In these times of unprecedented crisis, e-commerce has experienced an incredible boom. Consumers have resorted to online shopping for buying essential commodities and other goods & services. It has become an essential part of our everyday life. E-commerce is transforming the way we interact with brands. It has also changed the way consumers shop.
Like all other industrial sectors, technological advancement has led to some major changes in the e-commerce industry. These e-commerce technology trends have led to ease of access for both buyers and sellers. So, as an e-commerce organization, it is imperative to upgrade to the systems with the latest technologies. This will help an e-commerce organization gain a competitive edge and to satisfy consumer demands.
Below are the top 7 e-commerce technology trends that will continue to affect the digital retail industry:
1. Smartphone Dominates the e-Commerce World
These days, consumers use smartphones not only to make purchases, but also to research about products they want to buy. Every third consumer’s purchase decision is impacted by the research done on mobile.
Thus, mobile optimization of your online store explicitly affects your rank on search engines. Weak mobile-oriented UX will cause the loss of numerous potential customers. Thus, a mobile-friendly user interface is important for better customer experience and improved discovery rate.
2. Mobile Apps and e-Wallet Technology
While mobile optimization will help your e-commerce store attract mobile users, it is not enough for retaining existing customers. Now that most of the consumers, especially Gen Z, shop online, they know the benefits of added security while using e-wallets. Moreover, a mobile wallet helps customers complete their purchases (ease of access and purchase), which makes it one of the crucial e-commerce emerging technologies.
Mobile apps provide an immersive environment for users to spend more time browsing your online store.
3. Subscription Services
Subscription services have a considerable impact on the e-commerce industry. Over-the-top media services are a prime example of how subscription services can create a huge impact on your brand. The latest technology trends suggest that it will continue to emerge as power players in the e-commerce industry.
From personal grooming to work out plans, subscription services are becoming a common aspect of the digital retail market. Additionally, it has solid analytical advantages that help you forecast the costs, revenues, and profit which can lead to business expansion and diversification.
4. Extensive Customization for Personalized Products
Consumers nowadays expect everything to be customized based on their needs and demands. Thanks to the technology at our fingertips, it has made personalized experience possible. Customization is also one of the important components of subscription services, which is another leading e-commerce emerging technology.
Effective personalization can be achieved by understanding consumers’ preferences and behavior. With the use of various e-commerce platforms, store owners can now gather data and insights on consumer preferences and demands, and serve them accordingly. Technologies like Big Data, Artificial Intelligence, and Machine Learning can help you gain more insights and help your business grow.
5. Augmented and Virtual Reality
Augmented Reality (AR) and Virtual Reality (VR) are two e-commerce tech solutions helping e-commerce retailers overcome the biggest challenge. The fact that their customers cannot try and experience the products before buying them can be overcome with the help of these technologies. AR and VR make online shopping immersive, interactive and allows customers to
- Try products like eyewear and fashion clothing
- Place furniture in your room or desired spaces
- Measure the space and see if a piece of furniture fits in, etc. and much more.
These technologies are significantly affecting the customer’s buying decisions and will help enhance your brand’s experience.
6. Image Search
As image resources continue to be the largest medium for online searching, image search technology has turned favorable for e-commerce businesses. E-commerce platforms are now integrating image search technology so that their customers can easily find products they are interested in with better offerings, features, and deals.
7. Voice Search
As more and more consumers are turning to devices such as Google Home and Amazon Echo, voice search is gaining popularity in the e-commerce world. Customers are now more comfortable talking to devices and asking questions or creating a shopping list or playing songs, etc.
Successful voice search strategies require a strong SEO, focusing on product features, review videos, and delivering high-quality customer experience.
All in all,
The future of the e-commerce lies in these technologies. The digital market is changing the way products are displayed and sold. You must consider adapting to these technologies for your e-commerce site. These technologies help you with a better understanding of what your customers’ desire and need.