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The Technology Boom Powers the E-commerce, See How!

By CIOReview | Thursday, June 20, 2019

The ever-evolving e-commerce sector is now eager to leverage new generation features to generate incredible visual customer shopping experiences

FREMONT, CA: E-commerce is now one of technology's most important contributions to the world today. It has indeed helped distributors develop their companies. As a consequence, the rivalry has also deepened, making it inevitable that businesses will walk the extra mile to keep their company relevant. E-commerce technology has been rapidly innovating. With e-commerce in North America growing by 15 percent in 2018, it's no surprise to achieve a market value of over US$ 500 billion. To be the consumer's decision, today's e-commerce companies need to stay ahead of the curve as comfort and significance remain king.

For e-commerce businesses, the information of online shoppers is essential and should be handled as such. Retailers can gain significant insights into customer affinities, trends and preferences that shed light on what can be placed on the market and what is unlikely to interest them. Using AI to evaluate consumer browsing conduct and then form client base sections can power some seriously efficient e-commerce marketing strategies. Consumer insights portal can assist brands to discover their target audiences via data analysis of the psychographic, demographic, and behavioral characteristics of thousands of social media consumers. This sort of assessment sheds light on key customer ideas and trends that can leverage e-commerce brands to better communicate with their clients.

By implementing an AI-powered chatbot to provide responses to client queries, e-commerce brands can investigate the opportunities that AI can give them. By choosing an AI-driven chatbot over a traditional rule-based chatbot, companies can deepen their connection with their customers and boost the probability of sales by ensuring that the chatbot can comprehend conversational language demands and provide the appropriate response.

Most e-commerce companies are acquainted with the enormous price of returns. In the U.S., return shipments alone are projected to cost $550 billion by 2020. However, for many e-commerce companies, augmented and virtual reality are here to drive down these return rates considerably. E-commerce companies selling accessories and clothing now have the choice to deploy a virtual mirror on their website, so shoppers can attempt to get as close to a brick-and-mortar shopping experience as possible before they purchase.

While for many small e-commerce companies some of these techniques may seem out of reach, there are methods to leverage them economically. Instead of assuming responsibility for creating AI-driven data analysis, cognitive chatbots, or virtual reality techniques to drive company development, e-commerce businesses should turn to experienced yet cost-effective partners.