourcing, and demand planning options and optimize additional factors. That enables the sellers to better understand and direct consumer behavior.


3 Ways AI is Already Impacting eCommerce - Feedvisor

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Advances in artificial intelligence and deep learning have changed our lives. We are already using it even without realizing it: AI helps to power Google's search engine, Tesla's self-driving cars, Apple's voice assistant, and Amazon's shopping recommendations. The impact of artificial intelligence in retail and eCommerce is also growing. While eCommerce giants like Amazon, Walmart, and eBay have used these capabilities behind the scenes for years, eCommerce entrepreneurs can now also do the same. Algorithmic technology and AI can be incredibly helpful tools to grow sales and optimize various aspects of eCommerce operation, from pricing to demand planning.


3 ways AI is already impacting ecommerce

#artificialintelligence

Advances in artificial intelligence and deep learning have changed our lives. We are already using it even without realizing it: AI helps to power Google's search engine, Tesla's self-driving cars, Apple's voice assistant, and Amazon's shopping recommendations. The impact of artificial intelligence in retail and ecommerce is also growing. While ecommerce giants like Amazon, Walmart, and eBay have used these capabilities behind the scenes for years, ecommerce entrepreneurs can now also do the same. Algorithmic technology and AI can be incredibly helpful tools to grow sales and optimize various aspects of ecommerce operation, from pricing to demand planning.


Exclusive: Quad Analytix buys Israeli data startup Wizer

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Wiser maintains a pricing engine that automates changes to prices based on business strategies and competitors price tags (Photo credit: screenshot, Wiser.com) Geektime has learned today that US-based Quad Analytix has closed on a deal to buy Israeli-American AI and consumer data startup Wiser. While the exact details of the deal have not been released, the price is believed to be in the millions. Wiser works with retailers and brands to help them maximize their sales and profits using an automated system called a dynamic pricing engine. Their data intelligence products scan massive marketplaces like Amazon, looking to see how much their clients' competitors are charging for items, and adjusting prices just enough to give their customers an advantage.


How to Use Big Data and Artificial Intelligence for Demand-Based Pricing in Retail

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You can call yourself a guru of retail pricing if you can make the right pricing decisions for every one of your products, separately and combined, based on their demand elasticity at any given moment. Each of your pricing decisions has to help you reach all of your current business goals and ensure the best shopping experience at the same time. In other words: to find a balance between your profits and traffic. Let's take a step back to where everything begins – your business strategy. The company's strategy is supposed to be converted into its pricing strategy and subsequently into pricing tactics.