augmented reality Archives

Navigating the Future of Ecommerce with Jisse Reitsma

August 21, 2024July 24, 2024 Brent W. Peterson

Welcome to another engaging episode of “Talk Commerce,” where we delve deep into the heart of ecommerce, technology, and entrepreneurship. In this special edition, we had the pleasure of hosting Jisse Reitsma, a prominent figure from the Netherlands and the visionary behind Yireo. Jisse brings a wealth of knowledge and a refreshing perspective on the evolving ecommerce landscape. Today, we will unwrap the essential insights from our enriching discussion centered around the latest trends in ecommerce for 2024.

The Essence of Ecommerce Trends in 2024
Our conversation with Jisse began by diving into the crucial ecommerce trends that are shaping the industry in 2024. We explored how building long-term customer relationships has become paramount for businesses aiming for sustainable success. The focus has dramatically shifted from merely acquiring customers to nurturing lasting relationships, emphasizing loyalty and customer satisfaction.

Exploring Technological Advancements in Ecommerce
A significant part of our discussion revolved around how technologies like Augmented Reality (AR) and Virtual Reality (VR) are transforming online shopping experiences. Jisse highlighted the role of these immersive technologies in making online shopping more interactive and engaging. Moreover, the rise of voice search and the importance of personalizing the shopping experience were pivotal points that underscored the necessity for businesses to leverage data insights effectively.

The Impact of AI on Ecommerce
Jisse extensively shared his views on how Artificial Intelligence (AI) is revolutionizing the ecommerce sector. From understanding customer behaviors to optimizing conversions, AI stands out as a game-changer. He offered insightful anecdotes on how AI-driven tools like chatbots enhance customer service by providing instant support, thus significantly improving the customer experience.

Listener Questions and Insights
We had the opportunity to incorporate a few listener questions in our discussion. One notable query was about the integration of flexible payment options and how they cater to diverse customer needs. Jisse explained that offering various payment methods not only enhances customer satisfaction but also reduces cart abandonment rates. Another interesting question was about the growing trend of social commerce. Jisse elaborated on how consumers are increasingly making purchases directly through social media platforms, making it a critical aspect of modern ecommerce strategies.

Ecommerce Trends Revolutionizing Business
In closing, Jisse left us with a thought-provoking statement: “The future of ecommerce is not just about technology but about how we utilize it to create meaningful connections and sustainable practices in business.” This encapsulates the core message of our discussion – the harmonious blend of technology, customer engagement, and sustainability is indeed the key to thriving in the dynamic world of ecommerce.

See More Episodes about the future of E-Commerce

Revolutionizing E-commerce: The Power of AI-Driven Product Information Management

July 16, 2024 Brent W. Peterson

In this enlightening episode of Talk Commerce, I had the pleasure of sitting down with Lori Schafer, CEO of Digital Wave Technology. Our conversation delved deep into the transformative world of AI-driven product information management and its profound impact on e-commerce. Lori’s expertise shed light on how cutting-edge technology is reshaping the way brands and retailers bring products to market.

The Essence of AI-Driven Product Information Management

Lori introduced us to the concept of “all things product,” emphasizing how Digital Wave Technology combines master data about products with AI and generative AI content. She highlighted the importance of full automation in e-commerce, explaining how their AI-native platform on an analytical database can process high volumes of data rapidly. This approach enables businesses to bring products to market quickly and incorporate consumer data seamlessly into the e-commerce process.

Exploring the Automation of Mundane Tasks

One of the key insights Lori shared was the role of AI in automating mundane tasks, allowing e-commerce teams to focus on more creative and strategic aspects of their work. She provided several examples of how AI is being practically applied in the industry:

Generating product content in brand voice
Automatic attribution of product features
SEO optimization through AI-suggested attributes
Summarizing and incorporating customer reviews into product descriptions
Creating advertising content, including images and taglines

The Impact of AI-Driven Product Information Management on E-commerce

Lori emphasized how this technology is changing the e-commerce landscape. By automating time-consuming tasks, businesses can significantly improve their efficiency and speed to market. Moreover, the integration of consumer data and AI-driven insights allows for more personalized shopping experiences and targeted marketing efforts. This shift is not just about efficiency; it’s about creating a more engaging and relevant shopping experience for consumers.

Listener Questions and Insights

Q: How important is the analytical part of AI compared to generative AI in e-commerce?

A: Lori stressed the importance of combining both generative and numerical AI for optimal results. While generative AI handles text and voice, analytical AI is crucial for tasks like price optimization, inventory management, and demand forecasting. The integration of these two aspects is essential for providing the best answers and experiences for individual consumers.

Q: What new technologies, besides AI, will impact how shoppers behave?

A: Lori highlighted several emerging technologies:

Blockchain for product traceability and sustainability tracking
Advanced voice technology for website interactions
Augmented and virtual reality for try-on experiences and product visualization

From Bits to Benefits: Harnessing AI for E-commerce Excellence

As we concluded our discussion, it became clear that AI-driven product information management is not just a technological advancement; it’s a paradigm shift in how businesses approach e-commerce. By leveraging these tools, companies can create more efficient operations, deliver more personalized experiences, and ultimately drive growth in an increasingly competitive digital marketplace.

WordPress Tags: AI in e-commerce, product information management, digital retail, automation, personalization, blockchain, voice technology, augmented reality, virtual reality

Transforming Retail through Product Experience with Kristin Naragon

February 12, 2024January 30, 2024 Brent W. Peterson

The future of retail lies in delivering exceptional product experiences. That’s the key message from digital commerce expert Kristin Naragon in this insightful episode of Talk Commerce. As Chief Strategy and Marketing Officer at Akeneo, Naragon has seen firsthand how centralizing product data and incorporating AI is revolutionizing online shopping.

Key Takeaways:

Implementing a product information management (PIM) solution led to a 36% sales increase for Rural King and 15 minute time-to-market for Staples Canada.
61% of retailers are adopting augmented reality, with some seeing conversion rates double for AR-enabled products.
AI can be transformative but needs human validation – incorrect product details could be dangerous.
A comprehensive product experience strategy requires buy-in across the c-suite, not just marketing.

About Kristin Naragon

With nearly 20 years in tech marketing, including senior roles at Akeneo and Adobe, Kristin brings a wealth of go-to-market strategy experience. As a customer-obsessed, outcomes-focused leader, she’s passionate about developing partnerships and solutions that drive business success. At Akeneo, that means delivering product experience innovation that transforms retail.

Exploring Centralized Data and AI for Next-Gen Shopping

Kristin traces the genesis of Akeneo back to a frustrating shopping experience – her husband struggling to find compatible AV equipment across various retailer sites. The problem? Inconsistent and conflicting product information stemming from decentralized data. As Kristin explains, “You can control the product information. Having that core record, categorized, cataloged, complete, enriched…that’s what Akeneo uniquely solves.”

That product record lies at the heart of Akeneo’s product experience cloud. By centralizing all product data into a PIM, retailers can distribute accurate, up-to-date listings to every touchpoint – web, mobile, print, and more. The result, as evidenced by Rural King and Staples Canada, is operational efficiency, reduced time to market, and revenue growth. “It touches every part of the business,” Naragon states.

And that was just the beginning. The launch of Akeneo’s in-platform app store unlocked innovation opportunities through 3rd party AI integrations. As Kristin explains, “We had about a dozen applications developed leveraging AI to help different parts of the product experience management process.” From onboarding data to generating descriptions and translating content, AI is transforming PIM capabilities.

Ultimately, Akeneo’s acquisition of AI startup Unifi was fueled by demand for enhanced data enrichment. But Kristin cautions AI requires oversight. “Bad product information generated from these AI models can really serve the business in a bad way,” she warns, sharing examples of incorrect phone storage stats and dangerously mixed chemical data. The solution lies in Akeneo’s workflows – “introducing a checking system with employees, humans.”

The Future of Retail Will Be Experiential

As the podcast wraps up, Kristin points to AI, AR, and the blockchain as technologies that will converge to enhance shopping dramatically. But the biggest shift must start internally. “Making product experience strategy a C-suite initiative – that’s something we’re going to be focused on,” she predicts. Because as omnichannel retail blurs lines, the brands offering the most contextual, consistent and helpful product experiences will win consumer loyalty.

In closing, Kristin perfectly captures the ethos of our digital era: “It seems so obvious, I guess. And sometimes the things that seem so obvious are often overlooked.”

Memorable Quotes

“You can control the product information. Having that core record, categorized, cataloged, complete, enriched…that’s what Akeneo uniquely solves.”

Here Kristin eloquently sums up the universal product data dilemma facing retailers – and how a properly structured PIM solves it through centralization.

“Bad product information generated from these AI models can really serve the business in a bad way.”

A stark reminder that while AI delivers efficiency, its capability to propagate nonsense means implementing guardrails is crucial.

“Making product experience strategy a C-suite initiative – that’s something we’re going to be focused on.”

This prediction underscores Kristin’s belief that optimizing product content across channels needs to become a boardroom priority to drive sales.

Tune In and Join the Product Experience Revolution

If mindset shifts, emerging technologies and real-world use cases have you rethinking your ecommerce content strategy, be sure to check out the full episode. Subscribe to Talk Commerce so you don’t miss future conversations at the intersection of commerce and digital disruption.

At its core, this podcast highlights that product experiences represent the new competitive battleground. As consumers increasingly demand personalized, contextual, and helpful shopping journeys, retailers must transform product content from a cost center into a revenue driver. The brands that invest in product experience now will shape the future of retail.