Everything is becoming digitalized in this technological era. Businesses are also becoming digital, especially as situations like the global Covid-19 pandemic in 2020 arise. The increasing need for e-Commerce was universally felt during the pandemic, and subsequent lockdowns as manual companies worldwide faced significant losses. Companies that generated revenue through physical shopping and did not have a developed e-Commerce platform incurred losses and lost the competitive edge in the global economy. As a result, if you are going to invest in a business, you should research the organization and determine if it has an online or e-Commerce business.
e–Commerce brings innovation to the digital business industry, facilitating the audience without interaction with the physical world. If you are a business owner, exploiting the right trend in e–Commerce will propel your company forward, especially since it is projected that the global e-Commerce industry will hit an enormous $5879.1 billion in the future. There is no doubt that e-Commerce is a prominent reality of 2021 and the future.
AR and Online Shopping
Augmented Reality (AR) has wholly changed e–Commerce. With this type of innovation, buyers can see the product they are shopping for and make a purchase decision. Augmented Reality changes the shopping experience in a particular market, like home décor and fashion, because the consumer can better understand the product without seeing it in person. However, AR technology has not been improved upon since videos on e-Commerce websites became popular.
As a business owner, employ AR to encourage customers to try the product before buying it. When orders do not match their expectations, customers feel betrayed. It may be either a misfit, a vast difference, or poor product quality. So, the try-before-you-buy strategy advocated by AR is setting reasonable consumer expectations. This, in essence, strengthens a company’s reputation and increases its sales. Not only does AR help to mitigate the problems listed, but because of the immersive atmosphere, it also boosts sales. This year, 100 million consumers are predicted to use AR, making it a suitable time to get on the bandwagon with e–Commerce firms.
Though AR turns out to be a blessing for companies in e–Commerce, Virtual Reality (VR) is not far away. Around 15 million cardboard headsets have been delivered by Google, already allowing users online shop in a new way. Similarly, many e–Commerce patterns mentioned connecting to Artificial Intelligence (AI). AI improves AR and VR through voice search, chatbots, or even social commerce.
AI and Consumers
According to the research that 75% of United States households will have a smart speaker within the next five years.
As many people purchase and use smart speakers, more customers will use voice search to order food, shop online, and organize their lives. The increase of voice search creates an opportunity for e-Commerce businesses to develop content and efficiently use keywords.
Machine learning and AI make it possible for the consumer to have computerized, personalized shopping experiences. Artificial intelligence continuously gathers information on how customers search for and purchase products and services. AI technology and its data-gathering innovation have become an integral part of the shopping experience that cannot be replicated in-store. These aspects of AI have also become invaluable to companies and e-Commerce allowing marketing teams and product developers to home in on consumer behavior and identify potential market gaps.
Customer satisfaction is important in any business. AR, VR, and AI provide more products to target audiences and efficiently accommodate their needs, making shopping online easier and more convenient. This subsequent ease in engaging with e-Commerce prompts more companies to digitalize their operations.