Five inspiring AI-powered chatbots in Retail and eCommerce

Introduction

In the sixth episode of the "Learn with Gupshup" webinar, Priya, a product marketer at Gupshup, and Sanjoy Roy, leader of the retail vertical at Gupshup, shared insights on impactful conversational retail journeys. They discussed how these journeys leverage AI-powered chatbots to boost conversions, increase revenue per customer, and establish brands as leading players in their industries.

Introduction to Conversational Retail

The concept of conversational retail refers to the interactions between customers and businesses through conversational interfaces like chatbots and voice assistants. With retail conversations growing at a rate of 50% annually and a striking 83% of consumers open to using chatbots for recommendations, the significance of conversational journeys in retail is undeniable. By the end of this year, conversational interactions in eCommerce are expected to reach 2 billion, marking a substantial increase from previous years.

Key Benefits of Conversational Journeys

1. Increased Cost Savings: Retailers could save nearly $ 11 billion in 2023 by utilizing conversational interfaces, allowing these funds to be reinvested in areas like product development and marketing.

2. Accessibility of Messaging Apps: With over 5.48 billion unique mobile users worldwide and a significant user base on platforms like WhatsApp (2 billion) and Instagram (1.38 billion), conversational retail is gaining traction as brands seek to connect with consumers directly.

3. Streamlining the Buying Process: Conversational interfaces can enhance every aspect of the purchasing journey—from pre-purchase recommendations to post-purchase support.

Five Inspiring Conversational Journeys

1. Abandoned Cart Recovery

Chatbots can help recover abandoned carts by sending timely reminders via preferred channels (e.g., WhatsApp). With strategic nudges and customized journeys, brands can achieve impressive cart recovery rates, potentially improving conversions by double digits.

2. Size Finder for Fashion Brands

A chatbot specifically designed to help customers find the right size alleviates confusion around sizing charts and minimizes returns. This journey collects body metrics, providing accurate size recommendations, which can lead to reduced return rates and better customer satisfaction.

3. Product Catalog on WhatsApp

By showcasing an entire product catalog on WhatsApp, brands can create a seamless shopping experience without redirecting customers to external websites. This keeps customers engaged on the platform they prefer, leading to higher conversion rates.

4. Google Business Messenger Integration

Brands can now leverage Google Business Messenger to engage users directly on search results pages. Customers can browse product catalogs or receive store location assistance without leaving the Google environment.

5. ChatGPT Integration for FAQs

Utilizing AI models like ChatGPT, businesses can quickly create sophisticated FAQ chatbots that answer customer queries. This drastically shortens the time to deploy effective customer support solutions and allows for personalized and dynamic responses.

Conclusion

With the staggering growth of chatbots in retail and eCommerce, businesses must adapt to remain competitive. By employing conversational journeys within their customer service frameworks, companies can enhance user experience, streamline processes, and drive revenue effectively.

Keywords

• Conversational retail
• Chatbots
• Customer engagement
• AI-powered solutions
• Abandoned cart recovery
• Size finder
• WhatsApp integration
• Google Business Messenger
• ChatGPT FAQs

FAQ

1. What are conversational retail journeys?
Conversational retail journeys are interactions between customers and brands facilitated by conversational interfaces such as chatbots and voice assistants.

2. How can chatbots help recover abandoned carts?
Chatbots can send timely reminders and offer personalized recommendations, enhancing recovery rates for abandoned carts.

3. What benefits do size finder chatbots offer in the fashion industry?
Size finder chatbots assist customers in choosing the right sizes based on body metrics, reducing return rates and improving customer satisfaction.

4. Can businesses integrate product catalogs on messaging platforms?
Yes, brands can showcase their entire product catalog directly on messaging platforms like WhatsApp, providing a seamless shopping experience.

5. How can ChatGPT improve customer support?
ChatGPT can be used to create FAQ chatbots that generate dynamic responses based on the data collected, facilitating quicker and more accurate customer support.