The Future of E-commerce and How Businesses Can Embrace it
500 million gadgets were connected to the Internet by 2005 and by 2008, 8 billion had been connected. Don’t try to guess the numbers by now but by the year 2030, at least 1 trillion of them will be connected to the Internet. This is the rate at which the e-commerce platform, is getting flooded by would be businesses and consumers.
ESA 2018 updates revealed by ecomsuccessacademy.net shows that good fraction businesses are already engaging in electronic commerce. Therefore, it would be a danger to assume the underlying potential for the future in the internet business.
Whether B2B, B2C or C2C type of e-commerce, one thing remains, they all have to transact in terms of money. Cryptocurrency is a digital currency, which has many advantages that any business cannot assume. No company controls your data as a merchant, the currency is not prone to fraud, no middlemen fees, no restrictions to what can be bought or sold, machine to machine payment contracts and so much more are some of the benefits of cryptocurrency.
Such possibilities are being welcomed by many online companies as the currency keeps growing with time. Sooner or later, the whole world may go this way and the online business too.
You know very well, e-commerce is all about giving that personalized experience to your customers. One such endeavor is the implementation of visual reality platforms in e-commerce. Some companies have gone to the extent of providing try-on experience, using virtual reality, to their customers before they buy the products.
Things might be more sophisticated than before, but when it comes to creating sells through personalizing the customer experience, virtual reality will be one of the things to embrace.
Pop up shops
A new trend has come. Shoppers are getting a new online experience where they can get into a retail shop and buy cheaply online than they would do directly. Great companies like the Amazon is using this strategy already and so many are streaming into their shops.
The experience is that of customers connecting to their brand physically. As more hang on this idea, the future will see more online shops providing the same.
Use of algorithms
Greater connectivity between online businesses and clients has been seen more than before with better apps addressing even the smallest of business needs being developed. The next frontier is the use of e-commerce algorithm systems.
They can be used to make systems for testing, optimizing and do repeat until loop procedures for businesses. Your business can use this and much more that can be developed using the algorithms. It should be an item for all businesses to embrace.
Much more is undergoing testing in the world of e-commerce. Attribution modeling, drone delivery, artificial intelligence, curation of e-commerce and pay per month packages. It is clear that much awaits this industry and business owners have more to keep abreast with for their business to embrace. All this as a way to give a personalized experience to their online customers.