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Strong Reasons Why Every Retail Business Needs a Chatbot in 2021

24 November 2021

Enhance your business growth with e-commerce chatbots

A recent study by the UK-based Juniper Research states that chatbots will help businesses save more than $8 billion per year by 2022.

In today’s fast-paced business model, retail businesses look at new alternatives to enhance business operations and improve their ROI. The evolving customer requirements and the latest technology transitions drive business owners to rely heavily on technology solutions to scale up their businesses.

Customer-facing industries such as retail are rapidly switching to chatbots to reduce operational costs and measurably enhance customer satisfaction. The retail sector has witnessed a tremendous technology change from cloud adoption to AI chatbots in recent years—thanks to digital transformation solutions!

Five reasons why every retail business needs a chatbot in 2021

Omnichannel experience

One of the significant factors that play a massive role in today’s e-commerce market is the omnichannel experience— offering a unified, tightly branded experience for customers across all channels. A simple AI chatbot could be the voice of your business across your online store, social media platforms, and other channels. The benefits of omnichannel experience are:

  • Cohesive message
  • Personalized customer experience
  • Increased brand reach and sales
  • Improved data collection

Product guidance

Product guidance and product recommendation are the two significant features of e-commerce chatbots. Product guidance helps customers save a lot of their scrolling time and ensures quick checkouts. Instead of spending long hours looking at the product catalogs, the chatbots can initiate quick conversations with customers to know their requirements and redirect them to the specific product page within no time. Yes, the AI chatbots help customers enjoy a hassle-free shopping experience.

A recent Drift report states that 27% of the clients (adults) in the US purchase their essential goods via chatbots.

Cost Benefits

Besides improving sales, e-commerce chatbots help businesses save time and operational costs. By automating the recurrent tasks, reducing the response and hold times, and simplifying the purchase journey, e-commerce chatbots help customers complete their transactions quickly. The chatbots will also help e-commerce businesses minimize customer acquisition costs and customer support costs.

Platform integrations

The AI chatbots allow seamless third-party integration with CRM and other business management software to align with the business operating model quickly. Integrations with third-party apps and internal systems facilitate constant interaction with customers across multiple platforms. These integrations enable e-commerce chatbots to efficiently connect with other systems and respond to customer queries with ease.

Improved business branding

Bots well-implemented ensure better brand consistency. From offering personalized services to replacing customer support teams, chatbots have completely redefined e-commerce businesses. Enterprises today consider e-commerce chatbots a cost-effective and efficient marketing tool that can humanize brands. A chatbot’s integration with social media will help companies reach a wider audience and offer superior customer engagement.

Related Read: Five reasons why your business needs chatbots

Improve your customer journey with e-commerce chatbots

Smart and intelligent e-commerce chatbots are redefining the retail industry today, especially when it relates to customer questions or post-purchase resolutions. Customers are no longer interested in waiting for hours in the service queues. Faster response times and first-call resolutions are driving retailers to leverage the latest AI chatbots. Currently, there is a big push for e-commerce businesses to replace their customer support teams with conversational AI chatbots to cut their service costs and spend more on enhancing business operations.

PreludeSys and AI innovation

To be a pure-play e-Commerce business in the competitive marketplace, retailers need to deliver a unique, positive experience with a communication media that feels personalized. When customers reach out with a query or issue related to a product or service, proper care and guidance are a must to ensure they are satisfied at the end of the conversation. Deploying AI chatbots is a great way to boost the customer experience and keep them engaged, offering a faster turnaround time and accurate response.

Want to create compelling conversations with your customers? We help build customer-centric brands with the right mix of technical and functional expertise: design intelligent, enterprise-grade AI chatbots for businesses across retail, healthcare, and banking industries. Talk to our experts now!

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