Future of E-commerce: Top Emerging Tech Innovations

The Growth of e-commerce business has drastically increased with the increase in affordable internet connection. There was a time when the internet was luxury commodities which were only accessible to those who can afford it. The recent inflation of personalizing computers and smartphone has increased affordable internet which has also become an enormous effect on the e-commerce trends. Where for buying and selling goods online has also become commonplace. The impact of e-commerce website development is so vast that it accounted for a whopping $2.3 trillion in sales in 2017 and it is predicted to reach $4.5 trillion by 2021. Where in US e-commerce accounts for 10% of all retail sales with the number of estimated increase by 15% every year. So for gaining success in the hyper-competitive world of e-commerce, it is essential to stay ahead because setting up an online store isn’t enough to drive sales. 

Below are the given top e-commerce technological innovation and its trends which are helping for altering the online shopping experience: 

Voice Search 

The evolution of voice search or voice-activated devices will soon change the way how people do their shopping online. Even experts say that voice commerce represents the next major disruption in the retail industry. According to the report in the coming years, voice shopping will experience 1,900% growth. Where today the digital assistants such as Apple Siri, Amazon Alexa, and Google assistant have already made a noise in the market. However, it is going to make online shopping much more comfortable because it will assist with recommendations and search results according to individual needs. For example, if anyone wants to go for groceries shopping where he/she can tell Alexa about his/her special dietary and in response, he will automatically get everything matching to their specific needs. 

Augmented reality 

Augmented reality technology is not new various e-commerce retailers are slowly seeing the benefits of adopting AR tools. Interior design and home décor sites were some of the early adopters who have seen the benefits of consumers interacting with products virtually. For example, the AR app IKEA place uses AR technology to let customers envision how particular furniture will look into their home before even making the decision. 

Blockchain 

Blockchain considered being one of the most disruptive technologies of the current era, which has changed the entire magento website development massively. In the simplest terms if we say Blockchain has described as a data structure which holds transactional records while ensuring security, transparency, and decentralization. Even the transaction is digitally encrypted so that the data remains secure. 

Chatbots 

Chatbots are not new, yet one of the earliest chatbots are powered through neural networks, machine learning and even using AI technology where the results are highly intuitive which can provide customers with exceptional customer services. Their fast lighting responses help to give accurate info with 24 X 7 availability which helps meet all customer demands. It also stores large volumes of data when compared to human service agents with high levels of personalization and instant service. 

Beacon technology 

Nowadays companies started using beacon technology by offering deals and promotions. Where the physical stores can implement physical beacons in shops so that when someone’s walks in their store, their phone accepts the signals and provides them promotion. Furthermore, marketers can also configure their apps to activate messages as soon as certain conditions met. For instance, if a user is within the beacon range for 3 seconds marketing message can be triggered. Where the brand like Sephora has also incorporated beacon technology which helped to send personalize promotions, deal with user’s device while simultaneously collecting consumer data. 

So, for wrapping up with the growing advancements in the technological trends the entire market of e-commerce is going to change forever. Where there are more exciting innovations yet to come which will make e-commerce industry more lucrative, so ensure that you keep track of all the latest technologies and innovations and hire magento developer to implement these technologies which will help you to stay ahead of your competitors and to boost your revenues.