Top Emerging Technological Innovations in Ecommerce

Internet and technology boost the B2B e-commerce future dramatically. Gradually but noticeably, companies have evolved to accept e-commerce as a viable growth channel. Reputable predictors forecast the e-commerce industry to be worth $6.54 trillion in 2022. Customers prefer to shop online because it’s convenient and cost-effective. Many positive trends support the growth of this vibrant industry.

Industry experts predict customer experience to dominate the e-commerce future technology sphere. By customizing services, businesses reach the audience on any device that creates a smooth customer experience for them. 76% of buyers view personalization as a true testament to how much the brand values them.

64% of users use their mobiles to make payments to stores. Another important e-commerce future technology is the use of e-wallet apps to ease payments. Companies can no longer just focus on mobile optimization and get away with it. They also need to integrate their interfaces with a helpful mobile wallet feature. Online shoppers wanting convenient and secure payment options opt for e-wallet payments. Adding e-wallet options may improve your conversion rates significantly.

The percentage of mobile traffic grew by 222 percent from 2013 to 2019. A great way to attract and retain this traffic is to launch an interactive mobile app that complements your website in engagement and sales. Also, building an app interface allows an easier shopping experience where your users can browse and shortlist their items effectively. Having the information about their products helps you create customized campaigns to compel them to buy.

Big Data Analytics elevates the industry by providing accurate e-commerce future predictions. Choosing big data analytics helps companies track the user buying experience to improve engagement and convert more clients. Furthermore, this technology makes precise e-commerce predictions for the future based on reliable data that it collects from your users intuitively. Analytics also aids optimal price formulation and targeted service improvements to boost sales. So, use analytics to recognize your business’s best and worst elements and improve accordingly to serve your customers well.  A proven long-term benefit would be to train your team on a Big Data Analytics Training Program.

A Gartner study predicts by 2020, customers will manage 85% of their business relationships without interacting with a human. Artificial Intelligence (AI) dramatically changes the e-commerce industry by influencing each facet of business operations. AI helps e-commerce by providing better search results through Natural Language Processing (NLP).

63% of online shoppers believe AR improves their site purchases. Modern brands use AR to elevate the shopping experience and boost overall sales. AR helps customers visualize ideas of different custom products before they place their order. AR also keeps in line with the popular trend of personalization by helping buyers decide better. For example, Ikea’s app helps buyers see how Ikea furniture looks in their homes. Shoppers using Sephora can try out different products before buying. Apart from visualization, fashion websites use AR to provide a virtual stylist that helps pick out items according to the buyer’s style.

87% of online shoppers believe social media helps them decide their purchases. With higher social media consumption, brands are switching to popular social media tools to reach out to their target audience. Many platforms provide link embedding features to boost sales through social media. You can take advantage of impulse buying behavior through these advertising tactics. Additionally, brands can sponsor social media influencers to create a great impression and grow business organically.