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The Retail Affair Gets Chatbots For Profitable Outcomes

The Retail Affair Gets Chatbots For Profitable Outcomes

Friday December 07, 2018,

3 min Read

Innovation is changing at lightning speed. In the period of digitalization, the significance of regular business capacities and devices, for example, telesales, technical support, and informative sites are reducing in numbers. Numerous retailers' survival is in question because of digitalization.

This period of digitalization has come up with the concept of chat commerce (conversational commerce) where bots associate with end clients to drive business utilizing sound and content. Bots have gotten the pace as a digitalized phase and it will keep on modifying the advanced retail market. If considering the chatbots they can be classified in two form:

  • Chatbots which are principle based, are based on some set of rules that performs limited and repetitive tasks e.g. voice response, tracking particular response etc.
  • The other kind of chatbot are Artificial Intelligence (AI) chatbots that are developed in accordance with user inputs. These chatbots performance better in every sense as they can conversate, store data and can attend multiple queries at a time. They are the branch of Natural Language Processing (NLP) and Machine Learning (ML). These kind of chatbots are challenging to build, but are effective with business operations and managing sales.

Why add chatbots?

Chatbots offer commercial and non-commercial benefits such as:

  • save time, labor and money for tasks which can be easily automated
  • help in manpower reduction, especially in customer-facing processes
  • enhance ROI by keeping the operating costs low
  • reduce the difference between “conversational commerce” and online shopping
  • enables an interactive and simple shopping experience

What chatbots do in the retail segment?

To enable interactive commerce, chatbots are used as virtual assistants or support agents. They provide:  

  • personalized assistance for enhancing customer service
  • product recommendations
  • order confirmation
  • updates on order and shipment inquiries.
  • help in managing social media pages for increasing customer engagement rates
  • an interactive product user manual
  • notifications by sharing/pushing updates and advertising new products
  • product location maps and assists in locating a product in the store

Get chatbots for your business

There are many brands who are in process or already have created their own chatbots to be implemented with their applications or on their websites, but this process consumes a lot of time and money. To get out of this hassle, there are many brands who are offering you ready-made chatbots services, which are:

- Botgento - Facebook Messenger Chatbot for Magento Website

- Slack

- Kit

- Kik

- Telegram

Chatbots are the new human subordinates

Chatbots can be used for various purposes for different industries across its operation. But for retail it becomes efficient in holding promises, like interacting with customers, retention of customers, cross-sell opportunities, increase engagement and sales. Chatbots offer a customized solution that helps customers in getting up to the mark answers, which leads to satisfaction and builds service loyalty.