Innovative eCommerce companies that want to remain competitive need to keep a keen eye on new technologies. These emerging eCommerce technologies may help improve efficiency, support growth, and create more streamlined operations.
These technologies are more important in 2022 than ever before, especially as the eCommerce industry continues to grow. Most eCommerce businesses need the right tools and technologies to achieve their goals.
So…what should you be investing in?
Take a look at some of the new technologies entering the eCommerce space. Make a decision for yourself that is worthy of investment based on how you operate your business.
1. Artificial Intelligence
Artificial intelligence (AI) is an interesting type of technology when it comes to its place in the eCommerce world.
Once thought of as a solution for high tech, it’s now more readily available than ever. It allows many organizations to adopt it as a way of minimizing costs and enhancing operations.
AI may help to fill in the one gap that consumers have when it comes to making a decision about purchasing online. It creates the opportunity for virtual assistants to work and connect with consumers in a realistic experience.
That can help with improving personalization and customer service. It increases the connection between the company selling the product and the consumer buying it, filling an all-important gap.
2. All-Inclusive Fulfillment Systems
It’s a fact of eCommerce. The faster you can fulfill orders, the more orders you can take. And that means more revenue streaming into your company’s account.
Yet it can be challenging to keep up with all the warehousing, picking, packing, and shipping needs of a growing business. It can also become expensive, bringing down the profits you make on each item you sell.
Newer fulfillment systems that leverage the latest software advancements have been a huge boon. This is especially the case with startups operating on limited capital.
These systems are typically offered on an outsourced basis, as in the case of third-party logistics (3PL) providers. These providers can have technology that can help with warehouse management, order management, and product information management. They can pull it all together in one spot making an eCommerce retailer’s life much easier.
As a complete eCommerce solution, Tradefull points out that automation through those types of tech is making warehousing more efficient. As a result, this is helping retailers get products to customers faster and faster.
3. Hyper-Personalized Experiences
Hyper-personalized experiences piggyback on the use of AI in eCommerce environments.
AI can help to gather information about shoppers during their visits. That data proves valuable because it can then be used to create personalized experiences for customers.
Consumers desire a personalized experience that speaks directly to them and values their time. Likewise, a tailored experience like this also allows companies to present consumers with more of the products they are likely to want, improving sales.
The adoption of hyper-personalized experiences through the use of AI can empower eCommerce brands beyond the competition. As a result, it creates an opportunity for a one-of-a-kind experience that consumers desire.
4. Voice Assistants
There’s no doubt that checking the weather or playing music using a voice assistant like Google or Alexa is the easy way to go.
Voice assistants like this can also directly contribute to the needs of eCommerce businesses. Consumers want to rely on their devices to help them make purchases, especially when buying online.
In an eCommerce environment, consumers want to ask their voice assistant of choice to help them find what they need. That may allow companies to set up tools that also allow repeat purchases.
All the consumer has to do is to ask their voice assistant to purchase a specific product from the store of their choice. Many of these assistants remember past purchases. Additionally, they may even help with marketing products by sending reminders to consumers to buy again.
One of the concerns for many organizations in managing their eCommerce operation is being accessible to customers 24 hours a day.
It’s simply impossible to do this without the use of technology. New technology, such as AI chatbots, is working to provide a solution.
These more advanced chatbots allow consumers to type their messages directly to the company. The chatbots respond with reasonable questions and can retrieve customer information, product shipping data, and even product information, answering most of the consumers’ questions.
The benefit here is in improving customer service. Consumers get the information they need whenever they need it, even in the middle of the night. That leads to increased sales.
At the same time, eCommerce companies don’t need to pay the high cost of using people to answer those questions. This type of technology has improved significantly so that it creates a more personalized, realistic experience for the consumer while gathering data and supporting the needs of the company.
6. Augmented Reality
Unlike at a brick-and-mortar store, consumers have no way to look at a product from different angles, handle it, try it on, or otherwise explore it.
Augmented reality (AR) opens the door for this opportunity. While it has a long way to go in terms of texture and truly experiencing what a product is like, consumers can use AR to visualize products more realistically before they make a purchase. They can try on clothing virtually. They may be able to place furniture in their living room to see just how well it would fit.
AR is rapidly changing and morphing into a valuable tool for many eCommerce businesses. It’s also a fantastic tool to embed into social media to help build brand recognition and help encourage sales.
Technology Continues to Improve eCommerce Success
Business owners looking for ways to grow and build their operations may need to pay close attention to new technology like these.
Not only can technology help to create new opportunities for sales and better customer service, but it may also provide opportunities to streamline costs, improve operations, and improve efficiencies throughout the company.
In the growing eCommerce industry, it’s essential to have every possible tool available to ensure the best possible return on every sale made.