Technology has had a positive impact on human life as it continues to evolve. People can now communicate with friends and family, sometimes thousands of miles away, on a real-time basis. Business and e-commerce have also not been left behind. Social media platforms have made product promotion far much easier as companies can get instant feedback concerning their products and services. The world of e-commerce is having a tremendous impact on tech-savvy consumers. Consumers are now able to track their purchases from the stores and into their homes because they now know what is continuous delivery. Businesses are also baled to keep track of the relations with their consumers using the customer relationship management (CRM) software.
The vast amounts of data collected by companies from their consumers are stored using big data for future reference. Such organizations make use of machine learning and artificial intelligence models to perform data analysis and identify trends and patterns in consumer behavior. Hence, these organizations can make informed decisions and adjust their business operations to suit the needs, tastes and preferences of the consumer. The incorporation of such technology is critical in driving high volume of sales, widening profit margins and a handsome return on investments. In this article, we are going to discuss the ways through which technological innovations are changing e-commerce.
Mobile applications are now creating an opportunity for retailers to have a connection with their consumers. This relationship goes beyond the boundaries of the physical stores. Retailers now do not have to wait for customers to come to their shops or spot an advertisement. Today, companies can reach the customer everywhere they are. The retailer has used mobile applications to ensure that they will still be on the consumer’s mind even when they are not shopping. The presence of a mobile app in a customer’s smartphone or tablet acts as a regular reminder that there is a brand out there which serves as an option to satisfy one of their needs. Offline customers are now getting back to stores using location-enabled mobile applications.
Personalized consumer experience
The fact that customers need to have a customized shopping experience is not new to the market. The advent of technology and the birth of the internet barely two decades ago have made personalized consumer brand experience a necessity in today’s world. For the retailers who are looking to build a loyal clientele, such marketing incentives have become extremely useful. Companies have incorporated e-commerce sites and mobile personal assistants to automate their consumer experience in such a way to have the customers satisfied with the service. Customer satisfaction is critical for any business that is working to expand their market share. Moreover, satisfied customers will always come back to the store for more goods and services.
Lower prices and faster delivery
The number one force behind the success of e-commerce sites has been the customer’s convenience. Consumers want same-day delivery of the goods that they order from a retailer. Such incentives are forcing companies to hike the price for commodities, so they can deliver the products to the consumer on time. However, technology has given birth to robotics and drone technology which will be incorporated into retail stores shortly to deliver goods on time.