More people are shopping online than ever before and ecommerce businesses face steep competition. When met with the slightest difficulty or friction in the online shopping experience, consumers are likely to look for the same product elsewhere. Furthermore, when consumers face inventory issues or hiccups in the distribution and delivery process, they aren’t likely to return. That is why it’s crucial for ecommerce businesses to adopt the latest technology to improve the customer experience, improve efficiency, and drive revenue. These are the technology trends in ecommerce that we’re leveraging to help our customers improve their platforms and processes.
Better Mobile Shopping
Inside Intelligence predicted that mobile or “mcommerce” sales will account for 43.4% of total retail ecommerce in 2023. With more shoppers making purchases on their mobile devices, it’s imperative that ecommerce businesses provide a seamless mobile experience. Creating a mobile-first web design, providing a hassle free checkout process, or even developing an app are all ways to improve the mobile experience and convert more purchases.
Personalization
The modern consumer has come to expect highly personalized shopping experiences. Product recommendations, tailored promotions or marketing campaigns, and predictive search are just a few features that move consumers towards the checkout page. With recent innovations in AI (artificial intelligence), ecommerce businesses are able to gather large amounts of customer data more quickly, identify patterns more accurately, and adapt to any changes in real time. Using this technology, businesses are able to hone in on specific preferences and behaviors, thus delivering more hyper personalized content and edging out the competition.
Chatbots
According to Gartner, we can expect chatbots to become the primary customer service channel for roughly a quarter of organizations in the next five years. With more people turning to online shopping, chatbots and live chat features are replacing the in-store associate. Powered by AI, chatbots can offer quick, accurate, and personalized support to customers 24 hours a day. Chatbots reduce costs, prevent cart abandonment, and increase customer satisfaction.
Voice Search
Searching for a product has become much easier. NPR’s 2022 Smart Audio Report found that 52% of people using voice assistants put them to use almost daily, or even multiple times a day. Voice assistants and smart speakers have changed the way many people shop and search for specific products. For ecommerce businesses, this opens up opportunities to make personalized up-sell or add-on suggestions to increase cart value.
Payment Flexibility
Ecommerce customers have more options than ever when it comes to payment. These days, there’s more than entering your credit card information. Digital wallets like Apple Pay allow you to pay with just a click of a button. According to Apple, it’s also a safer option as personal information, like a card number and the customer’s identity, are not shared with merchants. Another flexible option taking the ecommerce world by storm is Buy Now, Pay Later (BNPL). The BNPL option, like Klarna, allows customers to pay for products in fixed installments over time rather than all at once.
Supply Chain Optimization
AI has the potential to transform almost every industry across every department. In the modern supply chain, AI is an essential element. Automating backend processes with Robotic Process Automation (RPA), enlisting demand forecasting to make data-backed business decisions, and executing real-time inventory management are all ways that AI optimizes supply chain management. In addition to reduced labor and operating costs, streamlining these backend processes leads to shorter delivery windows and happier customers.
Trust our ecommerce experts to transform your platform, improve the customer experience, and leverage new innovations in technology to drive business forward. Contact us today to get started.
