The Role of AI and Machine Learning in eCommerce – Future of Furniture Shopping

Online furniture marketplaces have become household names. Also, AI technology is no longer unknown. We know what power lies in artificial intelligence. From automating complex tasks to delivering personalized experiences, AI brings impactful and growth-driven results for businesses. But can AI technology be integrated into the furniture eCommerce solution? Definitely, it can be. Famous furniture stores like IKEA and Wayfair are leveraging AI successfully. 

The virtual visualization tool of IKEA and visual search functionality by Wayfair prove that AI can become your powerful tool for attracting customers if leveraged well. Also, it is often said that AI is the future. And this greatly resembles for the furniture eCommerce. Furniture eCommerce becomes one such industry that will ultimately become AI-driven in the near future.

Today, this blog will let you explore the role of AI and ML in eCommerce and how it becomes the future of furniture shopping. Moreover, you will learn about one of the leading eCommerce innovation firms using AI to craft successful furniture eCommerce solutions.

How AI/ML is Shaping the Future of Furniture eCommerce

Making Your Business Future-Ready with Predictive Analysis

There is a famous quote saying, “We determine our destiny by the actions we take today.” It holds for any business, including furniture eCommerce. With the help of AI technology, you cannot only improve your present business operations but also take hold of your future circumstances. AI governs predictive analytics tools that are used to perform detailed analyses of industry-specific data and customer behavior. 

The predictive analysis will allow you to know future market trends and make impactful strategies for future growth while still in the present. For instance, AI-powered predictive analytics can help you see what furniture styles will be in demand in a few months by analyzing customer reviews and searches. Based on the analysis, you can plan your future marketing strategies with those product offerings and become ready for future growth and success.

Optimizing Furniture Pricing Based on Market Analytics

The furniture market is growing competitive at a fast pace. And that’s why businesses need to implement robust and unique strategies that could help them lead the competitive race. One of the significant factors that can help you thrive in a competitive landscape is the pricing of your product. In today’s competitive landscape, you need to switch to different prices dynamically according to market evolutions. However, manual evaluation of the market will be time-consuming and error-prone. But with the help of AI, you can automate the entire process and perform it in a fraction of time. 

The AI-powered data analytics tools allow you to analyze large chunks of data related to current market scenarios. As a result of this analysis, you can change the furniture pricing with ease based on the market situation. For instance, during the holiday season, AI will analyze the market and increase the pricing of products that are in high demand. Meanwhile, it will reduce the prices of the least sold furniture items to boost sales. In this way, AI can help you dynamically optimize the pricing of furniture items based on the ongoing market scenarios.

Magnifying Shopping Experiences with Personalized Recommendations

As per a recent survey, the average transaction success rate for any eCommerce solution increases by 87.9% by involving AI-powered recommendation engines. Moreover, similar research says that the customers’ search time for their desired products is reduced by a maximum of 1.42 milliseconds. Further, another survey by WiserNotify states that 78% of people are more likely to purchase from your eCommerce platform again due to personalized experiences. So, you might have now understood how powerful personalized recommendations are. 

That’s the reason why tailored product suggestions play a prominent role in imparting success to the furniture eStore. AI/ML technologies will analyze a vast set of data in terms of customers’ search history and past purchases. This detailed analysis will allow you to recommend products specifically tailored to customers.

TOV Furniture, the leading furniture online marketplace in the US, needed help to deliver personalized experiences to their customers and boost conversion rates. Our AI-based furniture eCommerce company helped them by implementing an AI-powered recommendation feature that allowed them to recommend furniture products the customers would like to add along with their ongoing purchases. This helped TOV Furniture to enhance customer experiences and boost the sales cycle effectively.

Ensuring Seamless Inventory Management with Automation

With furniture products having numerous variations, it becomes challenging for online marketplaces to track which products are in stock and which are not. Due to this, the the furniture eStores often face cart abandonment issues due to out-of-stock situations. But AI simplifies this through automation. 

AI helps furniture eStores track stock levels in real-time and send timely updates to retailers to inform them when the product inventory needs to be restocked. 

Elevating Customer Support Through Chatbots

Every furniture product has several variations based on size, color, and type. And the more options available, the more likely customers will need clarification. Customers will have a lot of doubts arising in their minds so that they will seek guidance from the furniture eStore itself. Resolving each query manually will consume a lot of time. Long response times will frustrate the customers and ultimately make them leave the eStore. To prevent such situations, having AI-powered chatbots and virtual assistants in your eCommerce store can be beneficial. 

The chatbots use Natural Language Processing (NLP), which allows them to understand the queries with accuracy and guide customers in resolving queries related to product information and order tracking. Quick query resolutions help furniture eStores improve customer experiences and reduce the chances of cart abandonment. 

TOV Furniture wanted to deliver smooth experiences to their customers with instant query resolution. To help out, our AI-based furniture eCommerce agency built an AI-powered chatbot that helped the customers of TOV deliver prompt answers to their customers’ product-related queries. 

Simplifying Decision-Making With Virtual Try-Ons

When it comes to online sales, the furniture eCommerce market always has low sales compared to the clothing and accessories industry. The sole reason behind this is the inability to visualize a particular furniture product in the customer’s home. Furniture products indirectly elevate the aesthetics of your space. That’s why it becomes necessary for customers to visualize the product in their space. 

AI helps furniture eCommerce businesses overcome this challenge by offering virtual try-ons. The AI-powered augmented reality allows customers to place 3D models of furniture products in their spaces virtually. This allows customers to decide which furniture product will align with the style of their space and which not. Also, it reduces the return rates for furniture businesses. 

Our AI-based eCommerce agency helped Walcraft Cabinetry, the premium online marketplace for pre-assembled and ready-to-assemble kitchen cabinets, enhance customers’ buying decisions by offering a virtual design tool. This kitchen design tool allowed the customers of Walcraft Cabinetry to mix and match various cabinets of different sizes, colors, and design with their kitchen’s style. This allowed the customers of Walcraft Cabinetry to make effective choices without any need of in-person visit.

Securing Online Transactions Through Secure Detection Systems

Furniture products undoubtedly involve hefty and online payment processes.  And today online frauds have become the most common. That’s why it is obvious that customers will be nervous while making an online purchase. 

Furniture eStores can eliminate such doubts from arising in the customers’ minds by embedding AI-powered security protocols like user authentication and facial recognition systems. Besides, AI-driven security tools also sense unusual transaction activity through their automated detection systems. So, AI not only helps in enhancing customer experiences but it also helps in securing online payments for furniture eStores.

Final Say

In today’s digital era, AI technology has conquered every aspect of furniture eCommerce market. With its amazing features and benefits, AI is not only transforming the present scenario of furniture eCommerce but also the future. AI can simplify workflows and boost sales through the innovations it can bring to furniture eCommerce.

Technocrats Horizons is one of the top AI companies for retail technology. Our AI-based furniture eCommerce services are a blend of 13+ years of expertise and innovation. Using this combination, our machine learning company for online retail offers a smooth way for online furniture businesses to climb the success ladder. From building recommendation engines to automated inventory management to visualization tools to chatbots, our AI-based eCommerce services can boost customer engagement and sales in a precise way. 

There are definitely innumerable AI-driven retail software providers. But What makes us unique from other machine learning development companies for eCommerce is our agile development approach. Our AI-based eCommerce company takes time to understand your needs profoundly and then defines solutions that perfectly fit your needs. That’s why we have helped various eCommerce businesses to have a 25% decline in bounce rates. With this, we prove to be the best AI-driven eCommerce service providers. 

Book a free consultation to partner with the top-notch AI solutions provider for eCommerce businesses in India and USA to embark on a successful journey.