Recent reports reveal that major online marketplaces like eBay, Etsy, and ThredUp are harnessing the power of artificial intelligence (AI) to offer shoppers a personalized, ‘personal shopper’ experience right from their screens.
Imagine browsing through millions of products online—sounds overwhelming, right? With AI, these platforms are working to simplify your shopping journey by pinpointing the perfect items for you among the vast array of listings.
Take Etsy, for example. They’ve introduced ‘Gift Mode,’ a new AI-powered feature that assists shoppers in selecting the ideal gift. By sharing a few details about the recipient, this tool suggests relevant products from Etsy’s extensive inventory. It not only saves time but also introduces shoppers to unique finds they might have missed otherwise.
Similarly, eBay’s ‘shop the look’ feature uses generative AI to create curated outfits based on your shopping history. This smart technology helps navigate eBay’s massive catalog of over 2 billion listings, making it easier for users to find what they’re looking for.
ThredUp, a popular secondhand clothing platform, is also leveraging AI to streamline its search capabilities. With thousands of new items added daily, finding specific pieces can be like searching for a needle in a haystack. AI now tags items with hundreds of attributes, making the search process more intuitive and efficient.
While AI brings exciting possibilities, there are hurdles to overcome. For instance, the processing time of large language models (LLMs) used in AI can sometimes test the patience of online shoppers accustomed to quick results. Implementing AI technology can also come with higher costs compared to traditional methods.
However, in the short term, AI technology is proving particularly beneficial for sellers. Tools like eBay’s ‘magical listing’ feature, powered by generative AI (GenAI), simplify and speed up the listing process, encouraging more sellers to join and enhancing the overall marketplace experience.
According to PYMNTS Intelligence, GenAI technology is emerging as a game-changer in retail, with 77% of business leaders ranking it as the most impactful emerging technology for the industry.
In conclusion, AI is reshaping the online shopping landscape, offering personalized experiences that benefit both shoppers and sellers alike. As technology continues to evolve, we can expect even more innovations that enhance convenience and efficiency in our online shopping adventures.