E-commerce is getting to be a very convenient means of doing business for most people. You can easily buy or sell anything online. It is also easy for data or funds to be transferred over the internet or on any network that the transacting parties are using. These transactions may occur in many forms. It could be thru a customer-to-business mode, business-to-business mode, or business-to-customer mode. The transaction could also be between consumers.
Different organizations are now increasingly recognizing the importance of E-commerce. They are now incorporating it into their business plans which they sometimes prepare with external consultants like dynamicbusinessplan.
A recent study revealed that global sales of the retail sector thru E-commerce will top the $4 trillion mark by 2020. Recent developments in E-commerce make this expansion possible for both producers and consumers, alike. You can research on these developments on the internet sites like ecommercenowinternational.com. On the other hand, we can now try to look at some of these developments here.
- Better and wider integration of AI
E-commerce players are now integrating artificial intelligence into more areas of their operations. One such area of integration is the use of “chatbots”. These are applications that provide immediate assistance to customers on their concerns on your products or services. They are conversational agents that are becoming more helpful to both the customer and the provider. You can also integrate these applications in all aspects of your operations for better tracking of your production and delivery services.
- More efficient shipping and delivery systems
Companies engaged in E-commerce are continuously improving their delivery systems. They strive to make the period between the shipping date to the delivery date as close or short as possible.
- Rapid expansion in the use of Mobile Checkout and IoT Technology
Mobile checkout and payment are now the most convenient way for consumers to do their shopping. On the other hand, the availability of internet connections, cheaper costs of technology, and the wide use of smartphones created what is called the “Internet of Things (IoT)”. This IoT opens up a broad spectrum of possibilities for the producer and consumer, and everyone in between.
- Augmented Reality is becoming mainstream
Augmented reality is defined as “an enhanced version of reality created by the use of technology to add digital information on an image of something.” Many companies are now starting to use this is technology to further enhance their customer experience. Furthermore, more mobile applications are developed to facilitate consumer access to goods and services.
- Increasing use of RoPo
Consumers are now remarkably doing “Research online – Purchase offline (RoPo) before making their actual purchases. The widespread use of smartphones makes this possible for most consumers to choose the best product or service they can afford.
These are just some of the biggest trends in the E-commerce Sector today. You can also look up sites like ecommercenowinternational.com to know more trends that may apply to you. Certainly, we expect to see more applications of technology in all aspects of our daily lives. Each aspect has its own set of requirements. These are aspects that open up tremendous possibilities for E-commerce players.
On the other hand, any organization can incorporate these trends into their planning exercise. They can engage the services of consulting groups like dynamicbusinessplan in preparing their business plans.