Something happened in the late 1990s and early 2000s that fueled the growth of the e-commerce industry like never before.
It was the shift towards secure online payment systems, like SET, that truly made online shopping safe and fast. Before this much-needed retail technology was introduced, online shoppers were not too eager to click on that Buy Now button due to concerns about the security of their financial information.
PayPal and similar reliable online payment platforms revolutionized e-commerce by providing a secure and convenient way for users to make transactions online. These systems evoked trust in online shoppers and made the online shopping industry grow extremely fast.
Much like 30 years ago, when e-commerce faced an issue of unreliable and unsafe online payments, modern online shopping is currently dealing with a big challenge. And what’s that challenge, you ask?
It’s the problem of slow and inaccurate product discovery.
Solving the Problem of Traditional Text-Based Search
According to eMarketer, global retail e-commerce sales will reach nearly $7 trillion in 2024 despite this industry not meeting its full potential.
The growth is evident, but certain things keep this huge industry from reaching even higher numbers. Last year, the global e-commerce website conversion rate was 2.58%, two times lower than the numbers from 2010.
If we look at the bounce rate numbers, we see that every other visitor leaves after viewing just one page.
So, what’s wrong?
The most significant obstacles currently include:
- bad user experience
- slow and inaccurate product discovery
So, basically, if a shopper can’t easily and quickly find the product they want within your online shop, they are highly likely to leave your store and look for it elsewhere.
Quick Example of Inaccurate Product Discovery
When a website doesn’t feature an AI-powered visual search function, it often fails to bring back relevant results to the shopper, causing visitor frustration and missed sales.
Text search algorithms often provide irrelevant results because they rely only on keyword matching.
For instance, I visited a website from a famous fashion brand and searched for red shoes. Unsurprisingly, I got results that are neither red nor shoes:
This is a huge problem for online stores as it drives shoppers away from your e-commerce platform. However, this can be solved rather easily by using visual search methods and technologies.
AI-Powered Visual Search Tools: The Next Big Thing for Online Shopping
Visual Search Technology is now transforming online shopping by enabling users to find products using images instead of text. This intuitive approach streamlines the shopping experience, offering faster and more accurate results.
Imagine visiting an online shopping platform and, with only a couple of taps of the products you like, getting a whole wall of similar items that truly meet your taste, desire, and style.
This shift towards visual search enhances personalization and interaction, revolutionizing the digital marketplace. As businesses adapt to this trend, they must strategize to thrive in this visually-driven environment.
How Visual Search Operates
AI-driven image search technology uses cutting-edge computer vision algorithms to turn pictures into effective search terms, vastly improving and speeding up product discovery and the overall online shopping experience.
It relies on powerful image recognition to thoroughly analyze and understand images. By closely examining colors and shapes, visual search tools can identify subtle differences in shades and patterns, ensuring the search results closely match what the shopper is looking for.
Instead of wading through countless pages of text-based search results, visual search allows users to simply tap a couple of images to find similar items in an online store. Whether it’s a piece of clothing, furniture, footwear, or any other item, visual search narrows down the options to those that closely resemble your search intent.
This not only saves time but also introduces users to products they may not have found otherwise.
Here’s how AI-powered visual search works (demo video also available below):
- You input a couple of keywords and search for the product you want.
- You find an item you like and tap on a couple of products more.
- The visual search tool examines the product photos and finds exactly the products that match your search intent and taste.
- You buy the item you want in mere seconds.
This is particularly helpful for items that are hard to describe accurately using only text.
In essence, these technological improvements make a shopping experience more enjoyable, accurate, and interactive, transforming online shopping from a mere necessity into a pleasant part of daily life.
Benefits of Visual Search in Online Shopping:
- Quicker Decisions: With the ability to find products faster, customers are more likely to make a purchase.
- Accessible Worldwide: This technology breaks down language barriers, allowing people to search for products using images from anywhere worldwide.
- Customized Shopping: It suggests products that match your style and preferences, making your shopping experience unique and tailored to your taste.
- Fewer Returns: When customers get exactly what they were looking for, they’re less likely to return their purchases.
- Better and Faster Online Shopping Experience Increases Revenue: E-commerce platforms that use visual search see an immediate boost in sales and revenue.
In a world where shopping from the comfort of your own home has become the norm, visual search technology is a game-changer.
It addresses common frustrations by making it straightforward to find what you’re looking for without the need to scroll through pages of text, navigate complicated menus, and use complex search filters.
Let Miros.ai Help Your E-commerce Business Grow Fast
Miros is a simple and easy-to-integrate AI-powered visual search tool that enables online stores to provide their consumers with a simple and swift online shopping experience.
It helps your shoppers find the products even when they can’t think of the right keywords to describe them. With just one text-based search and a couple of taps on the products they like, the shoppers are presented with an entire wall of similar items that match their desires and styles.
It’s like having a personal shopping assistant who knows you well but also knows every single item in the store, turning an online shopping experience into a joyous and thrilling ride that resembles scrolling through Pinterest or TikTok.
Here’s a quick example of how it works:
You can see that Miros visual search is not only capable of improving the overall online shopping experience for your customers, but it will also help you sell more products by vastly upgrading product recommendation and personalization.
Your e-commerce KPIs will skyrocket almost immediately.
Let’s take Momox, for example, one of Miros’ biggest clients. Their GMV improved by almost 20%, AOV by 11%, and ARPU by 10% after just a short time of using the Miros visual search.
Percentil is another Miros client with similar KPI boosts; you can read about it here.
Want to quickly and easily improve your own e-commerce KPIs and sales? Book a demo with our friendly team now.
