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India's E-commerce Business can Benefit from Artificial Intelligence

By Viestories
New Update
Artificial Intelligence
Artificial Intelligence in E-commerce Business

The e-commerce economy is being transformed by artificial intelligence (AI). Customers are demanding faster, more seamless shopping experiences as the pandemic increases the popularity of online purchasing. As a response, demand for artificial intelligence tools has skyrocketed. AI is beginning to permeate all aspects of our lives. Artificial intelligence is almost everywhere, from self-checkout cash registers to advanced security checks at airports.

Businesses that are using AI better understand their customers and offer relevant products at the right time and through the right channel. By enabling faster and more reliable analytics, AI also enables businesses to identify competitors' strategies. The arrival of Artificial Intelligence accelerated the approaches and assisted in the development of remarkable business practices at scale. Similarly, the ways in which artificial intelligence (AI) has revolutionised various industries, including e-commerce, are versatile. Let's look at the gleaming changes AI has brought to the commercial sector and its benefits.

To Enhance Customer Recommendations

AI brands can effectively and accurately predict customer behavior and demand and to provide useful and relevant recommendations. Starbucks is a great example of how AI will be used to evaluate all the data available in order to provide more personalized recommendations.

The amount of information that businesses can collect from customers and the numbers of connections through which we can interact with them have grown exponentially in recent years, and our marketing and sales programmes must reflect this. Brands can present hyper-personalized, relevant content and offers to customers by using AI and real-time decisioning to recognize and understand a customer's intent through the data that they produce in real-time.

A New Level of Customization

AI allows e-commerce retailers to provide a consistent customer experience among all platforms. It will aid in the delivery of pertinent messages at the appropriate time. E-commerce businesses can now create personalized marketing campaigns to effectively interact with customers. A personalized intelligent automation system can respond based on consumer history, current needs, and specific tasks. Businesses can use AI-powered search engines, also known as insight engines, to enhance the efficacy of their site search engines.

Insight engines enable businesses to combine search with machine learning capabilities, making internal search more personalized and accurate. Personalization of information is possible by properly utilizing a customer's purchase history, service tickets, and browsing patterns. Similarly, through a variety of content types, such as actual information, images, videos, instructional material, and community discussion forums, messaging can become highly personalized.

Extensive Search Experiences

Artificial intelligence is a technology that provides a robust and accurate search experience and can assist in accomplishing the needful. It can assist you in developing a search engine that functions exactly like a sales representative by providing customers with the right products. One of the main reasons customers abandon ecommerce stores is a failure to find the products they are looking for.

The key concept for keeping customers on the home page is to facilitate it by making it more user-friendly. Remove any high-quality videos or photos that may cause your website to slow down. Make sure the search bar is in the centre and easily visible throughout your website. The term "searchandising" refers to the practise of combining "search" and "merchandising," which combines online search practises with merchandising techniques. When a customer approaches an e-commerce website, he or she usually goes straight to the search window.

E-commerce platforms have begun to recognize the value of implementing these innovative search solutions in order to leverage behavioral data and provide user-friendly, personalized, and profitable search experiences.

Price Optimization

Pricing is critical in both B2B and B2C businesses. You can also find out what works best for your business by varying your prices based on, demand, and a variety of other factors. AI can assist you in accomplishing this effectively. Artificial intelligence (AI) systems can forecast the best pricing for a product and the amount of discount that should be offered in order to maximise sales and profit.

Typically, retailers who choose AI-driven price optimization go through a few steps. They learn to create appropriate prices for stock-keeping units (SKUs), product portfolios, channels, points of sale, and finally customers. Profitability improves as a result to facilitate the purchase at all levels.

Forecasting Trends

Today's trend forecasting is much faster. Following the pandemic, most businesses will also want to plan their inventory using both real-time and historical data. The pervasiveness of technology, from social media to live-streamed collections, has democratized various industries, effectively altering the way people think and move throughout society. Trends indicate emerging consumer needs and as a developer, you can capitalize on their profit potential. Businesses can avoid bad product choices and capitalize on market opportunities by understanding consumer shifts and product trend predictions.

Automation of e-commerce

Whenever it comes to automation, artificial intelligence (AI) plays a critical role in assisting e-commerce business owners. With AI, it is possible to automate everything from presenting new items across multiple channels to coordinating sales, implementing loyalty discounts, identifying high-risk transactions and much more. On an e-commerce website, AI can help to solve a variety of product content issues. AI assists in the automation of product descriptions as well as the gathering of the most relevant and recent content from various sources.

Inventory Control

Predictive analysis of data science services is having a significant impact on inventory management. Once it comes to keeping inventory up to date, shelves filled and everything accessible in the supply chain inventory management is a nightmare. AI and machine learning technologies have already had and will continue to have a significant impact on eCommerce. Retailers can now predict their business's real-time inventory needs success can be attributed to artificial intelligence applications.

Voice Commerce and Virtual Assistants

Voice search is transforming the way people conduct web and mobile device searches. It has simplified the process of finding products online and offers a more personalised shopping experience. The positive outlook is supported by key industry trends.

  • According to ComScore, voice search will account for 50% of all online searches by 2020.
  • Current voice assistant users spend 500 percent more in the next three years, according to a Capgemini study published in 2018.
  • According to an OC&C report, voice shopping will reach $40 billion by 2022, representing a 20-fold increase over 2018.
  • By 2021, voice assistants can be used by more than 20% of the world's population.

Conclusion

The incredible transformation that e-commerce stores have achieved is progressing day by day. An e-commerce business may use AI to analyze the massive amounts of data it receives every second without breaking a sweat. The demand for such technology in e-commerce will grow even more than it is currently. We should expect to see significant advancements in e-commerce shopping experiences such as interactive shopping and autonomous last-mile delivery systems in the near future.

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Author – Bhoomika Sharma, M.Sc. Biotechnology

Frequently asked questions (FAQs)

What are the benefits of Artificial Intelligence in E-commerce?
1. To Enhance Customer Recommendations2. A New Level of Customization3. Extensive Search Experiences4. Price Optimization5. Forecasting Trends
How is AI used in E-commerce?
Businesses that are using AI better understand their customers and offer relevant products at the right time and through the right channel. By enabling faster and more reliable analytics, AI also enables businesses to identify competitors' strategies.
Is E-commerce an impact of Artificial Intelligence?
The demand for such technology in e-commerce will grow even more than it is currently. We should expect to see significant advancements in e-commerce shopping experiences such as interactive shopping and autonomous last-mile delivery systems in the near future.
Read the Next Article

Top 14 Indian Paint Brands in 2024

The paint sector in India has undergone remarkable expansion and evolution, making a substantial impact on the country's infrastructure advancement, interior design preferences, and overall visual allure. Undoubtedly, the leading paint brands in the nation have been pivotal in this achievement. With the domestic paint industry carrying a valuation of Rs. 50,000 crores, it's noteworthy that decorative paints encompass a significant 75% share of this market.

By Viestories
New Update

Top 14 Indian Paint Brands in 2024

India's infrastructure sector is expanding rapidly. With new buildings being constructed rapidly. However, no infrastructures is incomplete without proper paint. Paint not only enhances the aesthetic appeal of a building but also provides visual satisfaction.

The Indian paint industry is valued at approximately 50,000 crore rupees and is considered one of the fastest-growing industries in Asia. It provides a wide range of  products such as distemper, oil paint, acrylic paint, plastic paint, latex paint, emulsions, and more. In India there are lots of paint industries. In this article we will see some of the best paint companies in india.

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14 Best Indian Paint Brands in 2024

Here is the list of the top Indian paint brands:

1. Asian Paints

Founded in 1942, Asian Paints stands as India's foremost paint enterprise and ranks as Asia's third-largest in the industry.
Top 10 Indian Paint Brands | Asian Paints

In India's paint industry, Asian Paints is the biggest company in the country and the third-largest in Asia. It was Founded in 1942 by four friends - Chimanlal Choksi, Champaklal Choksi, Suryakant Dani, and Arvind Vakil. Its headquarters is situated in Mumbai, India.

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It is one of the top leading companies in paint brands with a revenue of Rs.34,488 crores, it is the top paint company in India. It specialises in producing a wide range of paints, for both decorative and industrial purposes. Additionally, as the parent company of Berger International, its has extended its presence globally.

Their services are available in more than 19 countries, Asian Paints has made remarkable progress in revolutionising the paint industry and is widely regarded as the best paint brand in India. Committed to excellence, the company has founded the Asian Paint Colour Academy, which provides comprehensive training programs for paint applicators, ensuring their skills align with the company's high standards.

What distinguishes Asian Paints is its dedication to innovation and customer-focused solutions. By launching creative Initiatives such as Colour Worlds, Home Solutions, ColourNext, and Kid's World, the company seeks to transform homes and spaces worldwide, providing customers with unique and immersive experiences.

2. Indigo Paints

Founded in 2000, Indigo Paints had a modest inception. Exterior Emulsions, Interior Emulsions, Distempers, and Primers are the products of the company.
Top 10 Indian Paint Brands | Indigo Paints

Indigo Paints  was founded in 2000. In the starting days they produce low-cost cement paints. Over time, it expanded its product range to include various types of water-based paints, like Exterior Emulsions, Interior Emulsions, Distempers, Primers, and more.

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Indigo Paints was established in March  2000 and now it is in the top ten paint companies. Headquartered in Pune, the company provides a wide range of products including Interior emulsions, exterior emulsions, enamels, putties, primers, and more.

Currently, indigo Paints is regarded as one of the strongest competitors in the Indian paint market. It has built a reputation as an inventive paint manufacturer, consistently introducing new and unique products not before available in the country.

3. Kansai Nerolac Paints

Kansai Nerolac Paints, the premier paint brand in India, was founded in 1920 and operates from Mumbai, Maharashtra.
Top 10 Indian Paint Brands | Kansai Nerolac Paints

Mumbai-based Kansai Nerolac Paint Ltd founded  in 1920. The company provides a range of products such as Decorative paints, coatings, industrial (re)finishing products, basic and industrial chemicals, and many more. It creates and supplies paint systems for various sectors including cycle, material handling, bus bodies, electrical components, containers, and finishing lines.

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In 1986, GNPL signed a TAA in Osaka with Kansai Paints Co. Ltd. of Japan to produce Cathodic Electrodeposition Primer and other advanced coatings for automotive products. GNPL was the first company in India to adopt this technology.

4. Dulux Paints

Dulux stands as India's foremost paint brand, recognized for its pioneering presence since its establishment in 1931.
Top 10 Indian Paint Brands | Dulux Paints

Dulux stands as India's foremost paint brand, recognized for its pioneering presence since its establishment in 1931. With a global reputation, the brand has been associated with esteemed entities like Imperial Chemical Industries and DuPont since its inception.

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Headquartered in Gurugram, the company efficiently manages a network of 75 warehouses. Dulux enjoys extensive distribution, particularly within the realm of decorative coatings, solidifying its position as a leading choice for wall paint solutions.

5. British Paints

British Paints stands out as one of India's prominent paint manufacturers and the largest companies in the field.
Top 10 Indian Paint Brands | British Paints

British Paints stands out as one of India's prominent paint manufacturers and the largest companies in the field. With a commitment to delivering tailored painting solutions, the company is dedicated to achieving the utmost customer contentment. Making its foray into the Indian market in 1947, British Paints swiftly ascended to a position of prominence as a top provider of marine, industrial, and architectural coatings.

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Renowned for its cost-effective approach, British Paints offers an array of industrial and decorative products, solidifying its status as one of India's premier paint brands.

6. Berger Paint

Berger Paints - Founded in Kolkata, this Indian company boasts a widespread presence with 16 manufacturing facilities strategically situated across the nation.
Top 10 Indian Paint Brands | Berger Paint

Kolkata-based Berger Paints India, is one of the top paint companies in India, recognized as a leading paint brand in India.The company operates an extensive network of 16 manufacturing plants across India, along with two in Nepal, one in Poland, and in Russia.

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Each quarter, Berger Paints is among the fastest-growing companies in the industry. Its product range includes Exterior Wall Coatings, Interior Wall Coatings, Berger Metal & Wood Paints, Undercoats, Express Painting, and Construction Chemicals.

Berger Paints India Limited is the second-largest paint company in the country, known for its rapid growth and high quality and providing the best paints in India. It employs over 3450 employees and has a nationwide distribution network of more than 25,000 dealers. The company ranks second among India's top 10 paint companies by turnover.

7. Jenson & Nicholson Paints

Gurgaon-based Jenson & Nicholson Paints is another one of the young paint companies in India.
Top 10 Indian Paint Brands | Jenson & Nicholson Paints

Gurgaon-based Jenson & Nicholson Paints is another one of the young paint companies in India. But It has established a significant presence in the Indian market. It operates as a joint venture, focusing on industrial paints and decorative paints as its primary offerings.

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What sets this company apart is its commitment to eco-friendly products and their effectiveness against germs. This distinct approach has quickly endeared the brand to the Indian populace, making it a favored choice in the paint market. The company was founded by John Jenson & V. Nageswara Rao. 

8. Grauer & Weil India

Grauer and Weil India Ltd stands as one of the prominent paint enterprises in India.
Top 10 Indian Paint Brands | Grauer and Weil India

Grauer and Weil India Ltd stands as one of the prominent paint enterprises in India. Beyond its operations within the country, the company has extended its reach to multiple other nations. Despite adopting a modest advertising approach, the company has managed to cultivate a strong reputation within the Indian market.

Its products have garnered reviews and ratings resulting in an overall score of 3.8 out of 5, showcasing a commendable standing in comparison to its rivals. The enterprise was established in Kolkata by Ramanlal Shah & Dipesh Mehta.

9. Akzo Nobel India Ltd

Akzo Nobel India Ltd holds the distinction of being the global leader in paint and coating manufacturing.
Top 10 Indian Paint Brands | Akzo Nobel India Ltd

AkzoNobel, is a well known paint and coatings firm, has been active in India for nearly 60 years. As one of the leading paint companies in the country, it has built a strong presence across India, their services are available in 5 different areas.

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AkzoNobel NV acquired Imperial Chemical  Industries Ltd., the holding company of ICI India Limited, through a scheme of arrangement under section 425 of the UK Companies Act 1985. It was renamed as the AkzoNobel India Limited, further establishing its position as a leading provider of high-quality coatings in the country.

In 2012, three more AkzoNobel Group companies operating in India were merged under the AkzoNobel India Limited, making it the country's only integrated Paints and Coatings company with a small Chemicals portfolio.

In addition to paints and coatings, AkzoNobel is engaged in various industries, including automotive, aerospace, marine, and industrial coatings. Their advanced technologies and expertise have made them a trusted partner for businesses looking for high quality protection, performance, and aesthetics.

10. Sirca Paints India Ltd

Founded by  Sanjay Agarwal, Sirca Paints stands as a significant player in the realm of paint and coating manufacturing.
Top 10 Indian Paint Brands | Sirca Paints India Ltd

Founded by  Sanjay Agarwal, Sirca Paints stands as a significant player in the realm of paint and coating manufacturing. Despite its youthfulness, the company has managed to secure a prominent position among India's top 15 paint brands. Initially known by a different name, it was later rebranded.

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Originally incorporated as Sircolor Wood Coatings Private Limited, the company's offerings were well-received by customers, being regarded as products offering good value. However, Sirca's presence in the paint sector of the nation is often overlooked, remaining an underrated entity.

11. Nippon Paints

Nippon Paint Brand

Nippon Paint India Pvt Ltd is a leading paint and product manufacturer based in India. Globally, It ranks as the seventh-largest paint maker. The company was originally founded in 1881 by Jujiro Moteki and Komyosha. Established in India in 2006, Nippon Paint has quickly grown into a major player, recognised for its dedication to providing superior high-quality paint products across a diverse range of segments.

Nippon paint makes high-quality paints and coatings for the automotive, industrial, and decorative sectors. Their environmentally friendly products include Marine coatings, automotive coatings, industrial coatings, and fine chemicals.

A key feature of Nippon Paint's strategy is its focus on sustainability. The company prioritises eco-friendly solutions, integrating sustainable practices into both its manufacturing processes and product lines. Nippon Paint is proud to produce environmentally responsible paints that reduce environmental impact while delivering outstanding performance.

12. Shalimar Paints

Shalimar Paint Brand

Shalimar Paints Ltd has one of the top paint companies in India. Headquartered in Gurgaon, it was established in 1902 by AC Turner and AC Wright. Shalimar Paints specialises in manufacturing and distributing an exceptional range of industrial coatings and decorative paints, catering to a wide range of customers across India.

Through its dedication to innovation and quality, Shalimar pants has maintained its position as a trusted name in the industry, earning a well-deserved reputation as one of the best paint brands in India. The company consistently provides customers with the best of both worlds: high quality products and exceptional service.

Shalimar Paints Ltd has played a key role in painting many of India's iconic structures, including Rashtrapati Bhavan, Howrah Bridge, Vidyasagar Setu, and Salt Lake Stadium.

In 1992, Shalimar Paints established its second manufacturing facility in Nashik, Maharashtra, to serve the Western region as it expanded its presence across India. In 2002, the company further expanded by opening its third  manufacturing plant in Sikandrabad, Uttar Pradesh.

13. Snowcem Paints Limited

Snowcem Paint Brand in India

Snowcem paints limited ranks 10th among India's top paint companies. It was founded  in 1959 by Mr. George Lillington in Mumbai. The company specialises in manufactures interior and exterior emulsions, primers, cement paints, wall putty, more. As one of the biggest cement paint producers in India, Snowcem operates four manufacturing units across the country, generating approximately $6 million. 

14. Sheenlac Paints

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Sheenlac paints ranks 9th position among India's top paint companies. It was founded in 1962 by Mr. John Peter.  It is known for its innovation, Sheenlac was the first company to introduce sanding sealer and non-alcoholic wood Polish. It operates 4 manufacturing units in the country. They  deal in various types of products such as interior & exterior wood coatings, interior and exterior wall paints, floor coatings paints, automotive coatings, more.

Conclusion

They all are the best paint companies in India, renowned for their diverse selection catering to various sectors. Whether it's intended for household applications, decorative purposes, industrial requirements, or automotive projects, these are the esteemed names in the industry that provide paints of exceptional quality. Choose among these well-established brands, which are highly regarded and widely sought after. Explore the top choices conveniently accessible through online platforms.

This was our selection of the Top 14 Indian Paint Brands. We hope this is useful to you. The order of this list is random.

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Frequently asked questions (FAQs)

What are the Top 10 Indian Paint Brands In 2024?
Asian Paints, Indigo Paints, Kansai Nerolac Paints, Dulux Paints, British Paints, Berger Paint, Jenson & Nicholson Paints, Grauer, Weil India, Akzo Nobel India Ltd, Sirca Paints India Ltd. are the Top 10 Indian Paint Brands In 2024.
Which paint brand stands at the No. 1 position in India?
Asian Paints stands at no.1 position in India.
What is the revenue of the paint industry in the Indian market?
Currently, the revenue of the paint industry is around Rs 62,000 crore in the Indian market, as per reported by .