eCommerce spending reached over $1 trillion in 2022. The industry is ever-growing and expanding to both new markets and new products. It’s a demanding environment to compete in. That’s why ecommerce companies need to embrace the technology trends shaping the industry.
Most ecommerce challenges that online sales businesses face require the use of the latest digital solutions. These aren’t mere fads in the industry, but useful tools you can use to improve your customer experience and lighten the workload.
The latest digital solutions an ecommerce business should use are:
Artificial Intelligence (AI) and Machine Learning (ML)
AI chatbots play a few important roles both when it comes to client experience and the backend of ecommerce business. They can help retailers personalize customer experiences and automate tasks. AI also provides predictive analytics for better decision-making.
The technology is still somewhat new. Using it comes with the added benefit of helping your business appear forward-looking and innovative. AI will also train itself and get better, the more customers interact with it.
Voice Commerce
Now that voice assistants have become popular if not commonplace, an ecommerce business should take advantage of the opportunity. The main advantage of shopping this way is the ease and convenience for the customer. It also helps the ecommerce business in the long run.
Voice assistants make it easier to personalize the shopping experience. That way there are less points of friction for the buyer. In the long run, all these features lower the cost of sale and thus the price of your products.
A Subscription-based Model
Most ecommerce businesses are looking for ways to provide a continuous stream of products or services for a monthly or annual fee. That way you can count on predictable and stable income streams instead of just one-off sales.
This model is also better for buyers since it provides a consistent, hassle-free experience that keeps customers engaged on an ongoing basis. The key is that the customer gets more from a subscription than they would from a series of individual purchases.
Augmented Reality
Augmented reality (AR) technology is expanding exponentially. Many ecommerce businesses already apply it to improve customer experience. The technology streamlines the customer experience by providing the buyer with prices, reviews, as well as alternative and suggested products.
AR especially helps with visualizing the product before buying. For instance, a furniture retailer can show how a couch will look in a buyer’s home. It also allows the buyer to try out different colors or lighting before making a call and purchasing the couch.
Social Media eCommerce
Most social media sites allow users to shop using their own platforms. That way a buyer can use a chat to order and pay for an item they’ve seen on their social media feed. It’s quick and seamless and most eCommerce platforms should integrate it with their digital shopping solutions.
In general, eCommerce businesses are moving towards an omnichannel approach to online shopping. It allows the buyers to purchase items, using websites, social media, as well as brick and mortar shops all with a single account and equally safe.
eCommerce businesses need to keep up to date with the latest digital and tech trends. These will keep them on the cutting edge of the industry and help them improve the customer experience at the same time.
