With the advancement of technology in the eCommerce business sector, many business entities are currently relying on technology to improve their businesses and get a larger share of the market pie. This means that business entities which fail to apply technology in their daily operational activities have a high likelihood of collapsing as a result of increased competition.
The good thing about the eCommerce business platform is the fact that it keeps growing on a daily basis, an instance that enables business entities to take advantage of this form of growth for their benefits. With this in mind, the following are three of the best-emerging eCommerce trends that business owners should put into consideration.
Integration Between Machine Learning and Artificial Intelligence
In the past few years, the eCommerce industry has heavily relied on artificial intelligence and machine learning capabilities to perform different tasks such as product identification, smart purchase, and improved consumer selection. As it stands, there is a high likelihood that this trend will continue to rise as time goes primarily due to the fact that consumers are following the wave of technology. In the coming years, for instance, it is expected that eCommerce checkout procedures will primarily rely on AI and machine integration, a move that will allow eCommerce retailers to provide their customers with different services in less time and less effort.
The continued emergence of applications and programs that integrate machine learning and artificial integration is also expected to boost the eCommerce industry. The notion behind this argument can be based on the fact that these applications and programs will be helpful as they will assist businesses to handle more complex tasks, facilitate problem resolution, and promote an improved transactional functionality. Product recommendations are also expected to become more accurate as a result of machine learning, artificial integration, and the inclusion of the Magento extension. It is, therefore, highly advisable, for business owners to take full advantage of this form of integration to improve their customer’s experience.
Expected Growth in Mobile Checkout and Internet of Things
The meteoric rise of internet-connected devices, as well as the growth of mobile payment systems, is also another eCommerce trend that business entities ought to consider. Mobile checkout processors such as PayPal and Shopify integration have improved the overall shopping experience of customers and improved the quality of services provided by business owners to consumers. Apart from this, banks such as Chase and Softbank have also not been left behind as they have included mobile payment options when performing tasks such as depositing and withdrawing money, paying loans, and paying for online and offline services.
The emergence of cryptocurrencies as a payment option cannot be ignored either. With the help of Magento extension, most companies have integrated cryptocurrencies such as Bitcoin into their platforms as a way of promoting a streamlined marketing platform. This trend indicates the steps that eCommerce entities have taken to improve their customer experience by following market trends.
As people keep moving further away from physical cash transactions, it is without a doubt that the current trend of mobile checkout will facilitate the development and adoption of sophisticated mobile payment options, a move that business entities ought to take advantage of if they plan on making profits, and increasing their consumer base.
Improved Shipping and Delivery Logistics
The modern-day consumer prefers shopping online and having his products delivered at his doorstep within the shortest time possible. This is a significant eCommerce trend that business owners must aim to integrate into their systems. The notion behind this argument can be based on the fact that the presence of online retail shops such as Amazon and eBay have enhanced the overall experience of consumers who do not necessarily have to go to a corner store to shop for clothes or household goods. With such a move, it is clear that Amazon has established that consumers prefer to conduct online research prior to making a purchase. This indicates the urgency of eCommerce entities to implement a platform where consumers can order products online and have them delivered to them in a matter of minutes. However, this can only be made possible if business owners can implement a platform, such as a website, that enables customers to order and buy products.
Companies should also improve their delivery times and streamline their shipping logistics if they plan on keeping their customers and increasing their consumer base. This is integral to any business because a delayed delivery may as well mean a lost client.
Another essential aspect that eCommerce entities should consider is the fact that consumers talk about the services offered by different companies. This is the reason as to why companies rely on surveys to determine the satisfaction level of their customers. Therefore, even though faster shipping can improve the status of the company to the general public, it is of the essence for the company to determine its weak point and design ways of solving these issues. It is only by recognizing these weak points will the company be in a position to cement its status in the market.