Google Launched Cloud Retail Search Tool To Solve $300B Abandonment Issue
Google launched the Cloud Retail Search Tool last Tuesday, to solve an issue of more than $300 billion in abandoned shopping carts. It is designed to help retailers improve their e-commerce business by helping them understand and serve user intent, as well as to offer tailored search functionality.
The GCP is expected to have a large impact on retail, especially given the large amount of “browser abandonment”. With beefed-up searching of eCommerce websites, they hope to capture more sales and deliver a high quality shopping experience to the end-users.
The tool lets Google-quality search within a retailer’s own website and digital properties to make them sell more. Google hired Harris Poll to conduct a survey of more than 10,000 global consumers and 200 retail website managers using the search feature on a retail website over the past 6 months.
In today’s world of smartphones, tablets and laptops, the average person is online hundreds of times a day. That’s a lot of opportunities to take advantage of. And when it comes to retail, the more clicks a retailer has, the more opportunities for the shopper.
Amazon Retail Search is a machine learning tool that analyzes user activity across the Amazon websites and mobile apps to map their shopping preferences and patterns, then returns the best results based on their behavior.
In contrast to traditional search platforms that are keyword-based, Google’s understanding of consumers’ intent and product requirements will enable retailers to significantly improve the search experience using intent-based search.
“We are excited to bring the power of artificial intelligence to the retail search. Now retailers can improve the customer experience using Retail Search and deliver perfect Product Search Results, fetched by Google Cloud AI Recommendations AI.”, said Srikanth Belwadi, Google Cloud group product manager. Retailers can now improve the customer experience using Retail Search and deliver perfect Product Search Results, fetched by Google Cloud AI Recommendations AI.
Google has taken the retail industry into a totally new era. It’s not only making resellers competitive with Amazon; it’s also creating a whole new class of resellers who earn their income from selling on Google Shopping.