Business View Magazine | January 2020

17 BUSINESS VIEW MAGAZINE JANUARY 2020 new products and seasonal promotions to all of your channels simultaneously, meaning you only need to create and set the time for things to be tested and delivered. Chatbots for Support Your e-commerce store operates 24/7, but your humans don’t. That could mean customers come to shop and have questions but then are told to wait until the next morning to get an answer. That gives them hours and hours to find an alternative to you. Enter chatbots. The low-power AI available to e-commerce stores includes chatbots that are smart enough to answer customer questions based on the information you provide. They can help with sizes and color options, let people know what is in stock right now, explain shipping costs and timing, and much more. Today’s chatbots no longer just need to link to different FAQ pages or spit out information that’s flat and may or may not answer a question. Look for advanced features that other retailers are providing to see what’s available. E-commerce businesses can benefit, especially from in- chat features like accepting payments and completing purchases , getting updates on orders or tracking information, or even reminding them about the coupons they have available on their account. Vendor Sourcing Solutions Growing e-commerce brands need to protect their bottom line, and that includes their supply chain. Safeguards here are hard to come by, especially sourcing vendors for individual parts or raw materials at costs that are similar to your main source. To address these, a variety of matchmaking tools are now arriving for e-commerce brands. They’re designed to reduce the risks of shifting your manufacturing by having the platform vet manufacturers first. Some like Sourcify provide money-back guarantees if you’re not satisfied with the product that’s delivered. Look for programs that also help you with project management and workflow to introduce vendors for various products or parts. If you’re building a list of backup suppliers, review the costs associated with the platform as well as minimum order volume, so you know how to budget appropriately and determine when you break even or protect enough revenue for the costs to be worthwhile. Price-Smart Selection Tools The final area where growing e-commerce brands focus their technology are places where they can improve margins relative to processes.