With the eCommerce world booming, there is no better time to adopt new technologies that improve your customer experience and help you grow than now. But which technologies should you be watching? And what are the major trends driving these innovations? Undoubtedly adopting new technology helps this industry to grow and flourish, creating new opportunities, markets, and business models.
With advancements in eCommerce technologies, retailers can better engage with their customers within a contextually relevant environment. It also helps existing players to differentiate themselves from their competitors and establish themselves as market leaders.
Check out these top 10 lists of trending technologies taking over eCommerce.
Artificial Intelligence (AI)
This technology is transforming the eCommerce world by allowing you to automate specific tasks that would otherwise require human intervention and effort. As a result, AI plays a significant role in making shopping more convenient for consumers.
AI can help you understand consumer behavior and make better decisions about what products you should stock and where they should be located in physical stores. In addition, more retailers are using AI to improve their customer experience by implementing sentiment analysis, facial recognition, and other tools that help companies engage with customers in real time.
Blockchain Technology
This electronic ledger records transactions across many computers in a distributed network.
Although this technology has been around for a while, it recently gained traction in eCommerce. Blockchain is a decentralized database that allows information to be stored securely, which makes it virtually impossible to hack or tamper with.
It has been widely used in cryptocurrency transactions, but its potential applications go far beyond digital money. For example, blockchain can be used to create tamper-proof digital records of transactions between buyers and sellers.
Mercari
This is a peer-to-peer marketplace for buying and selling secondhand items. The app has over 20 million users in Japan and is becoming more popular in the US.
Users list items they want to sell in their area, and buyers browse the listings and make offers on them. In addition, the app makes it easy to interact with sellers. It allows you to communicate with them through direct messaging or by commenting on their posts.
Mercari is great for people who want to buy or sell electronics, clothes, shoes, toys, jewelry, etc.
Chatbots
The rise of chatbots is transforming customer service and creating new business opportunities. As a result, businesses can offer 24/7 customer service without hiring more staff.
They enable customers to ask questions about products and services or schedule an appointment with a company representative. In addition, they let you interact with companies via text messages or voice commands.
Mobile Apps
These apps make it easy for shoppers to browse, buy products, track orders, and manage customer accounts. And they also offer live chat support and other customer service functions.
Mobile apps work best when they are tailored for a specific purpose. For example, an online retailer might use a mobile app to help people find store items or scan products to add them automatically to the shopping cart.
Smartphone applications have grown in recent years due to smartphone usage increasing worldwide. According to research on smartphone statistics, by the end of 2020, 78 percent of the world’s population owned smartphones, and the percentage is expected to increase by 2027. In addition, these apps make shopping more accessible because you don’t have to navigate a website on your computer.
Voice Assistant
There is an increase in their use of eCommerce. They allow you to do everything from ordering pizza to shopping for clothes without having to touch the keyboard. While this technology is new, it’s growing fast and changing how people shop online.
This innovation is transforming the way we interact with technology. For example, you can now ask Amazon Alexa, Google Home, or another voice assistant to make an order for you, play a song on Spotify, or turn on your smart lights and they’ll do it.
Augmented Reality
In the world of eCommerce, augmented reality (AR) is one of the most exciting new technologies on the market today, and it’s already having a huge impact on eCommerce. AR allows you to see how an item will look in your home before you buy it.
It helps you visualize products in a way that makes shopping more accessible and enjoyable. It’s also making shopping more social by letting users share what they see through social media or messaging apps.
AR has been around for a while, but it has only recently become affordable enough for businesses to implement in their marketing campaigns.
Social Media Marketing
This is a powerful tool for SME businesses. It’s free and easy to use but has huge potential for growth and exposure. If you’re not using social media marketing, it’s time to learn how to improve your sales using this marketing strategy.
Social media marketing allows businesses to advertise their products or services using social media platforms such as Facebook and Instagram.
Businesses can create ads on these platforms that target people based on their interests or demographics. This form of marketing has become increasingly popular as it is more affordable than traditional advertising, like television commercials or newspaper ads.
Internet of Things (IoT)
This network links physical objects using sensors and software to share information about devices, people, and surroundings. IoT is already being used to transform businesses across all industries, including eCommerce.
For example, IoT can help retailers create more personalized customer experiences by gathering data on their preferences and buying habits. It can also help outsource certain functions like inventory management and order processing to third-party providers through the cloud, so they don’t have to invest in new equipment or hire additional staff members.
Establishing a strong brand is what it takes to stay ahead in the ever-growing eCommerce business. As a business, you should stay ahead of the trends and technology elements to stay afloat and stand out.
The eCommerce market is changing daily due to advances in technology and the increase in the digital preferences of consumers. These changes profoundly impact consumers purchasing decisions.
