Not many industries are as constantly changing as the ecommerce sector. Now more than before, merchants are scrambling to create or improve their online stores to meet their target audience’s needs and expectations. While so many things in this line of business are evolving rapidly, some are affecting more enterprises in significant ways than others. And in this post, we’ll cover some top trends transforming the ecommerce industry.
Artificial intelligence is perhaps the most significant technology that has had the greatest impact on the ecommerce industry. With it, online stores can provide automated and more personalized shopping experiences. Moreover, it enables businesses to continuously gather valuable data on consumer behavior and turn them into actionable insights to create brand awareness, encourage sales, and increase revenue. Thus, it’s not surprising that AI in ecommerce is increasingly becoming more common.
Another technology trend that’s gaining a lot of traction in ecommerce businesses is augmented reality. Often referred to as AR, it gives buyers a better view of the products they’re interested in purchasing. It makes a more significant difference than people give credit, especially since customers cannot feel or touch the items when buying over the World Wide Web. It’s a handy tool in the home decor and fashion industries, as they’re allowed to get a much better feel for the products.
People today increasingly rely more on their voice assistants when completing daily tasks. Statistics forecast that 75 percent of households in the United States will have smart speaker products by 2025. As more and more consumers adopt these products, they’ll be more likely to utilize voice searches when shopping online. And the prevalence of voice searches will create more opportunities for ecommerce enterprises regarding content and keywords.
Buyers of every kind, including B2B and B2C, search for custom and personalized experiences when they shop online. Online shops can provide more customized recommendations and comprehensive customer support through the information collected by technologies like artificial intelligence. With individualized on-site experience or personalized marketing, ecommerce businesses can generate more revenue. One study shows at least a 25 percent lift in profit for online retailers leveraging personalization capabilities.
As their name suggests, chatbots primarily interact with users, similar to how sales associates in-store do with customers. Most shoppers today want immediate service. When buying products online, they want to find and purchase the desired items in no more than a couple of clicks. If not, they may get frustrated and leave for another online store. With chatbots, customers can be assisted with their basic needs, saving the company time and money on labor while maintaining a consistently high level of productivity.
There’s an overwhelming number of trends in the ecommerce industry, and the abovementioned trends are just some of the many trends that businesses in the field are increasingly adopting. By staying on top of these trends, you’ll be able to gain a competitive edge and help your business grow.
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