5 Ways Technology is Changing eCommerce

Technology is changing business-to-consumer (B2C) interactions, allowing retailers and consumers to benefit in various ways. Consumers now have access to a variety of tools that help them compare products and prices, locate stores, and find alternatives. Businesses are also benefiting from these tools that help them build their brands faster and better meet consumer needs. Take a look at the top five tools that are transforming the eCommerce world.

Chatbots

More and more eCommerce platforms are incorporating conversational assistants like chatbots and virtual assistants. This technology imitates human interaction, offering 24/7 customer service and support. Chatbots help companies get closer to their customers while saving time and money. Advanced chatbots also help buyers discover new products based on their order history and complete orders.

Mobile Apps

Apps provide retailers an opportunity to connect with consumers in more effective ways. It also helps to achieve better consumer/retailer relationships and notify customers about new releases and discount offers. They also make shopping seamless, increasing repeat customer rates.

Social Commerce

According to BigCommerce, 30% of online shoppers were open to purchasing from social media, while 60% of Instagram users said they found new products on Instagram.

Thus, social media sites such as Instagram and Facebook have added buttons that allow buyers to make purchases right from their websites. This helps businesses create a link between their online stores and social posts and attract new customers while maintaining old ones.

Payment Options

To make the checkout process as seamless as possible and reduce cart abandonment rates, eCommerce platforms are implementing new, reliable payment options that are better tailored to the behavioral patterns of shoppers.

Alternative payment options, such as e-wallet, account for 36% of eCommerce transactions worldwide, while only 23% of buyers opt for credit cards. Mobile payment solutions such as Apple Pay, Facebook Pay, and cryptocurrency are also becoming more popular and accepted.

Augmented and Virtual Reality

AR and VR technologies have proven to be useful in many product-driven industries, especially in automobiles, fashion, furniture, and electronics. Being able to preview or try on items remotely can significantly increase the chances of purchase. In fact, 61% of online shoppers prefer to make purchases on sites that offer AR technology.

Although this technology is already in use, its development will significantly improve the way we shop and sell online.

Sweet Tip from Ally:

Technology is enhancing the ability of entrepreneurs to get businesses off the ground faster and operate more efficiently. Thanks to these technologies, consumers are discovering new brands and products, along with much more convenient ways of shopping. Remember to keep up with all the latest technological advancements and trends to help your company thrive.