How Is The E-Commerce Industry Evolving With Technology?

How Is The E-Commerce Industry Evolving With Technology?

  • Best Inc. by Best Inc.
  • May 3, 2020

Now more than ever, e-commerce is booming. Just in the last decade, consumers have been increasingly turning to online shopping more frequently than going to brick-and-mortar shops, especially for their daily necessities, bulky items, or to find good deals on high value items. According to Statista, a 265% growth rate is predicted for online retailers, from $1.3 trillion in 2014 to $4.9 trillion in 2021. And where the business is, technological advances will rise to support that growth – and help the industry, in turn, to grow and develop further. Below are the three biggest ways in which technology is supporting the e-commerce industry to evolve:

How-Is-The-E-Commerce-Industry-Evolving-With-Technology

Social Commerce

Where do consumers spend most of their time? Social media. These days, businesses have turned to social media ads in order to capture viewers’ attention and scope out potential customers. The best part is, businesses are able to effectively target consumers that are relevant to their niche market. In fact, social media platforms are integrating new ways to close the gap between social and shopping applications – such as implementing “shop now” buttons on Facebook ads, purchasing event tickets directly on Facebook events via third-party apps, and so on. Instagram is making their posts ‘shoppable’, too, where customers can simply click on the image of an item they wish to purchase and it will take them to the product listing in your company’s mobile-friendly online store.

Image Search Technology

Having the ability to find the items you’re searching for visually – just like you might do in a physical store – is a gamechanger for e-commerce. All your customer needs is a photo of the item they want, and they can reverse search that image in Google to find all the online stores carrying that item, comparing prices and other factors at ease. Other ways in which image search is taking over e-commerce is through user-generated content, where customers post photos or videos of your products with positive comments to build up your brand reputation to their audiences. There are also apps which have been created that allow customers to scan items they wish to buy, and enable purchase online at the tap of a button.

Cloud Computing

Cloud computing makes e-commerce sites even possible – it allows for your shopping system to be online and accessible 24/7, with all relevant data readily available to customers and companies at any time and in any place. All relevant departments of your business, from supply chain, to distribution, to finance, can access the data that enables your e-commerce business to run smoothly. Cloud technology can also aid with lowering webpage loading times for a smoother customer experience. Also, it can put customers at ease with regard to data security, as long as it complies with regulations such as GDPR and CCPA. No e-commerce company is able to work without a close integration of various technological strategies. In outsourcing e-commerce fulfillment to a logistics company, it is crucial to find a company which is able to integrate with your order system on your website, as well as on Amazon, eBay, and other major marketplaces. Contact Best Inc. for your trusted logistic needs today.