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11 Technology Trends Shaping the Ecommerce Industry

If the pandemic affairs have taught us something, it is the call for a quick hinge to online marketing and sales plans in uncertain times. Businesses around the world have evolved their strategies. Physical events, in-person sales meetings, and physical trade shows are losing significance. However, due to such doubtful and risky situations, sales and marketing strategies have been negatively affected. 

But even when the world is facing its worst economic conditions, the boom in e-commerce websites’ traffic has saved many businesses. The new normal shopping trend has become popular among consumers and saved several temporary closed stores from going bankrupt. 

Due to technological advancements and the worldwide situation, e-commerce has become an essential solution to meet people’s purchasing needs. With faster and more accessible technology, customers can buy anything with just a click of a button to satisfy their needs.

Below are some of the significant technology trends that are contributing to shaping the e-commerce industry.

Often known as the ‘mobile wallet,’ eWallet can provide convenience and safety to customers. Not only does the eWallet contribute to increasing conversion rates and boosting sales for merchants. It also provides additional security as customers do not have to give their credit card information on websites or cashiers. Besides, for a better experience, it requires dual verification before use.

  • Customization for Better Customer Experience

With increasing trends and technology, consumers expect better quality and customizable products. For a high-quality customer experience, brands can provide an option for customizing and personalizing the products online. The brand perception develops positively when a brand enables control to the customers for product creation. That, in return, boosts customer loyalty and satisfaction resulting in higher profits.

  • Relevant Blog Posts

Blog posts have become famous for attracting consumers to the e-commerce site. Now a question that arises is how to find blog post ideas that help build a prominent brand? 

To ensure high-quality and relevant blog posts, try to find the brand’s target audience’s current interests and activities. Try to create engaging content that grabs attention and makes people read it. Another solution to make content captivating for people is to analyze the former favorite posts and interests. Studying your consumer’s interests can help the e-commerce business to form content that is useful and important for the people.

  • Online Subscription Services

Online subscription services have been influencing the e-commerce industry for a while. Some examples of online subscriptions include Netflix and Amazon Prime, which have been operating for years now. However, personalized subscription services will appear as power players according to e-commerce technology trends. Subscription services have become popular in the digital retail industry, such as fashion, entertainment, homemade meals, and personal grooming. The reason for its popularity also includes fulfilling the needs of both providers and consumers.

  • Significance of Social Media 

The experiment of Instagram, which includes supporting e-commerce businesses, has given favorable results. The platform now provides in-app payments when formerly it was only redirecting customers to check out pages. E-commerce marketers should take necessary actions to benefit their business. It is now mandatory for almost every company/brand to have a social media account on every app. It also provides doors towards hosting transactions and ease by connecting customers with brands.

  • Growing Technology of Voice Search Assistance

People have now become dependent on voice assistants even for completing basic tasks. According to a study, by 2025, 75% of the homes in the U.S. will own voice assistant gadgets.

More smart speakers indicate more voice assistants to buy online, organize lives, and order food. Therefore, an increase in voice search gadgets serves as an opportunity for the e-commerce business.

  • Chatbots Convenience

Just like in-store salesperson interacts with customers, in the same way, chatbots communicate with online shoppers. Research suggests that in 2020, 80% of businesses used chatbots to interact with consumers online. 

Today’s consumers want convenience with just a few clicks. That is how chatbots can play an essential role in serving customers. Chatbots are very popular in the present world’s customer support. They have also changed the behavior of online shoppers and have become an essential marketing tool. 

  • Supply Chain Management

Critical supply chain operations like inventory management systems and distribution are increasing among the e-commerce industry. Therefore, adaptive, self-learning, intelligent and predictive supply chains are in great demand. Undeniably, robust supply chain management results in personalized and improved customer service. The supply chain management systems and applications improve performance, manages risk, and increases customer loyalty and trust.

  • Gamification in Online Stores

Shopping online may turn into a boring experience for some. So the idea of gamification in online shopping encourages customers to spend more cash and engage in return for additional benefits. The most common ways of gamification include VIP loyalty programs, promotional contests, and spin-to-win games. The inclusion of AR and VR is significantly aiding gamification processes in the retail sector. 

  • Image Search Advancement

For a better user experience, e-commerce businesses are combining image search technology. The image search upgrade allows customers to take pictures of the products they find interesting and find homogenous product variety with better deals.

For example, a customer wants to purchase a chair, but it is high priced for them. If the e-commerce business has image search technology, it allows a customer to make a quick purchase.

  • Easier Checkout Process

The most stressful reason for losing a sale includes card abandonment. It indicates that a user changed their mind last minute while buying the product. Research suggests that 79% of the carts are abandoned worldwide, which specifies it as a big problem.

The checkout procedure is one of the reasons why customers abandon their carts. Inefficient and complex checkout procedures lead to an abandonment of carts. Thus, adopt technology to make the checkout fast and efficient, which also boosts the business. Some of the checkout solutions include:

  • Enable the customer to save their address and card details in case of repeated purchase
  • Quick mobile payment methods such as Android and Apple pay
  • Offering a variety of payment methods
  • Provide quick one-page checkouts

Conclusion

Several e-commerce websites took advantage of the industry’s boom by using technology and have now become successful. Don’t waste the opportunity to analyze new technologies and provide fast and improved service to your customers. Keeping up with trends and technology helps businesses to reap benefits. Consequently, companies can identify the areas where they can deploy more efficient technological systems and make operations smoother. 

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Editor

Editorial Staff at TechWaver is determined to inform their users regarding the latest tech news, tips & hacks, software & product reviews, and much useful information from all over the world.

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