Technological changes and trends cover all areas of our life and, of course, even affect e-commerce. Technology offers many new possibilities for both buyers and sellers. Due to the rapid development of technology, everyone benefits – both buyers and sellers. After all, this makes personalized service, round-the-clock support, and other opportunities possible.
The Statista website reports that the e-commerce app market was valued at about $ 5.1 billion in 2018 and is projected to grow to about $ 6.3 billion by 2023.
Why is the e-commerce market share overgrowing?
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It’s all about technology, and that e-commerce companies are constantly looking for more effective business solutions.
What are the ways to use technology in e-commerce?
Artificial intelligence
Forbes writes that Artificial intelligence is one of these technologies seeing more rapid integration, with $ 7.3 billion projected to be spent by retailers in 2022. AI will lead the conversation, direct it to customer needs, and predict their behavior. And offering them products and services before they even know they need them.
1. Chatbots
Assistants who are always online and ready to solve your questions are the way to gain customer loyalty and trust. Any software development company tries to develop a unique chatbot for the needs of each specific business.
By simulating human interaction, chatbots redirect communication according to the interests of customers. More advanced chatbots can even suggest products based on order history and allow you to complete a purchase while on a call.
2. Inventory Management
Inventory management is always a tricky process. However, technology can simplify these tasks and make the complex process more accessible.
Choosing inventory management software can help you eliminate human error. It also saves you time and resources that you would otherwise spend manually entering data.
Using software to track your e-commerce inventory allows you to:
- collect and analyze data that can help you manage inventory levels
- maintain a positive cash flow, avoiding excess inventory and minimizing storage and maintenance costs
3. Delivery
Convenient and fast delivery is an important point that can convince your customers to buy from you. Proactive delivery – when a product is in stock before you place an order – this is even the most demanding customers can appreciate.
Delivery by drones to your doorstep within 30 minutes? It sounds like fantasy, but this is already the reality of our world.
4. Augmented and virtual reality
Augmented and virtual reality is suitable for immersing customers in the world of shopping. For example, Ikea uses these technologies and allows you to create your kitchen using augmented reality glasses.
Audi used it in its showroom to enable shoppers to inspect cars and customize them with a virtual reality headset.
5. Voice assistants
It is another technology that distinguishes the modern world from everything that came before. To meet the needs of potential customers, businesses will need to implement voice trading using voice recognition technology and allow customers to use voice commands to find and buy products online.
Voice assistants like Siri, Amazon Echo, and Google Home are becoming more popular due to the ease of finding and shopping for groceries. To remain successful, e-commerce businesses need to provide this technology and its benefits to attract a new wave of consumers.
Conclusion
With the growth of technology, every business needs to keep up with new products and introduce recent technology trends. However, it would help if you approached this wisely. If you already have an e-commerce site, you can note the tips in this article to make your business more modern and prosperous.
If you are just thinking about creating your e-commerce site, you can search for services of website building. For instance, you can check similar services here https://mlsdev.com/services/web-development to order the creation of an e-commerce site.
Author’s bio: Anastasiia Lastovetska is a technology writer at MLSDev, a software development company that builds web & mobile app solutions from scratch. She researches the area of technology to create great content about app development, UX/UI design, tech & business consulting.
