• 👀 Problem
• 💭 Proposal
• Benefits of AI Assistants
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👀 Problem

In Latin America, the mobile retail startup sector, which sells both brand-new and used products, plays a pivotal role in the region’s economic development by engaging in both informal and formal commerce. These startups are driving economic growth in third-world countries by creating jobs, promoting entrepreneurship, and fostering innovation within the retail space. By offering a range of affordable products, these businesses provide critical access to technology for underserved communities, helping to bridge the digital divide. Additionally, the circulation of used products supports sustainability and resource efficiency, further contributing to the economic resilience and social well-being of these nations.

Dingo, which is a startup located in Guatemala City, it’s one among a variety of startups that has operations in this specific niche.

While they have experienced growth in their sales in the past years they also experienced a lot of customer interaction in their social channel such as WhatsApp, Facebook Messenger and Instagram (Meta Business Suite), which led to a substantial increase in active messaging replying a lot of repetitive questions related to product availability, warranties, and payment methods that very often do not end up in actual sales.

Several pieces of data and research can help explain this problem:

1. Increased Use of Social Media for Customer Service: Research has shown that customers increasingly turn to social media for customer service. According to a report by Sprout Social, 90% of people use social media to communicate with brands, and 63% expect companies to offer customer service through social channels. This shift in customer behaviour can lead to a high volume of inquiries, many of which are repetitive.
2. Customer Expectations of Instant Responses: Studies indicate that customers expect faster response times on social media than other channels. A HubSpot research report found that 82% of consumers expect an immediate response to a sales or marketing question on social media. This pressure to respond quickly can overwhelm businesses, especially when many inquiries are repetitive.
3. Repetitive Queries and Chatbots: Research by Oracle shows that 80% of businesses plan to deploy chatbots to automate customer service by 2024. The reason is the high volume of repetitive questions that can be effectively handled by AI, freeing up human agents for more complex interactions. This aligns with your problem, where repetitive inquiries about product availability, warranties, and payment methods could be handled by automated systems.
4. Impact on Sales Conversion: A study by Conversocial found that while social media interactions increase brand engagement, they don’t always lead to direct sales. This is because many interactions on social media are informational rather than transactional. Customers often inquire about products but may not be ready to purchase, leading to a gap between engagement and conversion.
5. Omnichannel Challenges: The rise of omnichannel customer service has also contributed to this issue. Businesses are expected to be present across multiple platforms (WhatsApp, Facebook Messenger, Instagram, etc.), but managing consistent and effective communication across these channels can be challenging. Research by Aberdeen Group found that companies with strong omnichannel customer engagement strategies retain an average of 89% of their customers, compared to 33% for companies with weak omnichannel strategies. However, the challenge remains in converting these interactions into sales.

In summary, E-commerce businesses, such as Dingo, often encounter the following challenges:

• Many customers browse the catalog but don’t make a purchase.
• This is often because they cannot find what they are looking for.
• Significant time is spent on tasks such as:
• Identifying the right products to offer
• Marketing those products effectively
• Managing and optimizing advertising strategies

💭 Proposal

Benefits of AI Assistants

1. Personalized Product Recommendations: An example of this is having a personalized shopping assistant like Luis Vuitton and Gucci, any of this high associate brand, they will per you with a personal assistant, a person which will conversate with you, asking what you need with a personalized touch, in order to make sure that the potential customer actually buy. For E-Commerce stores, this is very similar through an AI Personalized Assistant. It will find out what the customer wants and give them the exact product recommendation that will help them base on product availability in the inventory. This interaction will increase customer engagement, allow interactivity with the customer and the assistance. In addition it will also boost customer satisfaction.
1. Revenue increase: with this data, we can also figure out what type of items the people visiting and interacting in the social channels were actually looking for. This helps to understand if the product selection available fits their problem so that responsible teams can make decisions on whether include a specific product or not.
2. AI-Powered Virtual Assistants: Every single person has basic necessities that must be attended. With AI virtual assistants this is the equivalent of having 24/7 Instant customer support service. Business Owners can reduce operation cost, you don’t need to hire an army of people
3. AI for Quality Control and Customer Insights: With our AI-powered solution for Quality Control and Customer Insights, you can automate the process of detecting product inconsistencies and ensure top-notch quality at every stage of production. Simultaneously, the AI analyzes customer conversations, offering deep insights into preferences and areas for improvement. This dual functionality not only boosts operational efficiency but also helps you make data-driven decisions that elevate customer satisfaction and foster continuous business growth
4. Dynamic Pricing Strategies: Implementing AI-driven dynamic pricing strategies allows your business to adjust prices based on market demand, customer behavior, and competitor pricing. This ensures you remain competitive while maximizing profits, offering personalized pricing that adapts to evolving conditions, and enhancing overall revenue management
5. AI-Enhanced Customer Service: It revolutionizes how you engage with customers by providing instant, personalized responses, automating routine inquiries, and offering 24/7 support. This not only reduces response times but also improves customer satisfaction by delivering seamless, efficient interactions, ensuring every customer feels valued and heard