Experience the Magic with Conversational Commerce - Your Wish is AI's Command

The Conversational Commerce revolution isn’t coming – it’s here!

By 2026, over half the US population will be shopping with voice assistants.

Millions of consumers are already ditching keyboards and making purchases with just their voice.
By the end of 2024, a staggering 29 million Americans (over 10% of the population!) will buy through their smart speakers.

Is your business ready to tap into this booming market?

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What is Conversational Commerce?

Conversational commerce refers to messaging and chat applications to facilitate interactions and transactions between businesses and customers.
It leverages chatbots, virtual assistants, and natural language processing to provide a seamless, personalized shopping or service experience through conversations.

Generative AI has redefined this practice, thanks to its capacity to tailor its results to individuals! For example, a chatbot could suggest complementary products based on past purchases or help customers find the perfect outfit for an event.

According to a recent McKinsey study, if Generative AI use cases were fully implemented, companies could generate an additional $400 billion to $660 billion in economic impact for the Retail and Consumer Goods industry. More specifically, Conversational commerce can lead to a 6-8% reduction in cart abandonment rates, and E-commerce businesses can see an average revenue increase of 7-25% through conversational commerce.

Now is the time to look ahead and harness the power of conversational commerce – are you ready to unlock growth for your business?

It’s time to re-define customer experience

Enabling mass personalization of conversational commerce redefines the whole customer experience.

By utilizing AI to understand customer preferences, provide tailored recommendations, and anticipate needs proactively, businesses can increase customer satisfaction and retention rates while fostering deeper brand loyalty.

Let’s look at how companies could achieve this through conversational commerce ...

Personalized food plan

“Design a personalized food plan for my marathon next month, considering my dietary preferences, training schedule, and race day goals. Include specific meal and snack options, and email me the plan.”

Weekend Delivery

“Can you find dining table and chair sets that match my current living room furniture and seat 4? I’m ready to order, so please narrow down the options to those available for weekend delivery”

Fast shipping

“We’re getting a 3-year-old Golden Retriever. Can you recommend and order the ideal food and treats for his breed and age? Also, please include 2 durable, engaging toys for a large dog. Let’s prioritize options with fast shipping.”

Why a Fragmented Approach Holds You Back

Imagine this: you have a treasure chest filled with cutting-edge AI tools, each promising to revolutionize a different aspect of your consumer goods business.

The reality? Many consumer goods companies find themselves in this very situation. While they’ve adopted various AI-powered solutions for tasks like marketing or supply chain management, these tools often operate in isolation.

This fragmented approach is like having a key to each compartment of the treasure chest, but never the one that unlocks its full potential.

The true power of AI lies in its cross-functional synergy. When you break down the silos between these solutions, a unified vision emerges. Imagine intelligent marketing campaigns informed by real-time customer insights. Or a seamless, AI-driven supply chain that optimizes production and distribution based on dynamic market trends.

This is the transformative power of AI waiting to be unleashed. However, to achieve this, consumer goods companies need to move beyond a siloed approach and embrace a more holistic strategy to achieve this.

The Future of Commerce is Conversational

To build well-functioning Conversational Commerce requires three key elements working in synergy

1) Data Management

2) Composable Commerce

3) Conversational AI bots

is the cornerstone of any successful AI initiative. It involves identifying relevant data sources, cleaning and harmonizing data for consistency, and organizing and centralizing data collection for easy access and analysis. Without clean, centralized, and organized data, even the best AI algorithms are irrelevant – you risk sending incorrect information or using the right information for the wrong purpose
A robust digital commerce solution must seamlessly connect with key data sources, including customer information (CRM), product data (PIM), and real-time inventory levels. This integration is essential for leveraging data across channels and tools. A well-connected digital ecosystem serves as the backbone of success, enabling data-driven insights and creating a seamless experience for customers
Conversational AI bots are embedded in connected tools, forming the backbone of modern Conversational Commerce. The AI solution itself acts as the binder, shaping the user experience. The ideal choice for your business depends on your specific use cases, channels, and existing tech stack

Build the Future of Commerce, Faster

  • Our API-first, composable PaaS delivers flexibility, speed, and best-of-breed solutions for unparalleled performance and rapid time to value.
  • Choose from over 750 decoupled features to streamline operations, drive personalization, and scale your business with ease.
  • Spryker is your transformation partner, here with you every step of the way.  Our business and technical services empower you to optimize operations, unlock new opportunities, and accelerate growth.

Unlock Your Growth Potential – Book a Meeting with our Experts

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Visionary

Spryker recognized in the Gartner Magic Quadrant™️ for Digital Commerce as a Visionary for the 3rd consecutive year

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Strong Performer

Included as B2B and B2C commerce vendor in 2023 Forrester Landscape Reports for B2B & B2C Commerce Solutions

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Leader

Spryker is a modular, API-first, digital commerce platform that supports a wide range of business models

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About Spryker

Spryker is the leading composable commerce platform for enterprises with sophisticated business models to enable growth, innovation, and differentiation. Designed specifically for sophisticated transactional business, Spryker’s easy-to-use, headless, API-first model offers a best-of-breed approach that provides businesses the flexibility to adapt, scale, and quickly go to market while facilitating faster time-to-value throughout their digital transformation journey. As a global platform leader for B2B and B2C Enterprise Marketplaces, Thing Commerce, and Unified Commerce, Spryker has empowered 150+ global enterprise customers worldwide and is trusted by brands such as ALDI, Siemens, Hilti, and Ricoh. Spryker was recognized by Gartner® as a Visionary in the 2023 Magic Quadrant™ for Digital Commerce and was also ranked as a Strong Performer in The Forrester Wave™: B2B Commerce Solutions, Q2 2022. Spryker is a privately held technology company headquartered in Berlin and New York. Find out more at spryker.com

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