GenAI Report by the AIM Group: Insights from Membrace

The AIM Group, a company providing global business intelligence services, has recently published a report on GenAI, which also features an article from Valentina Semenova, Membrace’s Co-Founder and CPO. Here are some of the key highlights of her piece “AI, a Must-Have for Marketplaces in 2024”:

Buyer Influence on Marketplaces

The survey by Membrace underscores that 85% of global respondents consider the quality of product descriptions, images, and details as significant factors influencing their choice of marketplaces. Buyers are more likely to engage with platforms that offer a rich and comprehensive visual and informational experience.

Five-stage “Content Validation Maturity Model”

To properly assess companies, Membrace has introduced a five-stage "Content Validation Maturity Model." Many businesses are currently at stages one or two, characterized by "reactive manual moderation," where content moderation occurs only in response to customer alerts.

The recommended stage is at least Stage Three, "automated and human moderation," where human expertise collaborates with high-speed, scalable automated solutions.

Stage Five is still aspirational, but our experts believe it should be achieved within a couple of years. It envisions GenAI capable of providing varied and faultless ready-to-use product content from scratch, offering unlimited possibilities for experimentation

Better product content -> growth of key business metrics

As content improves, so does the product experience. According to our data, conversion rates can grow up to 18%, CLTV up to 11%, and GMV up to 14%. Yet, even large marketplaces struggle to deliver the quality and completeness that buyers expect.

Want to read Membrace’s full research report and discover more insights into GenAI’s role in e-commerce? Fill out the form below: