Fast paced technology and impact is something we are all aware of. With so many changes due to advances in technology, the world of e-commerce has greatly affected. Even customers these days are tech savvy and prefer online shopping. Customers are smarter than before as they can be affected by the price and quality of the product. They know more than we think and know how to find the perfect store to place their order.
With technology being extremely fast, ordering online has become easy and they can also choose how they want to communicate with online retailers. Electronic retail sales have increased since 2014. In 2017, sales increased to $ 2.3 trillion by 2021, and is expected to reach $ 4.88 trillion.
An increase in e-commerce sites
There has been a huge increase in e-commerce sites. Almost all businesses are moving online today because they know that shoppers are waiting for them online. Nobody has time to shop in stores due to its busy schedules, but with so many options on the Internet everything has become easy. Most online stores have started offering offers and discounts to attract customers. There are offers like "Get 20% off your first purchases", etc. Today, there is nothing better than getting time to sit at home and shop for your favorite dress from your favorite brand. The house will then be delivered. Who does not want this luxury? It also saves retailers' money by not requiring a store to display more than 1000s of products.
- Average e-commerce conversion rates range from 3% to 4%.
- Trade sales in the United States reached $ 396 billion in 2016, and are expected to increase to $ 684 billion by 2020.
An increase in mobile applications for e-commerce
Every online business is moving into the mobile world. It becomes easier for them to do business even while traveling. Shoppers love to use their mobile phones. 55% of businesses have a mobile-optimized website, mobile app, or both. Every 1 out of every $ 4 of e-commerce is spent on a mobile device. Here is a glimpse into the third quarter of 2017.
Facilitate communication with users through a mobile application. They can take advantage of offers on the go and can complete purchases directly through various payment options and payment gateways. The branding app on your phone prompts you to search for it for new arrivals or new offers, similar to the customer’s mind, and hence the increasing mobile apps.
With the growth in e-commerce, there is a growing demand for advanced and dynamic online payment options. There is also growth in payment technologies through websites and mobile apps. This makes buying and selling products easy and simple. International payment facilities are also available that facilitate cross-border shopping with online payment solutions such as PayU. With this, customers can pay on the go without having to use their cards or other details. It saves a lot of time and money for both customers and companies. Payment gateways like PayPal have 70% higher payment transactions than non-PayPal transactions.
Retailers take customers' attention
Over the years, email notifications are quickly populated by advertisers for push notifications via mobile devices. With these features, marketers can get consumer attention like never before.
Users can now view promotions that were considered spam simultaneously directly on his mobile screen, and update them about new offers or products.
Your personal shopping experience is increasing
Nothing has changed when it comes to personal attention while shopping. Every shopper wants a personal experience with growth in technology. Technology ensures that every shopper feels good with only some personal offerings. Using technology to send out a Christmas and anniversary show gives them a sense of importance and remembrance.
Fast delivery and huge discounts
Who wouldn't want a product at a lower price without having to bargain with store owners? Who does not want to deliver their product on the same day without going to the store. Both competition and demand are increasing. This is sometimes difficult, but with stores that offer the option of same-day delivery with additional fees, they have become popular with consumers. Amazon is one of the sites that all consumers love today.
Social media has played a big role in bringing retail customers closer. Customers can send messages directly to brands and quickly get responses to their inquiries. Customer service has been greatly enhanced. In fact, brands are also starting to use social media platforms like Facebook, Twitter, Instagram, Pinterest, etc. For promotions. In fact, there is a direct call to action buttons like "Shop now", buy now 'on these platforms that allow customers to purchase directly from the page. Discover the brand and see more of what you're offering to them
Here are some of the ways technology has impacted e-commerce significantly. These are not the only ways but only a few of the common methods that have affected e-commerce and companies online. These methods played a major role in transforming e-commerce and making it as large as it is today. Multiple offers, discounts, and payment options have open doors for small businesses to start businesses online with little investment.
Mobile websites and mobile apps have changed the way people view e-commerce. It has become the preferred method of shopping for most people. Together with mobile and social media applications help companies to get greater profits through these platforms. In fact, some of them started their home internet business with little investment. In all technology, it has influenced the most positive way to help the growth of e-commerce and all businesses online.