The world of eCommerce is on a steady rise. With so many industries and businesses entering the scene almost daily, it’s no wonder that the experts predict that the market will continue to grow at 11.5% yearly.
However, it’s important to note that this growth, which seemingly happened overnight, is only further encouraged by the use of various modern-day technological solutions.
And because modern technology is also on a steady increase – and has been for quite some time now – it becomes apparent how one positively influences the other.
With that in mind, let’s explore just some of the modern technological solutions that have boosted the world of eCommerce and will, most likely, only continue to do it further.
Blockchain solutions for greater security
Although blockchain is not commonly mentioned in eCommerce, the fact of the matter is that this is still one of the safest databases in the world. With all of the well-known cryptocurrencies, such as Bitcoin, and the new ones entering the scene, such as SUI Blockchain, eCommerce businesses, and consumers can relax while making online purchases and transactions. Since blockchain provides an almost impenetrable barrier, company data, and user-sensitive information is safely kept within the blockchain.
Payment processors and the convenience they bring
Although the multitude of currently-available payment processing solutions can no longer be considered innovative, as some of them have been around for decades at this point, the increased use and availability of them is certainly something that should be mentioned. Since eCommerce sales reached almost $4 trillion in 2021, it would be irresponsible to assume they were conducted through only a handful of payment processing services. Namely, more and more eCommerce businesses are starting to diversify their accepted payment processing methods, which opens the doors for more potential sales and offers customers another dose of convenience.
Warehouse management systems (WMS) and automation
The fact that eCommerce stores still use warehouses to store their goods is another factor that’s commonly overlooked by many. However, daily operations in eCommerce warehouses are still pretty much the same as ever. Luckily, nowadays, many WMS solutions enable eCommerce businesses to optimize their warehouse management protocols and streamline the processes of receiving, organizing, storing, and shipping goods. Moreover, such solutions also help reduce the room for human error as they can be used for cataloging, packaging, and labeling, among other things.
GPS fleet tracking for more optimized delivering
While receiving and shipping goods, it’s also important to shine some light on GPS fleet tracking solutions every responsible eCommerce business should use. These solutions ensure that the entire process of delivering goods, either to consumers or to the companies themselves, goes smoothly. They also help optimize the routes and fuel consumption and significantly reduce the possibility of unnecessary and otherwise avoidable delays. An intelligent GPS fleet tracking solution will help business owners more accurately determine the timeframe of incoming and outgoing shipments while at the same time informing the fleet drivers about any obstacles on the road, such as rush hours, roadblocks, or traffic jams.
AI-backed customer support for more excellent responsiveness
No business can remain operational and thriving without customers, and no customer will return for repeat business if they weren’t happy with the service they received the first time. So, eCommerce businesses must invest in keeping their customers satisfied, just like any other business. Luckily, this process is now easier than ever with the help of various AI-backed solutions, such as chatbots and intelligent virtual assistants (IVA). Not only can such solutions greatly assist in providing your customers with proper support 24/7, but they’re also excellent tools for customer engagement. On top of that, eCommerce businesses that rely on such solutions will significantly reduce the costs and the time spent on customer engagement, leaving them with more resources they can pour back into their organization.
AI solutions for analyzing big data
As AI continues to gain momentum and find its way to seemingly every aspect of a modern person’s life, it’s no surprise that it is also commonly used by eCommerce businesses to gather, process, organize and analyze crucial data. This data encompasses everything from business operation, marketing, and promotion, to customer behavior and intent. With the help of such AI solutions, businesses can implement an elaborate recommendation system, for instance, that will send out notifications to consumers every time they purchase. And because about 30% of consumers are willing to check out up-selling and cross-selling recommendations, it becomes clear that such solutions can bring plenty of good to any eCommerce business.
Mobile apps for greater accessibility and ease of use
Amazon was among the first to introduce a free check-out system with Amazon Go. Powered by a mobile app, this system enables consumers to enter a brick-and-mortar store, choose the products they wish to purchase, and leave the space without waiting in line at the cash register. Of course, such solutions are even easier to implement in an eCommerce setting, as such apps could be set up to be directly linked to credit cards and e-wallets for greater ease of use. Not only that, but mobile apps also enable consumers to browse and shop for goods wherever and whenever, which, naturally, only further encourages them to do so.
Ultimately, the great thing about using technology to boost your eCommerce business is that new tools and solutions enter the scene regularly, meaning finding the perfect solutions for your business has become a walk in the park. As mentioned, these solutions help streamline business operations and optimize mundane tasks. Still, they also enable seamless customer engagement and support, increasing the value your eCommerce business offers its audience.