Let's take a closer look together at the launch of the Product Discovery Solutions for Retail and see in detail what it is all about.
This suite of services, created by Google, uses artificial intelligence and machine learning. Retailers can thus improve eCommerce management, providing personalized experiences to their customers.
Instead of developing in-house solutions, companies can offer ready-to-use answers for IT teams to customize for their challenges.
You too may have noticed that the pandemic and the corresponding rise in online shopping threaten to push the supply chain to a point of no return.
Think that at the beginning of Covid19 Amazon was forced to limit the amount of inventory that suppliers could send to warehouses.
The volume of eCommerce orders increased accelerating the transition to online shopping by as much as two years.
Companies that had already begun digital transformation, and were prepared for omnichannel, continuity, and personalization of services, were successful even in this difficult period compared to those that lagged behind.
The numbers speak for themselves. According to data from the B2c eCommerce Observatory, Italian eCommerce in 2020 reached a value of about 22.7 billion euros with a record growth of +26%, 4.7 billion more than in 2019.
Significant growth rates were registered especially forfood&grocery, informatics and consumer electronics, furniture and home living, but also for pharma, beauty and sports & fitness.
The retail market runs fast, Google even faster as it works tirelessly to offer innovative products and automatic updates close to the concrete needs of users like you.
Google with Product Discovery Solutions for Retail thanks to artificial intelligence and machine learning dynamically adapt to customer behavior and changes in variables such as assortment, prices and special offers.
You will understand that it is impossible to manage these initiatives in-house with your IT team, both because of the large investment of time and resources and because of the constant updates that must keep pace with innovation.
Let's rely on Google for quick-to-implement, customized retail answers.
Let's see together what Product Discovery Solutions for Retail includes.
Recommendations AI, which was launched in beta in July, excels at handling recommendations with long-tail products, users, and cold items.
The Google Search and YouTube have helped Google nurture in recent years leading-edge artificial intelligence algorithms. Therefore, it is not hard to see in this solution a strategic and concrete support that looks to the future of retail.
Thanks to deep learning models, so "context hungry," developed in collaboration with Google Brain and Google Research, Recommendations AI, is able to derive information on tens of millions of items and constantly iterate on this information in real time.
From a graphical interface, companies using Recommendations AI can configure, monitor, and launch recommendations while connecting data using existing integrations with Merchant Center, Google Tag Manager, Google Analytics 360, Cloud Storage, and BigQuery.
Recommendations AI can incorporate unstructured metadata such as product name, description, category, images, product longevity, and more, while customizing recommendations to deliver desired results, such as engagement, revenue, or conversions.
In addition, it allows Google Cloud clients to apply rules to refine what shoppers see and diversify the products they view by filtering based on product availability and custom tags.
Product Discovery Solutions for Retail also includes access to Google Vision Product Search. Shoppers can search for products with an image and receive a ranked list of visually and semantically similar items.
Vision Product Search leverages machine learning-based object recognition and search, to provide real-time results of similar or complementary items from retailers' product catalogs.
In addition to Recommendations AI and Vision API Product Search, Cloud Search for Retail.
is also included in Product Discovery Solutions for Retail.Attracting to the user's intent and context,provides search functionality for products that can be incorporated into websites and mobile apps.
Is your company ready to seize the opportunities of Google's Artificial Intelligence and Machine Learning?"