The key to successful selling on sites like Amazon? It might just be AI
Forbes - 02/28/2017
With thousands or even millions of dollars in sales at stake, companies aren’t likely to use AI within online stores unless they have some evidence that the effect on their bottom line will be positive. In this regard, researchers at Northeastern University found that, when sellers use algorithmic repricing, they’re more likely to be featured in the Amazon Buy Box. This remained true even when the sellers’ prices were higher than the prices of merchants who didn’t use algorithmic repricing. The same study found that prices of products from sellers using algorithmic pricing were 10 times more dynamic. The conclusion? Algorithmic repricing is a must for sellers who want to see their products as Amazon leaders.