6 Ways Technology Is Improving eCommerce Experiences For Customers
Is there a domain of our modern lives that remains untouched by technology? It’s fair to assume that the majority’s answer to that question would be no. The eCommerce field has recently experienced exponential growth on a global scale. Moreover, the world is now harnessing technology in building and promoting enhanced eCommerce websites.
Besides catering to growing customer demand, technology is a determining factor in the transformation of eCommerce practices. Research from 2015 discovered that only 10% of total sales came in from a smartphone. However, just in the past year, 45% of consumers used their phones to make purchases.
Indeed, consumer behavior is ever-evolving and plays an integral role in the eCommerce landscape. Still, eCommerce and online retail depend highly on technology for their advancement. Down below, we’ll be discussing some ways technology brings improvements in eCommerce.
1. In-Depth Research And Customer Analytics
Modern consumer research for desirable products and suppliers has come a long way, thanks to technology. At times, companies neglect customer messages and feedback and, in turn, incur huge losses in potential conversion from their sites.
AI offers interactive buying experiences. With Artificial Intelligence systems, companies can view the preferences of their customers in real-time and provide them with reliable and specialized shopping experiences. One can take up AI and machine learning courses of in-depth education to get better job offers and work with futuristic technology.
Enter chatbots. Chatbots are one of Artificial Intelligence’s many blessings that promptly help with site queries from customers. Chatbots can mimic human responses to great detail, enabling users to feel comfortable while inquiring about product availability or shipments. Plus, chatbots take no days off and are available for assistance 24/7.
Most eCommerce websites feature older versions of chatbots to welcome site visitors, provide assistance, and forward customer queries to other staff. However, advanced chatbots can detect the visitor’s conversational patterns to provide apt responses.
Also, they help locate the right pages for customers and store individual visitor details. A business can then use these details, such as purchase history, to recommend relevant products. But, customer insights are only one-half of the online retail equation. Sellers on platforms like eBay must research their competitors, and that’s where tools like fastintell come in handy.
2. Better Advertising And Marketing
What do customers want? Reliable suppliers. Where do they go in search of them? Well, search engines seem to be the most commonly traversed road. Google trumps all others when a search is concerned. The most recent innovation in Google’s pocket is machine learning. Right now, this addition is allowing entrepreneurs to reach their target customers.
Another dynamic advertising strategy is Google’s search ads. These pay-per-click advertisements enable marketers to appear at the top of SERPs. Usually, you’d have to go through a trial and error phase to find what suits your target audience. For instance, which titles and SEO keywords offer the highest conversions.
But there’s no need for this phase in search ads. Google’s machine learning technology can single-handedly identify the most suitable combination of titles and descriptions for particular audiences’ varying queries.
Machine learning can be valuable in plenty of other ways,e.g., creating visual search capabilities. Did you know that in time we’ll be using images instead of words to conduct our searches? What a concept! MI tools have the power to detect objects in an image and generate relevant results. So, there’s one more transformation in eCommerce to look forward to.
3. Shopping Through Social Media
As crazy as it may sound, social media has other motives than just entertaining you. It is now a key player in driving purchase decisions. Think about it. Have you never come across ads on social media that felt personally targeted to you or people looking for product recommendations?
Companies smart enough to recognize social media’s value are utilizing it to gain publicity for their brands. Several online retailers have turned to social media apps for promoting their products, for example, online stores. Even big shots like Facebook and Instagram have added a marketplace feature, providing users with a convenient shopping experience. Do you want to know the best marketing approach? It involves ensuring a flow of optimized social media posts so you can engage your target customer’s attention.
4. Instant Payments
It wouldn’t be wrong to say that technology has completely reshaped business payments. People are now waking up to the numerous benefits that digital currencies such as Bitcoin offer.
Bitcoin is a cryptocurrency working under a blockchain network. Hence, it is less risky because an individual doesn’t have exclusive access to transactional data. And it is faster as it doesn’t involve an intermediary, aka banking institutions.
So, how does that translate in eCommerce? It meansinstant transactions, reducing the delay time between product payments and shipments. Since most people nowadays prefer same-day delivery and shipping, flexible payment options can be highly profitable. Besides being cost-effective, digital payments bear no hidden charges and are more secure.
5. Augmented Reality
Augmented reality is the latest and most exciting development in the eCommerce world so far. According to tech experts, AR will provide a more personalized shopping experience to future buyers and give eCommerce a 360° transformation.
Combining augmented reality with eCommerce allows sellers to gain a significant edge over their competitors, boost conversion rates, increase sales, and earn higher profits. Major companies, for instance, Toyota and IKEA, are already harnessing this technology so buyers can view their products in real-time and make better buying decisions.
Augmented reality supplements eCommerce with the try-before-you-buy feature it has been unable to provide its customers. This technology helps eCommerce successfully recreate the only remaining benefit of conventional shopping. Is it too far-fetched to assume that online retail might just become the new norm?
6. Improved Supply Chain Management
The consumers of today want it all, and they want it now! Their sky-high expectations also include hassle-free service and lightning-fast shipping. So, regardless of the business niche, most online retailers have to up their game with supply chain management. Every day, online retailers continue to employ more and more complex tech stacks for their businesses. The reason? Efficient supply chain management is directly proportional to better technology and more integrations.
Cloud-based systems help eCommerce retailers minimize shipping expenses, streamline logistics, and efficiently manage customer and supplier returns.
Any wise buyer/seller would consider transparency an indispensable business element. It’s not unusual for customers to demand real-time order tracking until their order materializes from their screens and into their hands. Suppose you’re an online retailer. Imagine you don’t possess the technology for multi-warehouse, multi-store, and multi-user supply chain management. In that scenario, you will be missing out on realizing your full potential in terms of sales, profits, and customer retention.
Wrapping It Up
In our modern world, consumerism rules. Consumer behavior relies heavily on technological advancements, along with a mentality of greater convenience. This article discussed some ways that technology is driving change in the world of eCommerce. These include social media shopping, augmented reality, customer analytics, and faster payment options.
The mutual consensus among experts is that technology will continue to grow and will continue to induce newer consumption patterns. Here’s to an unprecedented future!
