81% of online retailers increase AI budget to boost holiday sales, report reveals

Online retailers in the UK are increasing their investments in artificial intelligence systems, according to the 2021 ecommerce outlook report. 

In the run up to Christmas, retailers are turning to AI to help manage stock disruptions, improve operations and increase sales. 

The research reveals that 85 per cent of retailers expect online sales to increase during the 2021 holiday season, yet 42 per cent of retailers remain concerned about the impact supply chain disruptions will have on inventories and delivery. 

AI is seen as a key tool in ecommerce and is being employed for real-time recommendations, enabling targeted campaigns, and improving supply chain management. 

READ MORE: Shein named ‘most manipulative’ fast fashion website

In addition, online retailers are looking to AI to help drive overall growth, with a third of respondents predicting that AI can increase revenues by 40 per cent.

The survey also revealed that the top priorities for online retailers this year are inventory, pricing, and website experience.

“Retailers need AI to create a flawless purchasing experience,” Anodot chief executive and founder David Drai said. 

“Otherwise, shoppers will simply turn to the bigger retailing behemoths or the next online retailer to get their gifts.”

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