One cannot ignore the role of technology in E-commerce ever since the dawn of the internet. Currently, however, as per the commercial profile, there are currently 6 kinds of e-commerce.
These are as follows,
All these are based on technologies invested in online transaction processing, mobile commerce, electronic data interchange (EDI), digital marketing, automated data collection systems, and supply management systems.
Currently, the E-commerce industry is growing at a rapid pace of more than 11.9% of sales on a daily basis.
Reviewing the Current Scenario of E-Commerce
Social commerce uses social networks for online shopping transactions. Here brands interact with their customers via social media to develop an interpersonal relationship.
Currently, marketers are aiming to opt for one-click “Buy” button on social media to make marketing easier for both brands and customers. The result of this will lead to a P2P market paces the prime example being Facebook and Instagram.
Omni-Channel is the Innovative Normal
Google claims that 85% of web audience begin their shopping on one social media platform and end it on another platform. This is why most marketers today align online and offline sales. This is called Omni-channel that works to give customers a feeling of shopping from one platform.
In these platforms the details of marketers, advertising concepts and company is reflected in a similar manner.
M-commerce uses the applications of smartphones and devices for the selling and buying of products. The reason being the popularity of mobile shoppers has escalated in the past decades due to new and improved technological devices.
This is why developers are working hard to create the best marketing apps for enhanced user expertise. These apps combine the one-click checkouts, beacons, dash buttons, E-wallets, and new payment integrations to give shoppers an integrated shopping experience.
On this note,
What Does the Future of E-Commerce Store?
An AI-driven software technology that works to imitate real human reactions for conversing with website customers is Chatbots. These offer 24/7 customer service that helps to generate leads, improves traffic, and boost conversions.
Augmented & Virtual Reality
Augmented advertisements work to implement only some virtual elements into the real world. On the other hand, virtual reality builds a completely new artificial reality that works to widen the horizon of online shopping experience.
For example, Audi has bought forward their own augmented reality glasses to design kitchens for looking at their own cars in VR.
Drones & Droids
The future of innovation lies in the vision of droids on the ground with drones in the sky. Now, drone delivery may be difficult to achieve quickly but its perks for retailers are aplenty.
This drone and droid delivery is likely to cut back on logistics costs and embrace pinpoint delivery. This will prove very beneficial for marketers as these would simplify the marketing procedure with the use of sophisticated AI.
Apart from this blockchain technology or cryptocurrency will also help streamline online payment procedure.
On this note, with these interventions and inventions, life of E-commerce will gradually keep escalating towards newer horizons.