Top 5 E-Commerce Tech Trends Paving The Way For Online Retail
The advancement in technology has efficiently aided in the boost of the e-commerce industry. As the industry is witnessing a global resurgence, it has grown to become a million-billion industry, with sales hitting the roof every year. The easy access to internet services has also nourished the e-commerce sector with many retail stores opting for digital transformation. Pandemic is another factor that has pushed the led to a surge in e-commerce and accelerated the rate of digital transformation. It is to be noted that the online sector is always changing and every year some big trends take the spotlight.
With businessmen and e-commerce giants competing in a passive-aggressive competition to rise as the best, the dynamic of technology is also changing constantly giving rise to numerous tech trends. While the entire online sector is evolving, not all tech trends succeed in shaping the industry. Of course, innovations and technology creations give rise to new trends now and then, however, as mentioned only a few create an impactful ground. After doing a detailed analysis we have brought a list of the top 5 e-commerce tech trends that enhanced the online retail sector. So, let’s explore the best 5 hottest tech trends and see where things are headed for online sectors.
1. Augmented Reality (AR)
Augmented Reality (AR) has been the biggest game-changer for the e-commerce industry as it offers customers in-depth knowledge and complete information about products from the comfort of their spaces. As there is a lack of full sensory product experience in online shopping as compared to that of retail store shopping, that’s the biggest downside of e-commerce. And even though consumers have gotten used to the gadgets-based shopping experiences, our consciousness still demands more contextual information, at least for some products. And the advent of AR applications fills up that hole.
AR allows online shoppers to preview products and services they are purchasing in the comfort of their environment and time flexibility. It has completely enhanced the shopping experience as shoppers can now virtually try on the products before making a purchase. This way it helps consumers to understand what they are buying and if the investment is worthy or not. The application is available in a wide range of categories like clothing, makeup, jewelry, and sunglasses. Besides this, AR also fetches preview placements which involve virtually placing bigger items like sofas, TVs, and couches to get a glimpse of what the products will look like when placed in their home spaces.
2. Artificial Intelligence (AI)
When someone says ‘Artificial Intelligence’ we usually tend to imagine human-like robots with the ability to learn just about anything, the ability to solve problems in seconds, the ability to use numerous languages, and the ability to formulate intellectual ideas. However, even though robotics has progressed greatly, there is nowhere they have achieved such a level of Artificial Intelligence.
AI in online shopping involves machine learning technologies and algorithms that help create an automated and personalized shopping experience. AI continuously collects data on the entire process of the online shopping process. From the point of looking for a product or service to the point when they purchase e-commerce websites. These collected data are then used to improve product selection, and customer experience and optimize logistics. So, overall AI in combination with machine learning is a great foundation for the e-commerce industry. It is also a technology that cannot be replicated in offline retail.
3. Digital Payments
Customers have individual payment preferences when shopping online, so it’s necessary to have all the payment methods accessible on e-commerce platforms because shoppers might cancel a purchase if the desired payment option is not at hand. So, offering abundant payment options is an excellent way to increase conversion rates and eliminate potential sale loss. Digital payment also provides convenience, and of course, security is kept as a prime focus so that customers feel secure. The use of payment methods like banking cards, UPI, mobile wallets, AEPS, Internet banking, mobile banking, etc have created a digitally empowered economy. Gone are the days when people used to carry stacks of money in their wallets or when making a big purchase meant immediately running to the nearest banks. The world as a whole is going faceless, paperless, and cashless.
Besides that, customers also make use of digital coupon codes and vouchers when shopping online. These vouchers and coupon codes come in handy at the checkout, using which shoppers get discounts on their respective purchases. Various online stores offer such coupon codes to incite new customers and encourage old customers to purchase from their websites. Stores like 6th street and Carrefour are providing voucher codes like the 6th street code and Carrefour Promo Code to their shoppers. Likewise, consumers can get easy access to such discount codes by using search engine tools like Google search. There are also coupon sites and chrome browser extensions like CouponCodesME and CouponBot that help to find verified working coupons.
4. Voice Search Engine
People not only own smart gadgets, but they also heavily rely on voice assistance to have their daily tasks completed. As customers are adopting more and more smart speakers, using voice search in e-commerce stores will enable them to search for the products solely using their voices instead of manually searching for them. As we are living in a world of convenience, we often want to increase the convenience level, especially when you have a busy life and often have to multitask to maintain a balance. So, using your voice to make a command of finding you the best laptop or a budget wireless mouse with the best customer rating is an added convenience. Voice-enabled shopping trends have witnessed some huge transactions in the past few years and based on analysts at Juniper Research it’s bound to grow and cross 80$ billion per year in the next two years.
The online shopping experience shouldn’t just be about looking for a product and making a purchase, it is also about providing good customer service that could immediately satisfy any need, answer any query, and clear any frustrations at every stage of their journey. There is where the chatbot enters to save the sale. Through chatbots interacting with customers becomes easier, just like interacting with any off-retail store sales associate. As chatbots have become one of the most important marketing tools, they are a raging entity for customer support in the e-commerce sector. And if a shopper is showing any behavior indicating product or service return, e-commerce chatbots usually intervene to prevent it. Chatbots don’t have to live on live chats, but can also interact with customers on other platforms like social media, mobile applications, web extensions, email, SMS, and even voice platforms. Crisp’s chatbot editor allows you to build a chatbot for each of your customer channels using a single chatbot script – allowing for flexibility and scalability.
These tech trends are impactful and have shaped the e-commerce sector with their powerful influences. It is to be noted that the advancement in technology is the key factor to why these trends exist in the first place. However, these trends don’t have a limit. As a collaboration of technology and in-depth knowledge continues to grow, newer trends will rise and will replace the older ones.