The short answer is yes. The more relevant question is how. Let's tackle this question in an unconventional way, focusing on the customers instead of the retailers for now. We all experienced, while shopping online, struggling finding the right key words in order to optimise the results. Indeed, nobody likes going through pages and pages of irrelevant results. Shopping is for most people a visual experience.
Deep learning has had plenty success in applied AI in recent years, classifying images (Pinterest's style) to enhance customers experience. Another example is Camfind, an app which allows users to take pictures of things they like (in store or even on the street) and makes those pictures shoppable online using analytics. Companies such as Optimizely uses AI technologies which can help any business to improve their websites and more importantly contents.
This is just the start of a new era. We find this topic fascinating. The possibilities are endless and we therefor encourage yourself in digging further into this topic by visiting the following links