E-Commerce Trends You Should Know In 2023
What Is E- Commerce Technology?
E-commerce technology trends have paved the way for businesses to conduct themselves on digital platforms. With many businesses opting to use an e-commerce platform to enhance their business, it is only set to boom in times to come.
Undoubtedly, E-commerce has been successful for many reasons – convenience and reliability. Technology is largely in use for generating a successful e-commerce platform that is beneficial for sellers and buyers. The more enhanced and better the technology, the brighter the future of e-commerce.
7 Top E-Commerce Technology Trends You Should Know In 2023
The unique characteristics of e-commerce technology are reliability and satisfaction, making the shopping experience better for customers.
Let's take a closer look at the 7 future technological trends of e- commerce:
1. Augmented Reality (AR)
AR has become a game changer for online shoppers. With the help of this technology, online shoppers can visualise various products (clothes and accessories). This technology has been introduced in most e-commerce platforms where people can see how they look after wearing a particular item.
This virtual trial option makes the customer's shopping experience smoother. They can try products before hitting the buy button. AR takes online shopping to a whole new level.
2. Voice Search
It's time to evolve with technology. While looking at any product on Google, you don't have to waste your time typing the name. You can use the voice search feature to get the results.
Recent decades have seen a trend in voice control systems. Adding the voice system to e-commerce is another best technology for an e-commerce platform. Its convenience and effectiveness increase the number of people relying on voice search technology. Many e-commerce websites have adopted voice search technology.
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3. Artificial Intelligence (AI)
A study by Statista reveals that the global AI market will grow by over half a trillion US dollars by 2024. Following a Study by IMB, 77% of businesses are using or exploring AI for implementing the technology in future.
AI unique features will be used on a large scale by e-commerce platforms. As customers seek more ways to enhance personalisation and services, AI will help them with product recommendations and guidance.
Today, many e-commerce retailers are investing in AI to stay tuned with the latest trend.
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4. Chatbots
In accordance with the HubSpot study 2023, 26% of B2B marketers leveraging chatbot technology in their marketing programs acquired between 10% and 20% more lead generation volumes.
Chatbot technology is already making user interaction easier with each passing day. Infact, a study by Statista states that 33% of consumers find chatbots ‘very effective’ at resolving their issues. They don't care about whether humans or machines assist them. Customers can easily interact with the salesperson.
Now, you don't need to place calls every time for communicating with customer care. Many companies have adopted this chatbot technology and provide 24*7 assistance to ensure customer satisfaction.
5. Online Payment
According to the report by PhonePe and Boston consulting group, the Indian digital payments market is expected to triple from $3 trillion to $10 trillion by 2026.
Today, almost every e-commerce platform and retailer accepts digital payment like GPay, PayPal, Paytm and other digital wallets because of its convenience. However, customers should ensure privacy measures for their e-commerce site for secure payments.
6. Video Product Advertisement
Today, almost every e-commerce platform and retailer accepts digital payment like GPay, PayPal, Paytm and other digital wallets because of its convenience. However, customers should ensure privacy measures for their e-commerce site for secure payments.
7. Mobile Shopping
According to a study by Outerbox 2023, at least 79% of smartphone users shop online using their mobile devices. This clearly shows the rising demand for mobile-first e-commerce sites for better customer experience. Now, the technological trends in e-commerce for online shopping are right in your palm ore we can say just a click away from you.
Concluding Thought
E-commerce technology is constantly evolving to meet the needs of consumers, retailers, marketers and businesses and enhance customer experiences, increase sales and ultimately grow their bottom line. As technology advances, businesses must stay up-to-date with the latest trends to remain competitive.
As we look to the future, it's clear that e-commerce technology will continue to shape the way we shop and interact with businesses online.
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