Using AI to Win Customers on Your eCommerce Platforms

Using AI to Win Customers on Your eCommerce Platforms Video Transcription

In the last year, more consumers have tried online shopping than the previous decade. All bricks and mortar retailers are investing heavily in their ecommerce platforms to meet their customers' needs.

How to Increase eCommerce Profitability

In the grocery industry, we know that it's marginally profitable at best to deliver via ecommerce. But promoting and featuring the right items at the right price is still the best way to win customers. If you understand that customers buy solutions not items, you can leverage that fact to increase ecommerce profitability.

What are Halo Effects and Why Are They Important?

Customers buying ground beef for an Italian dinner will also buy pasta, tomato sauce, bread, cheese, whereas a case of water doesn't need anything else to complete its use case or solution. Halo Effects are important to consider. Halo Effects like associated sales, cannibalization, and pantry loading need to be thought about. Key Halo driving items that drive larger baskets and a current high transaction volume can be discounted heavily, while items that occur in the Halo can be featured at full price. Items selection alone can drive both increased sales at a higher gross margin. If you price efficiently on top of that, it will further magnify the Halo Effect. AI done right maximizes Halo Effects.