E-commerce has transformed the business landscape worldwide. Instead of going to malls, malls have been brought to the consumers.
You can now access and buy any product you want with a few clicks, and the product will be delivered right to your doorstep.
People love the convenience, and the massive adoption of e-commerce is a testament to this.
Today, online shopping is the most popular activity on the internet and due to that many e-commerce websites have emerged and they offer amazing deals and discounts to customers.
The total projected sales for 2018 in the US alone is 2.8 billion dollars.
At the same time, e-commerce is evolving. Smart solutions are changing people’s expectations and purchases, and how companies conduct business online.
Consumer behavior is shifting every year. To keep up with these rapid changes, online retailers have to be flexible and adapt. Efficiency and reliability is the driving force of businesses. This is where smart solutions come it.
Take artificial intelligence, for instance. Harnessing the power of Artificial intelligence can lead to more sales conversions. Simple smart solutions like personalization, tracking of shopping habits, personalized ads and customer engagement can be a huge driving force for your business.
The influx of analysis tools that rely on artificial intelligence to boost revenue has transformed the e-commerce landscape. User profiles can now reveal valuable insights into the habits of shoppers, and this data can be used to influence the face the business shows to the world.
Business decisions like store design, offers and coupons can be tailored to capitalize on the lessons learned from this data analysis.
This way, every user gets a unique experience when visiting the e-commerce store of their choice. Such simple value addition methods will make users appreciate your quality of service, and boost revenue.
The transformative power of smart solutions when it comes to e-commerce can no longer be ignored. From helping businesses manage inventories to automating indexing processes and categorizations, smart solutions can change how you set up your business
They also assist in quality control, with among others, the ability to detect low-quality products or images or to detect content that is not of acceptable standards. They can also be used to ensure efficiency and speed, with the ability to offer highly tailored and highly accurate delivery estimates.
All this is in an effort to improve the user experience. Good user experience will convert to more sales and more revenue.
Websites today can be tailored to a specific customer base or niche users. This makes it easier to convert browsing users into paying customers.
Moreover, human beings appreciate any extra effort you make to make their experience better and generally add value to their lives. That personal touch is essential, so anything from a simple greeting to a chatbot can have a huge impact on user experience, and therefore revenue generation.
Today, 80% of consumers conduct online research, whether it is for online shopping or physical store purchases. Information is in the hands of the masses.
Therefore, smart marketing can attract customers to e-commerce stores as they are online. Businesses now have access to all the information customers require, and they can harness this information with smart solutions to tailor products and precisely orient customers to their businesses.
For example, if a user has been spending the past few days browsing laptops and weighing options on what to get, you can harness this information for the next time they visit your electronics e-commerce website and give them tailored offers and promotions that will nudge them to make a purchase.
E-commerce has transformed how business is conducted in the world. Traditional businesses, shops, and stores are feeling the pinch. If they do not adapt, they stand to lose.
For instance, the overall investment being channeled to holiday sales is steadily decreasing among physical retail stores, while rapidly increasing among e-commerce stores.
In 2017, more consumers than ever before chose to make online purchases for Christmas as opposed to buying gifts in retail stores. This is proof enough of the transformation that is taking place.
Are smart solutions transforming e-commerce?
Yes, they are. And very much so.
Implementing smart solutions like artificial intelligence and technology-based analysis into your business model can be a huge game changer when it comes to e-commerce.
The smart business person will not ignore the changing business landscape. Instead, he will acknowledge it, accept that change is inevitable, and change with it. This is the only way to thrive from it.