Our motive is to establish our business in the city of Istanbul, Turkey because we know that it is highly advanced technologically, as compared to the rest of Turkey. Last year, “Istanbul hosted an event, Digital Retail Summit 2019, to discuss digital technologies, such as big data, internet of things (IoT) and artificial intelligence (AI), in the retail trade sector” (Ergocun, 2019). Technology experts from both local and international companies attended this summit and this whole event was organized by the International Data Corporation (IDC) which is a renowned IT advisory company. Ayse Kaptanoglu, IDC’s research manager revealed that in Turkey, “over half of IT companies use IoT, AI, virtual reality and big data analytics,” and she added that, “AI raises companies’ incomes 20%, while IoT and real-time analysis increase customers’ satisfaction 15%,” (Ergocun, 2019). Along with this, we plan to ultimately generate revenue by providing a satisfying online shopping experience for customers and that is one of our goals for Modest Beauty.
The most interesting thing Kaptanoglu revealed was that “big data and AI reduce company losses 40%” (Ergocun, 2019). This is something we will be focusing on in our online international business since nowadays passwords are no longer safe as anyone can decode them easily and make purchases on behalf of the real user. Our website can be used on cross platforms (on a desktop, tablet, or a mobile phone and will also be connected with social media apps) and as in Turkey about “96% of the population now owns a mobile phone,” we will guarantee our online shoppers with the highest level of security by keeping an AI facial recognition feature to log in to our Modest Beauty online international store website (THO, 2020). This feature will thus keep our website user’s purchase information such as card details and shipping address safe and hence we will be providing our clients with a satisfying and safe online shopping experience while making sales.
Page Author: Musarat Merchant
