E-commerce industry had a good year in the year 2018. Retailers reaped rich dividend in terms of sales and profits. With Big Data, augmented and virtual reality, e-commerce ways changed the way consumers learn about the products. E-commerce industry got the biggest boost with internet-enabled smartphones around the globe.
Now we are in 2019, and everyone is talking about the likely emerging trends in E-commerce technology. But before talking about the technology trends we should look into the statistics, total worldwide e-commerce sales will reach a staggering amount of $3.3 trillion in this year. With a large number of opportunities, e-commerce is likely to hit its highest growth this year and banking on the technology for this. Moreover, the experts predict that this growth trend will continue up-to 2022.
Now let’s take a look at the likely technology trends in E-commerce which experts predict in the year 2019 assumes significance. For implementing the latest technology in your e-commerce business you can contact leading E-commerce Website and App development company USA call +1(408)-372-0967.
Use of Augmented Analysis for efficient Data Management: With the increased use of internet and smartphones, social media has become a leading channel of marketing any business. Marketing strategy can succeed only when the information and data are made available to the targeted audience. These services till today were taken care of by social media analytical tools, and now also they play an important role but with different way.
The use of Augmented analysis provides efficiency and precision at the minimum cost. The data about various business functions are collected, the analysis was done on advanced machine learning and artificial intelligence algorithms, which generate insights into the business data. This filtered data with the help of AI has the potential to revolutionize the E-commerce business in the year 2019.
2. The increased role of IoT -The Internet of Things: In the year 2019 IoT is going to take centre stage in the retail sector as the maximum growth of this sector is going to take place in digital space.
Physical devices will be taking centre stage- through voice-enabled devices and the implementation of smart buttons. IOT will lead the growth in E-commerce through technological advancement by strengthening out services like inventory and supply chain management.
3. Use of Blockchain: Blockchains designed for E-commerce are going to influence the E-commerce business in 2019 as these are the natural fit for the industry and help to store transactional data.
Blockchains help in providing secure alternative payment options and also tracking the shipment of products. Many big e-commerce concerns are already working and experimenting with the blockchain as a main platform for future trade growth.
4. More role of Artificial Intelligence: In the present-day use of Artificial Intelligence in business is on the rise. E-commerce companies are also using the AI in their operations including warehouse automation.
AI-driven techniques are also being used to understand consumer behaviour and buying patterns. Since AI-techniques are able to predict all the trends with a high degree of accuracy and ensure that the needs of the buyers are met, it’s role is going to take centre stage in the year 2019. AI will provide more personalized consumer experience in future.
5. Unmanned Aerial Delivery to rise: In the year 2016 Amazon, the world number one E-commerce concern made its first air delivery through the unmanned aerial vehicle(Drone).
In the year 2019, it is expected that more and more e-commerce are expected to follow the trend of aerial delivery of their products to consumers. As it is cheaper, faster, and cost-effective to deliver through Drones, in near future, we will be seeing drone delivery as a regular delivery method for e-commerce products.
6. Role of Digital Wallets to increase: Digital wallets such as Google Pay, Apple Pay, Paypal etc, will play a pivotal role in e-commerce payment in the year 2019. The role of cash payment is going to decrease.
Since hassle of bringing cash or card every time to make payment of the purchase, digital wallets do away with this by storing card information online in a secure and safe way and allowing the purchasers to make payment through smartphone easily. The Washington Post report states that 70% of people believe that mobile payments will overtake cash and card by the year 2030.
7. Mobile-first Commerce: As more and more people love to shop on go, the role of mobile-first strategy will increase in the year 2019. The mobile-first strategy allows customers to easily browse the e-commerce site and take purchase decisions without any difficulty. The conversion rate increases by 105% and the bounce rate decrease by 31% when e-commerce companies take mobile-first strategy earnestly. This is why e-commerce companies will adopt this technology earnestly in future.
In the year 2019, e-commerce companies will be going in for technology implementation in their daily functions, which help them to increase their customer’s experience and engagements. More new technologies will be explored and implemented in future with an aim of gaining more share in the market by organizations which have not yet implemented these by E-commerce Website development company in USA call +1(408) -372-0967.
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