The initial wave of excitement over generative AI is fading, leaving many retailers asking, “Now what?” But three online marketplaces are implementing AI to strengthen seller relationships and enhance the customer experience across their platforms.
Shopify’s seller’s market: In April, Shopify rolled out Shopify Magic, AI-enabled technology designed to save merchants time while setting up their storefronts. At first, the tool could only generate product descriptions, but Shopify has expanded its capabilities to include the generation of blog posts, email subject lines, and headings for online stores.
By embedding AI across the entire Shopify product, merchants will be able to be able to build and scale their businesses more quickly and efficiently, said Finkelstein.
“By integrating AI directly into Shopify, we are providing businesses with the most modern tools that will enable them to make data-driven decisions, optimize their operations, and ultimately achieve greater success from first sale to full scale in today’s competitive market,” he said.
eBay talks shop: eBay is also using generative AI to help sellers generate product descriptions. With Magical Listing, sellers can choose to have detailed product information instantly populated based on a product’s title, category, or features. In its next iteration, Magical Listing will also let users upload a product photo and then generate the title, category, description, and item specifics from that photo, according to Jamie Iannone, CEO of eBay.
“The advent of generative AI has sparked an explosion of creativity at eBay among our product and engineering teams who have conceptualized new and innovative shopping experiences that can be rapidly deployed onto the site,” he said in a recent earnings call, citing two new AI-driven features launched within the eBay Motors app.
Etsy’s search party: Etsy, meanwhile, is using AI and machine learning to make its marketplace more organized, curated, and reliable.
Historically, Etsy’s machine learning models were created by a team of specialized data scientists and could take up to four months to develop, from cleaning and organizing the data to training and testing.
To speed up the process and democratize the technology, Etsy began an initiative about a year ago to make it so that “virtually any Etsy engineer can deploy their own machine learning models in a matter of days instead of months,” said Silverman.
This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.
One Liberty Plaza9th FloorNew York, NY 100061-800-405-0844