MarTech Interview with Doug Fuehne, SVP at Pricefx (Business Opportunities - Advertising Service)
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Item ID 2536303 in Category: Business Opportunities - Advertising Service
MarTech Interview with Doug Fuehne, SVP at Pricefx | |
Today’s consumers seek clarity in their purchasing decisions, a need often unmet in online shopping. Numerous e-commerce platforms still rely on static and incomplete product imagery, creating gaps that make it challenging for customers to fully understand what they are buying before making a decision. When customers can’t preview their item thoroughly, considering all angles and multiple contexts, the likelihood of returns increases. As a result, online retailers grapple with logistical issues, face rising operational costs, and experience a decline in customer loyalty. Our recent consumer sentiment research found that 72% of consumers are less likely to shop on an e-commerce site again if the product they receive does not match the image depicted. Also Read – Cross-Media Optimization Technology (XMO) The competitive environment intensifies this challenge as online retailers compete for consumer attention and market share against visually captivating platforms like TikTok and Instagram. Immersive technologies such as computer-generated imagery (CGI), 3D imaging, augmented reality, and AI have emerged as solutions for e-commerce businesses to address these issues. These technologies empower retailers of all sizes to present a comprehensive and engaging representation of their products. Elevating Customer Satisfaction Through Immersive Retail Experiences AI has the potential to transform the shopping experience, particularly through applications like virtual assistants and chatbots. Generative AI enhances natural language understanding, enabling more seamless and context-aware conversations. Virtual assistants and chatbots can be programmed to communicate in multiple languages, supporting retail businesses in a global market. Additionally, immersive technology advances offer enhanced personalization opportunities. For instance, customers can utilize product visualization tools to customize products based on preferences like colors, patterns, and designs. Take Levi’s AI-enabled chatbot, Virtual Stylist,, which employs natural language processing to understand customer preferences for a pair of jeans, reducing the frustration of finding the perfect fit For more such updates, follow us on Google News Martech News | |
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| Target State: California Target City : Lake Los Angeles Last Update : Feb 13, 2024 3:49 AM Number of Views: 36 | Item Owner : Mark10 Contact Email: Contact Phone: (None) |
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2024-05-04 (0.390 sec)