AI - Lazzie Lazada: The Rise of BigSeller and It's Impact on E-Commerce Success
Imelda 20 Dec 2024 07:09
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“Our goal is to help more local brands and MSMEs (micro, small and medium enterprises) adopt e-commerce, and really experience how their businesses can grow online with Lazada,” - Carlos Barrera, Lazada Philippines CEO.
It is the first AI chatbot of it's type in Southeast Asia's e-commerce industry. "Lazzie" refers to a new AI technology designed to enhance the online shopping experience. It appears that Lazzie is positioned to help improve consumer interactions and decision-making during online shopping. AI solutions like Lazzie can be integrated into e-commerce platforms, offering personalized product recommendations, virtual shopping assistants, or even real-time customer service through chatbots.
These AI-driven systems can analyze user behavior, preferences, and previous purchases to provide tailored suggestions, making the shopping process more efficient and enjoyable. Some advanced AI technologies also allow users to try products virtually, such as clothing or makeup, through augmented reality features. AI - Lazzie can offer significant benefits to e-commerce platforms like BigSeller, which may refer to a large online retailer or marketplace.
Here are several ways Lazzie could be beneficial to BigSeller:
1. Personalized Shopping Experience
Lazzie could enhance the shopping experience by analyzing user preferences, browsing history, and purchase patterns to offer tailored recommendations. This personal approach can increase customer satisfaction and lead to higher conversion rates, as users are more likely to purchase items that are relevant to them.
2. Increased Conversion Rates
With AI-driven tools like Lazzie providing product suggestions, live assistance, and personalized marketing, BigSeller can boost sales. AI can help reduce the barriers to purchase by guiding users to products that match their needs, which can lead to more successful transactions.
3. Optimized Inventory Management
AI tools like Lazzie could assist BigSeller in managing it's inventory more efficiently. By analyzing trends, sales data, and customer preferences, Lazzie can predict demand for specific products, allowing BigSeller to maintain optimal stock levels, reduce overstock or understock situations, and prevent inventory-related issues.
4. Enhanced Customer Support
Lazzie, as an AI chatbot or virtual assistant, can provide 24/7 customer service, answering queries, solving issues, and guiding users through the purchasing process. This automation can significantly reduce the need for large customer support teams and improve the customer experience by offering quick, accurate responses.
5. Improved Marketing and Customer Retention
Lazzie can analyze customer data and help BigSeller design targeted marketing campaigns, leading to improved customer retention. Personalized promotions, discounts, or offers can be pushed to customers based on their buying habits, increasing loyalty and encouraging repeat business.
6. Faster Decision Making
Lazzie’s ability to analyze vast amounts of data quickly can enable BigSeller to make data-driven decisions in real time. This includes everything from product recommendations to changes in pricing, marketing strategies, and customer service approaches, helping the business stay agile and responsive to market trends.
7. Better Product Discovery
Lazzie could help customers discover new or related products that they may not have found otherwise. By suggesting complementary items or trending products, Lazzie could improve overall sales per customer and increase average order values (AOV).
Lazada Group's Chief Technology Officer, Howard Wang, highlights a "significant increase" of over 30 percent in the conversion rate (the number of users or visitors on the site) after integrating technological innovations like AI into its operations. Speaking at a media event in Singapore, Wang identified two key opportunities arising from the introduction of GenAI features on the Lazada app in the upcoming years. "The first opportunity is the shopping experience... it will likely be completely transformed in the next two or three years," Wang states, noting that the new AI feature will assist users in navigating the platform's vast product selection. From a merchant's perspective, he adds, Lazada anticipates a major opportunity to reduce overhead costs and ensure profitability. During the same event, Lazada unveiled a white paper co-authored with market research firm Kantar, exploring the adoption and use of AI in e-commerce platforms. The white paper surveyed over 6,000 shoppers across six Southeast Asian countries, including the Philippines. The findings revealed that 52 percent of respondents cited convenience as a reason for adopting AI in their daily lives, while 83 percent said they would be willing to pay more for AI-driven shopping experiences. Additionally, 63 percent of respondents believe AI is already widely used in online shopping, with AI chatbots, translation services, and visual product searches being recognized as key AI features on online shopping platforms.
To enhance customer experience, Lazada launched an improved version of its return and refund policies with 30-day free returns including expanded categories for products eligible under Change of Mind reasons. In the Philippines, Lazada continues to expand its footprint nationwide, investing in deeper operations across Visayas and Mindanao. By integrating Lazzie, BigSeller could stay ahead of competitors, provide a superior shopping experience, and increase profitability, all while leveraging AI to optimize and automate various aspects of their operations.