Rising Technologies That E-commerce Should Embrace

Featured article by Andrej, Digital Marketing Specialist

We live in the digital era, which means that anything we own or any activity that we conduct nowadays, is somehow tied to technology and digitalisation. The commerce area is no exception for sure, given the fact that digital commerce plays a leading role in the game, dictating how business works in general.

As we get busier and busier everyday, we’re developing a habit to do all of our shopping online, whether it involves clothes, food or electronics. And because of this very fact, the digital strategy that a company adopts is crucial when it comes to the customer experience. Whether you’re a large business with millions of customers or you’re just getting started, in this article we’ll present some of the rising technologies that any e-commerce company should embrace:

Conversational Commerce

Even though this technology has been developing for several years now, it recently started to gain popularity and prove itself valuable in the e-commerce area. When it comes to the customer experience, the conversational tools can really be a game changer in your business, especially with chat apps and voice recognition tools. In case you’re wondering how this kind of technology would help you increase revenue in your company, just think about one thing and one thing only: customer engagement. With conversational commerce you are able to allow the client to get information on your product or service on his own time and terms, but you also offer them a personal experience with your online store, which is the key to making a difference.

Management Software

Generally speaking, this is not a new technology, but lately, it’s being heavily developed in the e-commerce area. What are we talking about? Software for managing your store, including customers and products. This means that by using this software, you’re able to check your customer’s payment statuses, track inventory, transfer that inventory between warehouses and that’s just a small part of the software’s functionality. The best inventory management software should be able to make a real difference in your business, given the fact that you have full control over everything.

Blockchain

What if you could get security, cost cutting, transparency and supply chain management, all at the same time, by only using one technology? Well, you can get all of that for your e-commerce platform by using blockchains. Blockchain’s decentralized nature helps improve your storefront privacy and transparency. Consumer interactions becomes transparent. Also, the blockchain technology gives your company the opportunity to track supply chain records, including payments, products origin and inventory. And last but not least, the cost reduction is the most attractive feature, which is an immediate effect of the features mentioned above.

Artificial Intelligence

When it comes to the domination of AI, the e-commerce area is definitely a target too. The way AI fits into this story is pretty straight-forward: by using algorithms that analyze a consumer’s past shopping habits. This is the perfect way to make consumers come back to your products and also to draw the attention of new consumers. Another AI technology that e-commerce should embrace more, is the chatbot, which is pretty useful for customer care. Also, it’s worth mentioning the AI driven software that function as management tools.

Cryptocurrencies

And for the end of this list we leave the star of the last year: the cryptocurrency. This technology created quite a buzz last year, and actually, that’s when the first online businesses started to accept cryptocurrencies such as bitcoin, for payment from their customers. We live in a world where everything changes at a rapid pace, even the money, so that’s why it is important to keep up if we want to keep the the customers interested and satisfied. So it would be best if you’d think about investing in a cryptocurrency exchange software.

The E-commerce area is being heavily developed for several years now, but this is only the beginning. Everyday, there is a new technology that changes the game, and you have to keep up with the trends if you want to run a successful business. Make sure you’re one step ahead of the game all the time, by being up-to-date with all the rising technologies that can be integrated into your company’s software. Sometimes it might be kinda hard to invest in something that is not yet proven to be successful, or something that is still developing, but with the way things work today, you have to take a chance in order to win.

Andrej Kovačević

Andrej is an accomplished digital marketing specialist and an avid internet technologist at Writerzone. Throughout his career, Andrej has combined his passion for cutting-edge technology with a keen eye for emerging industry trends to deliver customized marketing solutions to businesses and clients around the globe. He believes that the key to modern marketing excellence is a constant willingness to learn and adapt to the ever-changing digital world.