E-Commerce Technology Continues to Evolve

May 24th 2017, 1:40 by Gabe Gordon
Posted in: Innovations

Technology has changed almost every aspect of today’s generation. Business conferences are carried out online, disaster management, payments and goods and service delivery are also made through the web. With this rapidly growing shift to e-commerce, traditional storefront retailers are becoming increasingly concerned about the future of their business.

Many people are left wondering if e-commerce will take over the retail business and, if so, how soon it will happen. What factors can lead to this? From the many pieces of research that have been conducted, the following trends have seen e-commerce dominate a given percentage of shoppers, and some of the trends are expected to be implemented shortly with the hope of improving the online shopping experience and, thus, attracting even more shoppers.

Use of Chatbots

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A Chatbot is a small computer program that can handle conversations with customers at a human level. Online stores are using this tool to keep their customers engaged throughout their shopping experience. Through chatbots, the customer can get advice on every aspect that relates to the goods they are buying to the payment options available for them. Questions about shipping are also handled professionally through Chatbot. This saves the online store a lot of money that would have been spent on human labor, thus making it possible to supply goods to their customers at a lower price compared to the traditional stores. There are numerous options available in the digital realm, and for some companies this is able to free up capital to offer other features to their customers. Free shipping also becomes achievable, offering a substantial threat to the brick and mortar retail stores.

Use of Drones

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The latest new trend that big online stores like Amazon are working towards is the use of drones to deliver goods to every customer’s door or backyard. With the convenience of drone delivery  coupled with the lower prices that the online shopping stores offer, the number of online shoppers will gradually increase. Technology is already being tested and, if approved by the relevant bodies, e-commerce will take a different shape.

M-commerce

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This is where one buys goods from an online store using a mobile device. With access to smartphones, iPhone, and tablets, people can access all the available online stores and order. It’s become incredibly easy to find everything from general household needs to highly specific items like personalized Limoges Boxes only a click away. The combination of e-commerce with the increase in millennial population dominating workplaces and earning good salaries has changed the business world. M-commerce is only expected to grow bigger with about half of the e-commerce transactions being carried out through mobile.

Growth In E-Wallet Platforms

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The emergence of E-wallet platforms like PayPal that have enabled people across the globe to exchange money as well as pay for goods and services have made it easy for online stores to prospers. With this sector getting more competitors like Apple Pay, the online buying of goods will increase since more security will be enhanced, making it reliable for even small online retailers.

There are always two sides of a coin; while most people have chosen only to see how the e-commerce will kick traditional retailers out of business, other research shows that it will take time if it will ever happen. Mobile Phones in particular have revolutionized online marketplaces, including everything from online shopping to online gambling along the way. A large population of shoppers prefers to go to a physical store so that they can see and touch the goods they are buying. They also do this to avoid the inconveniences that online buying brings like delayed shipping or having to ship back the goods. Among the things that shoppers prefer to buy in a physical store include furniture, footwear and most kitchen appliances.

Most customers appreciate the hybrid store, where one can order an item and later pass by the physical store to pick up the item. This makes it easy even to change the item if it doesn’t meet the needs without having to wait for days.


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