2021 has been a year of immense growth for e-commerce. The dire need for making certain things available to customers online during the pandemic has caused a rapid increase in creating solutions, which involve the heavy use of technology and innovation. Here is how technology has helped the e-commerce industry in recent years.
Mobile phones have had a great impact on the e commerce industry. With so much technological advancement, no one has the time to open their computers, go online and make a purchase. Even if you have the best online store people would rather choose convenience and buy from a store that has a mobile-friendly user interface as they can shop online when they do not have access to their laptops or computers. Mobile phones have become a necessity in our life instead of a luxury. Social media is also more accessible on mobile phone. It has also become easier for businesses to market to customers to social media.
E-wallet is a good technological advancement that has given a boost to the e-commerce industry. E-wallet is a quick mode for transaction of money and allows customers to send and receive through electronic gadgets and devices. This is a quick and convenient option as compared to other forms of payment, which is the reason for its wide spread use in the US. The procedure is simple and easy, so you do not have to fret about learning a new system.
E-commerce subscription services are a recent advancement that have gained popularity very quickly. E-commerce companies offer these services to send you stuff on a weekly or monthly basis once you pay a subscription fee. Subscription services are of three types: replenishment, curation, and access. The advantage of these subscription services is that customers can try out new products instead of sticking to one. This makes it extremely attractive for customers.
With increase in technology, product customization has become easier. This is a great attraction for customers. E-commerce makes it easier for customers to customize a product according to their needs. More involvement of customers in the creation process leads to higher engagement and customer loyalty plus it becomes the driving force for innovative ideas.
Personalized Product Suggestions
With technological advancement, it has become easier to keep up with what your customer likes, dislikes, and purchases. A company can note this easily and make personalized suggestions to generate more sales. This is a win-win situation for both a company and customers. A customer does not have to go through extensive research to get what they want and a company does not have to put excessive effort to understand each customers need. The technological system has advanced enough that it can save customer details on what they have bought in the past, and what is a part of their wish list, so that they can make recommendations to customers for the future.
There were days when things like online furniture shopping could not have been imagined. However, gone are those days now. Virtual reality has allowed customers to see how certain furniture is going to look in their room. Similarly, other products like home lighting, hair care products, glasses all have made their way to the e-commerce market by allowing customers to try out and see if a certain thing complements before they finally buy it.
Better Customer Service
Customer service is an essential part of a business. With technological enhancement many e-commerce companies use cognitive supply chain management. This means that supply chains are more intelligent, predictive, and self-learning. This consequently leads to a better customer service.
Shopping While You Game
With promotional contests, giveaways, and loyalty programs shopping has turned into a game, which makes it more interesting. This has become possible because technology has allowed us to collect and manage data without the need of human interference. This also becomes motivating for customers to try new products. For example, buying a certain item may earn you points, which you can collectively redeem for something else in the future.
Technology has become so convenient that we can now replace typing out a certain query with a mere voice command. With Siri and Alexa, we can now just use our voices to search, browse and buy products from a website. Voice assistants are an enhanced feature that you can also use to operate your smart devices like a Smart Home Thermostat.
Technology has no doubt influenced the e-commerce industry quickly and positively. However, we should still always be careful while purchasing online as cyber security is a real issue. We should not take these advancements for granted and always make responsible use of the internet.