{"id":2153,"date":"2024-11-19T11:45:58","date_gmt":"2024-11-19T11:45:58","guid":{"rendered":"https:\/\/trackmefast.com\/blog\/?p=2153"},"modified":"2025-03-17T09:41:46","modified_gmt":"2025-03-17T09:41:46","slug":"why-and-how-e-commerce-businesses-can-utilize-ai-during-2024-holiday-season","status":"publish","type":"post","link":"https:\/\/trackmefast.com\/blog\/why-and-how-e-commerce-businesses-can-utilize-ai-during-2024-holiday-season\/","title":{"rendered":"Why &#038; How E-commerce Businesses Can Utilize AI during the 2024 Holiday Season"},"content":{"rendered":"\n<p class=\"has-text-align-center\"><em>As the Winter Holiday Season has a shorter time frame in 2024, e-commerce companies must make the most of it in every aspect possible. This is how the use of AI solutions can help them.&nbsp;<\/em><\/p>\n\n\n\n<!--more-->\n\n\n\n<p>If anything captured most of businesses\u2019 attention in the digital commerce niche in 2024 so far, it\u2019s definitely AI. However, even though a big share of analysts\u2019 discussions in terms of <a href=\"https:\/\/trackmefast.com\/blog\/two-ai-related-e-commerce-trends-2024\/\">AI-related industry trends<\/a> has been centered around content creation and chatbot tools, the scope of potentially beneficial tech, specifically during the busy Holiday Season, is much wider.&nbsp;<\/p>\n\n\n\n<h3><strong>Enhancing Gift Recommendations with AI<\/strong><\/h3>\n\n\n\n<p>One of the obvious ways e-commerce companies can take advantage of using complex AI algorithms, particularly during the Winter Holidays is to enhance the quality of personalized gift recommendations, e.g. by launching virtual shopping assistants (e.g. Rufus by <a href=\"https:\/\/trackmefast.com\/couriers\/amazon\">Amazon<\/a>) to help customers pick out the best option for their loved ones instead of the commonly presented <a href=\"https:\/\/certifier.io\/blog\/30-certificate-ideas-to-boost-your-certificates-performance\" target=\"_blank\" rel=\"noreferrer noopener\">gift certificates<\/a>.<\/p>\n\n\n\n<p>In this respect, one of the strong points, fueling the quality of such recommendations is e-retailers\u2019 direct access to customers\u2019 browsing behavior data and shopping history, utilized in tandem with carefully curated questionnaires to compose an extensive list of recommended gifts for each.&nbsp;<\/p>\n\n\n\n<p>When combined with MR\/AR and visual search features, which improve the interactivity aspect of gift browsing\/selection, the <a href=\"https:\/\/www.upsilonit.com\/blog\/how-to-integrate-ai-into-an-app\" target=\"_blank\" rel=\"noreferrer noopener\">integration of AI algorithms<\/a> can really boost sales rates in many categories, like clothing, travel and tech.&nbsp;<\/p>\n\n\n\n<h3><strong>Improving Demand Predictions &amp; Inventory Management with AI<\/strong><\/h3>\n\n\n\n<p>Since the sophisticated AI algorithms (including those providing <a href=\"https:\/\/www.luzmo.com\/blog\/embedded-business-intelligence-guide\" target=\"_blank\" rel=\"noreferrer noopener\">embedded business intelligence<\/a>) have huge data processing powers, it gets easier to better analyze historical shopping information and combine it with present-day economic factors, consumers\u2019 behavior on social media and seasonal trend data to make precise predictions for the upcoming Holiday Season sales rates in each product category, hence substantially reducing overstocking risks.<\/p>\n\n\n\n<p>More importantly, using the robust real-time capabilities it\u2019s also possible to adjust the e-retailers\u2019 <a href=\"https:\/\/capsulecrm.com\/blog\/what-are-sales-channels\/\" target=\"_blank\" rel=\"noreferrer noopener\">sales channels<\/a> and strategies fast, in case of sudden spikes and fluctuations in what their customers are buying during the Winter Holiday Season.\u00a0<\/p>\n\n\n\n<h3><strong>Battling Chargeback Fraud with AI<\/strong><\/h3>\n\n\n\n<p>While the use of AI to fight cyberfraud has already become common in many digital sectors, in e-commerce it happens to be especially effective in battling the so-called \u201cchargeback fraud.\u201d<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"has-text-align-right\"><strong>What is Chargeback Fraud?&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-right\">This type of fraudulent activity implies a customer disputes their past transaction, claiming that either the purchased product never arrived, or that they didn\u2019t even buy anything at all.&nbsp;<\/p>\n\n\n\n<p class=\"has-text-align-right\">In most cases, chargeback fraud affects online marketplaces, rather than direct retailers, which need to handle [tens\/hundreds of] thousands multiple transactions to different vendors daily, acting as a so-to-speak \u201cmerchant of record\u201d, hence responsible for managing third-party vendor refunds, if any, too, while having less control over the actual shipping\/delivery process.&nbsp;<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>In particular, the use of AI-powered algorithms simplifies and streamlines the analysis of buying patterns, making it easier to identify potential fraud and reveal systemic problems\/improvement areas with transaction management, if any.&nbsp;<\/p>\n\n\n\n<p>More importantly, AI tech solutions increase the efficiency of the overall dispute resolution rates, by continuously adapting their algorithms, based on the ongoing demand trend changes, chargeback issuer types, product specifics, etc.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the Winter Holiday Season has a shorter time frame in 2024, e-commerce companies must make the most of it in every aspect possible. This is how the use of AI solutions can help them.&nbsp;<\/p>\n","protected":false},"author":1,"featured_media":2155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[233,1],"tags":[373,351,379,375,377,355,251,267],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Benefit from AI in E-commerce during the 2024 Holiday Season | Blog | Track Me Fast<\/title>\n<meta name=\"description\" content=\"A brief guide by Track Me Fast explains how e-commerce businesses can benefit from using AI tech during the 2024 Winter Holiday Season.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trackmefast.com\/blog\/why-and-how-e-commerce-businesses-can-utilize-ai-during-2024-holiday-season\/\" \/>\n<meta property=\"og:locale\" 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