Long gone are the days when one would need to necessarily step out of their homes to buy, well, everything. The evolution of technology meant those days are past us – the days of inconvenience, thanks to the emergence of this nifty little concept called e-commerce. Yep, the ability to sell and buy products online has been a boon for mankind, to say the least. From being able to shop for groceries to furniture for the new house – there’s virtually nothing that you can’t buy online now. As if its inherent convenience wasn’t enough, but then the coronavirus pandemic came along, which meant people couldn’t step out of their houses for buying even the most basic stuff and essentials. This is yet another reason why e-commerce has gained incredible traction in the recent past.
Now, given the evident scope of growth it offers, it is completely understandable that more and more businesses are now turning to e-commerce to keep up with the market. Furthermore, as customers increasingly opt for shopping online instead of in stores, the retail market has been quick to embrace the digital world. This is to ensure that their customers can reach them and engage with them, even if online. This has also led to massive growth in competition. So, if you are planning to hire e-commerce application development services to build your store or already operate a store in the digital realm, you can ward off competition by monitoring the latest trends in the market. This is because they offer excellent insights into not only customer demand but also modern technologies. So, about e-commerce, here are some trends you should watch out for.
- Augmented and virtual reality: Decidedly one of the most sought-after technologies at the moment, augmented and virtual reality bring a whole world of benefits to the table, especially when it comes to customer engagement. With AR, you can leverage users’ smartphone cameras to help bring your store to life and allow customers to ‘try them out digitally. Whereas VR can help recreate physical settings, allowing customers to wander through the store instead of merely scrolling through web pages.
- Internet of Things: IoT, which is a collection of devices and sensors connected to a network, is also immensely beneficial for this sector. It can, among other things, enable business owners to gain valuable insights into their customers’ preferences, expectations, requirements, etc. by tracking their online journey. IoT can also help improve the quality of products by monitoring required factors, such as warehouse temperature, etc. to safeguard perishable products, etc.
- Voice search: It started with Amazon and its voice assistant Alexa helping people shop online, but the concept of voice search for online shopping has taken off. Chains such as Starbucks too have integrated this functionality in their online stores, to ease the buying experience for their customers.
- Cloud integration: As website traffic continues to grow, e-commerce retailers are turning to cloud computing. Why? To successfully address the growing storage and app hosting requirements. Additionally, cloud computing also helps cut down costs of operating the requisite IT infrastructure and enhancing its security as well.
There is not even a shred of doubt that the e-commerce sector is not going anywhere for the foreseeable future. As the recent past has ably demonstrated, this sector will only become an increasingly critical part of the global economy. Of course, there are all the countless benefits it stands to offer to customers as well as businesses. The most interesting thing is that the rise in the popularity of e-commerce isn’t limited to just B2C transactions, i.e. B2B businesses stand to gain from it as well. However, in the face of the growing competition, it would be a wise idea to keep an eye out on the latest trends and integrate the latest technology for your digital stores. This will be a crucial factor for the success of your endeavors.