Business November 20, 2018 Last updated November 20th, 2018 192 Reads share

How Technology Will Change Future of E-commerce for Next Decade

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New technologies are constantly entering the e-commerce market with new directions, dimensions, and promises. If you get an acknowledgment of all, you can shape a prosperous future for your e-commerce too by making the right decisions of integrations.

Gradual penetration of smartphones and tablets in our lives have made revolutionary changes the way how we perform the day-to-day tasks. On an average Americans are spending five hours in a day on the smart devices. Technological advancements in gadgets, Internet access, and other areas have made our life easy, comfortable, and highly productive.

Shopping is no more a daunting task to roam here-and-there spending fuel, time, and ending with limited options. We have a wide horizon to wander among hundreds of virtual shops on the web and compare the top products with the best bargaining options.

Until to date, we have tasted sweet fruits of computer and mobile revolutions for e-commerce. Now, myriads of upcoming technologies in diverse areas are waiting to shape an astounding future of eCommerce for next generations of human beings. Let me give a glimpse of tech sparkling briefly.

Active Shopping Experiences:

Previously, we were doing a passive shopping on the web where we surf the catalog, examine products through still images and texts, go through the checkout process and finally, done.

  • Today, e-commerce merchants have real-time analytics software to know all possible details of online visitors of the shop immediately upon arrival.
  • Artificial Intelligent powered Chatbot like assistance to provide in-person experiences to e-commerce visitors.
  • Personalization engines to offer highly personalized product recommendations, personalized engagement through real-time popups, and marketing incentives based on a shopping history of repeat shoppers.
  • Getting and collecting personalized feedback of shoppers in real-time as well as after accomplishing shopping via rating and review popups.
  • Personalized shopping cart with cross-selling, upselling, and other shopping cart features for quick checkout, real-time shipping updates, and a lot of personalized advantages.
  • Real-time social media access throughout the shopping process to leverage social sharing and other social media advantages like social chats, social recommendation, social opinions, and social payment. It is everything for deep engagement.

In short, we are heading towards a future where a line between online and offline shopping experiences will blur. In coming years, we will fill in online shopping that a salesperson is standing in front of us and attending actively our all queries, our hidden expectations, and respecting our shopping habits carefully that we used to feel in real-world brick-and-mortar shopping.

Smart Predictions for Ecommerce Merchants

Inventory management for any online merchant is a headache and vital for the success of eCommerce business. If you invest in trendy items, you can get a quick and good return, but you make wrong decisions, chances are dead accumulation inventory in warehouses and mounting interests in financial loans or shortage of investment when the stock of an essential product is getting fast drain.

We can get smart predictions of market trends through multiple channels, such as consumer data, social media data, surveys, and from financial institutions. Our e-commerce store can collect customer data. We can aggregate those data coming from various channels and analyzed a heap of structured and unstructured data using the latest Big Data technologies.

Smart predictions through Big Data enable e-commerce industry to do effective inventory management, announcing precise incentives, and invest in right channels of marketing.

Superfast Delivery of Ecommerce Products

Once an online customer is finishing payment, the next step is to wait for the delivery. Most of the order and shipping management software/modules are trying to engage shoppers in order tracking and knowing real-time shipping status to save from the customers from to be impatience and cancellation of the order.

Considering this buying behavior, the majority of e-commerce giants including Amazon are in a process to advance their delivery technologies including implementation of Drones to provide delivery within one or half hour. Others are looking at various logistics options to gain competitive advantages of fast delivery.

IoT Phenomena

Internet of Things (IoT) is emerging as a revolutionary technology for e-commerce too. To empower eCommerce for automated order collection from the non-human entities, IoT is an excellent way.

Recently, Amazon has introduced ‘Dash Button,’ and it is IoT-powered. Thus, your pantry will order the items depleting in the stock. The same is possible at a commercial level where a production/manufacturing unit can issue orders directly or ask the permission of the management electronically.

Also a lot of Drone authorities such as Half Chrome Drones are predicting drone delivery in the US by 2020

Cryptocurrency Payment

Payments and exchanges with fiat currencies are a bit longer and costlier option against fully digitalized Cryptocurrencies. The trends of e-commerce payment with Bitcoin like Blockchain-based technologies seem secure, straightforward and cheaper option for modern shoppers.

Shoppers are getting familiarity with Cryptocurrency usage, and e-commerce stores are showing great adoption for the payment. Thus, one-day it will become a norm in the future e-commerce industry.

AR & VR Aids in E-commerce

Virtual Reality and Augmented Reality are emerging technologies to help e-commerce in innovative ways. For instance, virtual dressing room eliminate needs of in-person visits for certain types of fashion and clothing e-commerce purchases.

Customizing products using various product attributes in AR environment can boost orders a lot.

Conclusion:

A lot of emerging technologies are knocking the door of eCommerce merchants to invest in, but what applies to your e-commerce and how much return is possible is a matter of investigation.

Busy eCommerce merchants hardly take risks of shooting in the dark whenever an integration of new technology is in question. They used to look for expert advice, and Magneto IT Solutions, a Leading Magento Development Company provide you with the right insights for the implementations of any emerging technology trend.

Would you like to step ahead for a new adventure on your eCommerce storefront? Let’s discuss it.

Ronak Meghani

Ronak Meghani

Ronak Meghani is a co-founder of Magneto IT Solutions Pvt. Ltd., A Leading eCommerce Development Company in USA and India. He is closely working with e-Commerce ventures since 2009 and He has helped 200+ brands for building/improving their online ventures in the area of UI/ UX, Development, Launching, Revenue Enhancement, Marketing strategy, and much more and 90% stores are generating very good revenue.

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