Published: 14/09/2024
Reading time: 2.8Min
B2B Frontrunners Webinar
Expert presentation on January 30, 2024, in the B2B Frontrunners Community on how AI technologies can advance success in e-commerce.
Participants:
- Oliver Maisch – CIO – VBH Holding GmbH
- Benjamin Rost – Board of Directors – Experts in Motion AG
- Ulf Seelig – Principal Consultant Digital Business & eCommerce – Experts in Motion AG
- Chi Shing Chang – Managing Director – SPARQUE
- Nils Breitman – Principal Enterprise Architect – Intershop
- Arjen Borsing – Visionary Strategist – Customer Journey Experts
How Generative AI Enables Revenue Opportunities through Optimized Product Recommendations
Online retailers have a variety of methods to increase their revenue by optimizing their online shops. These methods include enhancing user experience, personalization, process optimization, and SEO. Additionally, diversification through cross-selling and upselling can offer significant potential. However, wholesalers in B2B e-commerce often encounter difficulties in providing the necessary data for recommendation systems. Often, the product data provided by suppliers and manufacturers lacks relevant information. In such cases, generative AI can help to bridge the gap.
Use Case
During the webinar, VBH’s Scanner App was used as a case study to demonstrate how generative AI ChatGPT can be integrated into Sparque.ai’s search strategies to deliver contextual product recommendations. The demo was presented by Oliver Maisch, VBH’s CIO, and Chi Shing Chang, co-founder of SPARQUE.AI. Participants gained valuable insights on how to increase revenue by intelligently connecting different systems to generate optimized product suggestions.
Here are some of the key takeaways from the webinar:
- Learn about the role of ChatGPT and similar technologies, and how they can be used to develop a strategic vision for AI implementation.
- Use context-dependent AI content to enhance product recommendations in your shop.
- Use ChatGPT as a source of missing cross-selling information.
- Combine standard search strategies with AI recommendations to achieve optimized search results.
- Provide high-quality product suggestions to increase conversion rates.
Information about the Companies
VBH
VBH is a leading international wholesale company specializing in window and door hardware. With an impressive annual turnover of around EUR 550 million, the company demonstrates its strong presence on the global market.
Sparque
SPARQUE is an advanced AI-based platform that helps online retailers optimize customer interaction through personalized product recommendations and search results. This enhances the customer experience and increases sales.
Intershop
Intershop’s Commerce Cloud is a highly flexible and scalable e-commerce platform. The platform’s architecture allows for customization and integration with existing systems. As a Platinum Partner, XIM implements the Intershop Commerce SaaS platform with dedicated B2B functionality.
