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August 31, 2021

Impact of Technology on eCommerce

Several retail companies have experiencedmassive growth in their income after embracing eCommerce marketing strategies.This platform ensures a hassle-free shopping experience for the buyers. It hasled to an increase in the conversion of leads for the companies in the digitalsphere. Again, eCommerce guarantees the customers' greater participation, sothe business experiences a massive rise in demand and sales figures. Theadvancement of technology has facilitated this development. It also enables thecompanies to establish a bond with the customers. Hence technology hasrevolutionized the business traction and made it easier for both the buyer and seller.

Bridging the Gap

Technology plays a crucial role in bridgingthe gap between the customers and the sellers. The access to the internet andsmartphones has enabled the consumer to avail of the services and productsusing eCommerce portals, and it is highly convenient for the consumers.Moreover, they can avail of several discounts and offers as well. People canshare the line of the products on social media, compare prices with otherportals, and also return the products. The eCommerce portals provide theopportunity of availing the shopping experience from the comfort of the home,and they get all goods and services delivered at their doorsteps.

 

Personalized experience

Technology also ensures a personalizedshopping experience for the consumers. The marketing technique utilized by theeCommerce companies is customized for customers and aims to cater to theirneeds. Therefore, it helps the companies to build a loyal customer base.Furthermore, the provision of mobile personal assistants, mobile apps, emailmarketing, and social media all guarantee a smooth, personalized shoppingexperience where the buyer can connect with the company and clarify queries.Thus, companies use technology to provide efficient customers service.

 

Digital Payment

Technological advancement has enabledeCommerce platforms to accept digitalization in payment procedures. In today'sworld, people use the convenient form of monetary transactions using e-walletsto transfer their mobile apps quickly. The eCommerce portrays purchasingproducts using these digital payment gateways and also offers special discountson their use. The safety of monetary transactions and transparency in thesystem make digital transactions a better option than cash payments. However,the eCommerce portals keep in mind the convenience of all people. Therefore, itallows both digital and cash payment according to the buyer's preference.

 

Artificial Intelligence

It promises a drastic transformation in thefield of B2B e-commerce. The application of Artificial Intelligence in B2BeCommerce makes the system robust and removes complications. As a result, theefficiency of the eCommerce system increases manifold in decision-makingprocesses during purchases, accomplishing regular tasks throughcomputerization, attaining insights, and making business transactions at lowcost and high speed. According to research, around 40% of the companies useChatbots on their website. The Chatbots also ensure better communication withthe customers and clarify their doubts. The process of conveying informationbecomes easier using AI. 

 

Thus, technological advancement has ensuredan excellent shopping experience for the customers, and it contributes to thedevelopment of the popularity of the eCommerce platforms as well.