What is E-commerce?
Everybody must have heard about E-commerce. It’s the exemplary creation of a human mind. It shouldn’t be tough to understand why the world is going gaga over it. Still just in case, one isn’t aware of what exactly E-commerce means then let me tell you that it refers to the process of buying and selling of services and goods online as well as the transfer of the required data and money to execute these transactions. The beauty of e-commerce is that you can save your penny through the amazing deals and discounts available on various sites like curateddeals, groupon etc. But finding those deals is really a tough job where you should be smart enough to pick the best one out of all.
E-commerce Meets Technology
While E-commerce is the man made boon to its own existence but it’s their another creation which makes it the “Apple of the Eye” for both customers and sellers and that is Technology. Without technology is just another store in the corner of your street. From mobile commerce, supply chain management, electronic funds transfer, internet marketing, online transaction processing, inventory management systems, automated data collection systems, electronic data interchange (EDI).
How Technology is empowering E-commerce
The impact of technology on ecommerce is getting faster day by day. From finding the required products at best available deal to easily tracking your orders online, technology has turned ecommerce into a giant it is today. You can easily get your favorite pair of shoes etc from your favorite brands with just a few clicks. And with advanced technologies emerging rapidly, ecommerce business is only going to reach new heights of success in coming years. Customers can buy anything in no time thanks to the latest technology.
So, how exactly is technology boosting ecommerce? Read below a detailed assessment to understand:
- Omni channel Support
This is a multi-channel way to seek sales to provide customers with a hassle free experience. So, be it shopping on mobile or your computer desktop no more customers will have any trouble while shopping. In otherwise these are simply the modern habits involving cross channel research, consideration and purchase. Even statistics confirms that most customers expect this to have a seamless interactions across multiple devices and channels. Few ways to achieve that is through Video Chat, Screen Sharing, Document Interaction and Co Browsing.
- Extensive Personalization
Personalization is a key aspect which technology has to offer to ecommerce customers. It comes from the understanding through customers liabilities and integrations. Nearly every consumer behaviour on the internet is stored and turned into a record which is referred to as big data.Artificial Intelligence (AI) and machine learning analytics adjusts customer behavior patterns, trends, and likeliness, while interpreting their stored data records, which is how businesses provided to their customers evokes desired expectations.
- Mobile Platform
Everything that is online today is quickly migrating to mobile platform because of how cheap and easily available they are in the market. A further conclusive evidence of this is that today we are having a lot of ecommerce based mobile applications, location based marketing, VR/AR guidance and internet of things (IoT).
- Marketing Medium
Medium such as chat bots, Live chats, Mobile messaging has introduced a two dimensional interaction customer to customer or customer to AI which has further boosted the ecommerce marketing. One can easily talk out their pre-requisites via these available which ensures further trust in the ecommerce model.
- Impact of Image Search
Of many technologies Image Search is one powerful one because it creates visual impact.. Customers can easily collect the photos of product they like and share with others online or use to compare with other website and the price they are selling it for. This ultimately impacts the wealth which any websites generates for this Image Search Technology has given us a never before like comparison tool.
- Checkout Process
Everybody loves a quick getaway and the ever emerging technology has further blessed ecommerce model with a fast and smooth checkout process. This process has viably countered the cart abandonment which statistically was affecting the sale because of a poor payment system. And thanks to technology we have mobile payment systems like Unified Payment Interfaces (UPI) which includes Apple Pay and Google Pay.
There shouldn’t be a further doubt as how vital a role technology has played in empowerment of Ecommerce and will continue to do so in times to come.